A $17 million loan is allowing a 12-story office building in the San Pedro area to be turned into residential housing.
KNX News’ Nataly Tavidian spoke to Tim McOsker, the L.A. city councilmember who represents the area, about the project.
“It is a nice office building and it's unique in that it has first-floor retail and it has two towers. The adjacent tower is parking,” he said. “It's about 600 spaces of parking which exists. It was expensive to build, I'm sure, but it's ideal that it exists because it can, it will be able to support both the housing and the retail development.”
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It will have balconies, parking, and ocean views. McOsker said that the need for land changes over time and there’s no longer a need for an office space at that location.
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