San Pedro Lofts

I have a client who is interested in buying a loft. There aren't that many in the Beach Cities, so I took her to San Pedro.

The San Pedro area between Gaffey and the water is just beginning a renaissance. There are plans for an amazing 9.5 mile waterfront transformation that include an extension of the Red Line, jogging and bike paths, parks, beaches, an amphitheater, fountains, boardwalk, a public plaza, museums and cultural attractions.

This is the historic area of San Pedro that was once home to the toughest roughest street in the world. Sailors and Marines from around the globe would hit the brothels and bars as soon as they were in the port.

That was roughly 100 years ago. http://en.wikipedia.org/wiki/San_Pedro,_California There was a substantial clean up of course, and then international and seafood restaurants sprang up . As with many semi urban areas, there are lots of artists there now, which I really enjoy.

The Papadakis family was instrumental in the clean up efforts and their restaurant "Papadakis Taverna" http://www.papadakistaverna.com/ was opened by brothers John and Tom (both former all star athletes) in 1973. That used to be the only reason to go to San Pedro ... well that and the big bear hugs one or the other of the brothers gave to each and every woman who entered! We had some wonderful family dinners there over the years that included Greek dancing and plate throwing!

Now three loft style developments have opened and more are on the way. The Vue http://vue-living.com/ is very "Marina del Rey" with its high tower and concierge service. It is the most expensive. The Centre Street Lofts http://www.centrestreetlofts.com/ are nearby and are about 70% sold and occupied. They are priced from the mid 300's to the mid 700's. They are offering some terrific incentives for buyers of the last 30%. The Bank Lofts,http://www.bankloftssanpedro.com/ one street over, will open in the next month.

As the area grows and the waterfront is completed, these lofts and townhouses are sure to appreciate which spells good investment. I was there yesterday with another client who might be priced out of the Manhattan and Hermosa, but who could afford a loft here. I was impressed with the quaint shops and coffee houses, sandwich shops, etc that are new to the area. You can see the activity at the Port of Los Angeles from any of the the three developments I mentioned above. And it's tough to beat the view of the Vincent Thomas Bridge http://www.sanpedrochamber.com/champint/vtbrdg.htm.

As much as I love Manhattan Beach, this area promises to be a great place for young professionals to get into the market or for folks who want to "downsize" from the house with the yard yet still be within walking distance of good food and interesting things to see.