Published on October 9th, 2013 | by Reporters Desk0
Ponte Vista Caps Homes to 700
SAN PEDRO — On Oct. 6, iStar Financial, the Ponte Vista developers, announced that it is capping the homes for the project to 700, with no rental properties.
The apartment building proposed for the south side of the site has been taken off the plans. Now the 2.4 acres will be replaced with a public park on Western Avenue, which will be open to the public. This also means that the development will not include any rental property, only homes for sale. A new condominium flat with ground-level parking was designed in smaller buildings.
The project also includes about 208 single-family homes covering about 50 percent of the project and a dedicated road to Mary Star of the SeaHigh School.
The new plan, which calls for 676 to 700, is 15 percent lower than the 830 proposed earlier this year by iStar and about 70 percent less than 2,300 that was proposed in 2005 by the original developer, Bob Bisno.
The 61.5-acre property used to be a Navy housing site, left vacant in 1997, before it underwent a change of ownership and development revisions.
The Los Angeles City Planning Commission is scheduled to consider the most recent plans at its Nov. 14. If the Los Angeles City Council approves the project in 2014, developers could be breaking ground by mid-year 2014.
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