High Street Residential JV Kicks Off LA Project
The 281-unit community is set to come online in 2028, before the Summer Olympics.
A joint venture between High Street Residential, a Trammell Crow Co. subsidiary, and Haseko North America has broken ground on Jules San Pedro, a 281-unit multifamily project in San Pedro, Calif. This marks HSR’s second project within the city’s downtown area.
Partners on the development included KFA Architecture as designer and Westport Construction as general contractor.
In January, the developer took out a $80.8 million construction loan from Sumitomo Mitsui Bank, according to Yardi Matrix information. That same month, the duo closed on the land acquisition.
Completion is scheduled for the second quarter of 2028, before the Summer Olympics. San Pedro will serve as the host for the Olympic sailing events.
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Located at 155 W. Sixth St., in the San Pedro Waterfront Arts District, the site is close to multiple dining and retail options. The community is taking shape across the street from the West Harbor project, a 42-acre, mixed-use entertainment destination. Downtown Los Angeles is within 25 miles.
The eight-story development will also include roughly 1,300 square feet of ground-floor retail space. The unit mix will consist of studio, one- and two-bedroom floorplans.
Shared amenities will comprise a sky lounge and rooftop deck with harbor views, swimming pool with deck, courtyard with sauna and spa, as well as a clubhouse. The community will also have an indoor/outdoor fitness center, multiple barbecue areas, a spa, a coworking lounge with conference rooms and collaborative workspaces and EV charging stations.
LA multifamily completions keep steady
Los Angeles ranked among the top 10 metros for multifamily developments completed last year, with 90 communities totaling 11,909 units coming online. These figures were on par with the ones registered a year before.
At the beginning of this year, 178 projects were under construction. One of them is JPI’s Portico, a 272-unit community in Long Beach, Calif. The $150 million development is set to come online in June 2028.
