More details on the other tower
I can' t recall if it's come up here before, but there's been talk of building a second high rise on the block directly below the Vue. Found this little blurb on Curbed LA this morning, which links to this "sparse on details, but at least it has some details" mention on CoStar Group's ( the developer) website. The details are thus - tallest building, 18 stories, 251 units, 4,00o feet of retail.
IMHO, other than furthering the okay-ness of building towers in Downtown, the most notable thing about this proposed project is that it would be the first major project in San Pedro to actively displace existing commercial tenants. That definitely puts the local development cycle in new territory.
Of course given the instability of the housing market right now, I have to consider all development proposals as being somewhat improbable. It wouldn't surprise me at all to see a lot of the condo units being built end up re-purposed as rental units. At least when this development tries to sell itself on it's "Palos Verdesness" it will be able to monopolize on the street name, unlike one other project that comes to mind.
IMHO, other than furthering the okay-ness of building towers in Downtown, the most notable thing about this proposed project is that it would be the first major project in San Pedro to actively displace existing commercial tenants. That definitely puts the local development cycle in new territory.
Of course given the instability of the housing market right now, I have to consider all development proposals as being somewhat improbable. It wouldn't surprise me at all to see a lot of the condo units being built end up re-purposed as rental units. At least when this development tries to sell itself on it's "Palos Verdesness" it will be able to monopolize on the street name, unlike one other project that comes to mind.
Labels: development, The Vue