After years of planning and environmental reviews, the San Pedro Waterfront project, spearheaded by the Port of Los Angeles and developer AltaSea, celebrated the groundbreaking of 'The Beacon Residences' this week. Located at 100 W. 5th Street, the 22-story tower will feature 350 market-rate apartments and 25,000 square feet of ground-floor retail.
"This is a truly transformative moment for San Pedro," declared Mayor Karen Bass at the groundbreaking ceremony. "The Beacon Residences are not just buildings; they are the foundation of a vibrant new chapter for our waterfront, bringing much-needed housing and economic vitality to this incredible community." The project is part of a larger master plan that includes new parks, a public market, and additional commercial spaces.
According to AltaSea CEO Dr. Terry Tamminen, the tower's design draws inspiration from San Pedro's maritime heritage, featuring expansive views of the harbor and Catalina Island. "We are committed to creating a destination that honors the past while building for the future," Tamminen noted. "The residential units will offer a mix of studios, one-, and two-bedroom layouts, with amenities including a rooftop pool, fitness center, and co-working spaces."
The construction phase is projected to create over 500 jobs, with a significant portion allocated to local hires. Completion of The Beacon Residences is anticipated by late 2028. Future phases of the waterfront project include a new public market and additional parkland, further cementing San Pedro's role as a major cultural and economic hub in Southern California.
