Construction in the home stretch for mixed-use project at 448 W. 5th St. in San Pedro

Over one year after we last checked in, the exterior of the new Thrive on 5th development is complete in Downtown San Pedro.

Located  at 448 W. 5th Street, the project from South Bay Developers consist of a seven-story building featuring 99 apartments above approximately 2,000 square feet of ground-floor commercial space. Parking for 120 vehicles is to be located in a podium structure.

According to a leasing website, the apartments will come in a mix of studio, one-, two-, and three-bedroom floor plans. Eight are to be set aside as extremely low-income affordable housing in exchange for Transit Oriented Communities incentives which permitted a larger development than normally allowed by zoning rules.

DE Architects is designing the contemporary mid-rise building, which includes a fitness room, a recreation room, and a rooftop deck.

The new apartment complex is the second from South Bay Developers in San Pedro, following a smaller 32-unit mixed-use building completed in 2023 a couple blocks south on 7th Street.

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• 444 W 5th Street (Urbanize LA)