Holland Partner Group believes in San Pedro so much that it’s planning another residential project across the street from its under-construction 375-unit development.
The Vancouver, Washington-based firm filed plans with the City of Los Angeles to build a 281-unit apartment complex just across the street from its project at the corner of W. 6th Street and S. Beacon Street, according to Urbanize.
The eight-story building would replace a trio of small commercial buildings. Holland Partners wants to have around 2,300 square feet of ground floor retail and 505 parking spaces across a three-level underground parking garage.
Renderings from architect MVE+Partners show the project is nearly identical in design to the seven-story 550 Harborfront building.
As of last year, 550 Harborfront was slated for completion at some point this year, but it’s unclear how the work stoppage brought on by the coronavirus pandemic is affecting that timetable.
Holland has been working on 550 Harborfront since first purchasing the development site in 2017. Last year it secured an undisclosed sum of financing from Starwood Capital Group via its Opportunity Zone fund.
Holland is juggling a handful of other projects around the city as well, including a 170-unit apartment building in Echo Park and a 185-unit development in Hollywood. A labor union challenged the Hollywood project in the fall.
The firm completed two apartment towers in Downtown L.A. last spring and quickly sold them for a combined $403 million to Denver-based investor Daydream Apartments. [Urbanize] — Dennis Lynch