Three projects represent $100 Million in Investments slated for Historic Old Town San Pedro 1. Centre Street, between 6th and 7th Streets In the heart of the historic downtown shopping district is a 1.2 acre vacant lot. The city of San Pedro has chosen the CIM GROUP to build a mixed use development of 112 loft style "for sale" residential units and 22,000 sq.ft. of commercial/retail space, at a cost of between 20 and 30 million dollars. Construction is expected to start in the spring of 2004 and will take 18-24 months to complete. The CIM GROUP has Pasadena's Old Town and Santa Monica's Third Street Promenade to its credit. 2. Historic Bank Building, at 7th and Mesa Streets URBAN PACIFIC BUILDERS is planning to transform the historic bank building into 87 "high- end" for sale brown stone loft style units, ranging from 1,000 to 2,175 sq.ft., plus ground-floor retail space. Completion is scheduled for fall 2005; prices are expected to start at $259,000. URBAN PACIFIC BUILDERS is also in escrow to purchase the property at 390 W. 8th Street for a similar development. 3. Logicon Building Site at 255 W. 5th Street The site will include 200 rental units and an on-site health club for tenants. The units will range in size from 850 to 1,350 sq.ft. with rents starting at about $1,500. Construction will begin in June 2004 with rentals available at the end of 2005. GALAXY SOUTHBROOK is the developer. Additional Developments include: 4. Waterfront Promenade Plans are in the works to create a waterfront promenade stretching 7 miles from the Vincent Thomas Bridge to the corner of 5th Street and Harbor Boulevard. The project will be financed by the Port of Los Angeles. The port commissioner has approved a 3.35 million dollar design contract. The engineering design firm Moffatt & Nichol, was awarded the contract. Possibilities for land development include cafes near a newly proposed fishermen's wharf, walkways, inland waterways, hotels, restaurants, and retail. The first phase of the development will break ground early 2004 and will focus on efforts to create a public plaza space at 6th Street and Harbor Boulevard, bringing the water inland toward the San Pedro Municipal Building providing a waterfront link to the downtown shopping district. For more information go to: www.spwaterfront.com 5. 731 - 741 S. Pacific Ave. ( N.W. Corner of 8th & S. Pacific Avenue ) A classic 21,000 sq.ft. 1930's Art Deco style building, originally a Montgomery Ward department store, and next to it, a 3,000 square foot 1920's brick building with bow-truss roof and skylights, have recently been purchased, and are being restored back to their original motif, by the owners of A-DELTA REALTY. The use will be artist lofts, office space, and upscale gallery/retail space. 6. S. E. Corner of 8th & S. Pacific Avenue Recently closed escrow. The owners are planning for 8 loft apartments on the top floor and upscale retail at the street level.
© 2004 A-Delta Realty   Residential • Commercial • Industrial 741 South Pacific Ave. San Pedro, CA 90731 T: (310) 831-6670   E: info@a-deltarealty.com Designed by Barry Anklam, B&A Design   (818) 547-4080   Glendale, CA.