Two years after fencing appeared around the perimeter of the former Palos Verdes Inn in Redondo Beach, wood framing is slowly taking shape for a mixed-use development from the Legado Companies.
The new construction on the approximately 4.3-acre site, which sits at 1700 W. Pacific Coast Highway, will consist of a five-story complex featuring 115 residential units atop nearly 22,000 square feet of street-fronting retail and restaurant space.
Rendering of Legado Redondo looking northeastLegado Companies
Plans also call for the renovation of the adjacent Palos Verdes Inn, which will reopen as a 110-key hotel featuring a modern exterior and a rooftop pool deck.
The Legado Companies obtained a 12-year, $75-million loan for the project in early December 2019, reports the Los Angeles Business Journal.
Originally envisioned as a larger 180-unit apartment complex, the Legado Redondo development was first downsized to 146 residential units, and then to its approved 115-unit form in order to gain the support of the Redondo Beach City Council.
Construction of Legado Redondo on PCHUrbanize LA
Complaints regarding traffic congestion have made mixed-use developments a contentious topic within the City of Redondo Beach, which instituted a one-year moratorium on such projects in 2017. That same year, voters passed a measure blocking plans for a $300-million redevelopment of the decaying Redondo Beach Pier.
Despite those well-known objections, the city may have no choice but to accept what would be the largest project in its history - a proposal from investor Leo Pustilnikov which would utilize state housing legislation to redevelop AES power plant site which could include 2,300 residential units, a hotel, and offices.
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