The project, which replaced a surface parking lot, consists of a seven-story building which will eventually feature 99 studio, one-, two-, and three-bedroom apartments above approximately 2,000 square feet of ground-floor commercial space. Plans also call for 120 at-grade and podium parking spaces.
Project entitlements include Transit Oriented Communities incentives, which permitted South Bay Developers to build a larger structure than otherwise allowed by zoning rules. In exchange, eight of the apartments are to be set aside as affordable housing at the extremely low-income level.
DE Architects is designing 444 5th Street, which is portrayed in renderings as a contemporary mid-rise building. The apartments will be accompanied by amenities such as a fitness room, a recreation room, and a rooftop deck.
The new apartment complex is the second from South Bay Developers to break ground in San Pedro, following a smaller 32-unit mixed-use building now taking shape a couple blocks south on 7th Street.
Outside of San Pedro, South Bay Developers is also building a 15-unit mixed-use building just east of Normandie Avenue in Gardena.
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