Dallas-based High Street Residential will soon break ground on a 137-unit waterfront residential development in San Pedro that will include 16 affordable units and nearly 1,500 square feet of retail space.
The development, Vivo on Harbor, will sport a mixture of studio, one- and two-bedroom apartments in eight stories, in addition to a trove of amenities. High Street and partner firm Principal Asset Management closed on a financing deal just before Thanksgiving and expect to wrap construction by the end of 2024, potentially sooner. The groundbreaking is scheduled for Dec. 8.
Vivo on Harbor will be located at 511 S. Harbor Blvd., in San Pedro’s Arts District and in the vicinity of other ventures, such as the Port of Los Angeles Promenade and the West Harbor retail development project that recently broke ground.
“We love San Pedro,” said Alex Valente, senior vice president of High Street. “We’ve seen all of the activity along 6th Street, which is really the heart of San Pedro, combined with what the Port’s been doing on the waterfront and the investment there. We’ve been focused on that waterfront edge for a long time. It’s very rare and unique to be able to find a waterfront site in Southern California.”
Utilities for the building will be entirely underground, and the project benefits from a density bonus that allows it to reach 85 feet in height. Local zoning has the height limit at 61 feet in San Pedro.
Other project partners include Culver City’s KFA Architecture as the architect of record, downtown-based Duane Border Design as the landscape architect, Snyder Langston in Irvine as the general contractor, Orange-based VCA Structural as the structural engineer and Donald F. Dickerson Associates in Tarzana as the mechanical, electrical and plumbing engineer. Dallas-based Comerica Bank is providing construction financing for the project.
Valente said High Street did not encounter any specific difficulties in seeking permission for waterfront residential construction and would “love to do more” in San Pedro.