High Street Residential Breaks Ground on 137-Unit Waterfront Community in Los Angeles

Vivo on Harbor Will Offer Unmatched Waterfront Access and Views in LA’s Up-and-Coming San Pedro Waterfront Arts District Neighborhood

High Street Residential (HSR), the residential subsidiary of Trammell Crow Company (TCC), and JV partner Principal Asset Management^SM, through its specialized real estate investment team, have commenced construction on a new waterfront residential community in Los Angeles. Located in the San Pedro Waterfront Arts District neighborhood at the gateway to the Port of Los Angeles, Vivo on Harbor will offer 137 waterfront apartments, including 16 affordable units, and 1,488 square feet of ground-floor retail space. Construction is expected to be complete in Q4 2024.

The eight-story building will include a mix of studio, one-, and two-bedroom units, including a unique selection of one-bedroom apartments with a den for additional living or work-from-home space. Many units will feature outdoor balconies with views of the Los Angeles/Long Beach harbor and all residents will have access to a thoughtfully curated collection of amenities. A rooftop clubhouse will include an indoor gathering space and an outdoor terrace with BBQ grills and a firepit. Vivo on Harbor will also offer residents exclusive access to a water-facing co-working space on the third floor, a courtyard deck on the fourth floor, a state-of-the-art fitness center, a pet spa, and ample on-site vehicle and bicycle parking.

Located at 511 South Harbord Boulevard on the corner of 5th Street and Harbor Boulevard, Vivo on Harbor is one of the best waterfront sites in LA, offering incredible water views and direct access to waterfront amenities. The site is directly across the street from several recent and in-process neighborhood improvements including the recent Port of Los Angeles Promenade & Town Square expansion and future site of the mixed-use West Harbor development, which will ultimately become a new retail, restaurant and entertainment destination in the South Bay. The site is within walking distance to shopping, food/beverage and entertainment amenities within the historic downtown San Pedro Waterfront Arts District.

“The San Pedro community is undergoing an incredible evolution and enhancement to the many beloved attributes of this waterfront neighborhood, which is burgeoning into a community rich in culture and diversity,” said Alex Valente, Senior Vice President with High Street Residential. “The recent expansion of the Port of Los Angeles, which included the development of a 30-foot-wide waterfront promenade and a new four-acre town square, position San Pedro as an amenity-rich attractive alternative to other coastal communities. Along with our partners, we are excited to build a project that meets the needs of those living in or looking to move to San Pedro and enjoy the outstanding outdoor environment in a pedestrian friendly neighborhood. Vivo on Harbor is currently the only development of its kind along the waterfront, offering thoughtfully designed, modern apartments that further enhance the growing neighborhood, which we believe will continue to benefit from strategic investment in outdoor community space, entertainment, food and beverage over the next several years.”

"Over the past few years, HSR has proven to be incredibly committed to the San Pedro community, respecting our residents and local small businesses," said Elise Swanson President and CEO of the San Pedro Chamber of Commerce. "The development team has been actively engaged with the local community since day one, having gone out of their way to connect with the BID, the Chamber of Commerce and the Neighborhood Council, ensuring that this project was going to meet the needs of local stakeholders. We are excited to officially have HSR and their partners as part of the San Pedro neighborhood and we look forward to our continued partnership on Vivo at Harbor."

Project partners include KFA as the architect of record, Duane Border Design as the landscape architect, Snyder Langston as the general contractor, VCA as the structural engineer and DFDA as the MEP engineer. Comerica Bank is providing construction financing for the project.

About High Street Residential

High Street Residential, the residential subsidiary of Trammell Crow Company, specializes in the development of multifamily housing. We have a deep background in urban, infill mixed-use residential development, as well as the redevelopment or repurposing of existing facilities. In the last 15 years, the firm has completed over $2.7 billion worth of development with a current pipeline of over 4,500 units.

About Principal Asset Management^SM

With public and private market capabilities across all asset classes, Principal Asset Management^SM and its investment specialists look at asset management through a different lens, creating solutions to help deliver client investment objectives. By applying local insights with global perspectives, Principal Asset Management identifies distinct and compelling investment opportunities for more than 1,100 institutional clients in over 80 markets.¹ Its dedicated real estate investment team manages or sub-advises $98.5 billion in commercial real estate assets.¹ The firm's real estate capabilities include both public and private equity and debt investment alternatives.

Principal Asset Management is the global investment solutions business for Principal Financial Group® (Nasdaq: PFG), managing $484.6 billion in assets² and recognized as a Top 10 “Best Places to Work in Money Management³” for 10 consecutive years. Learn more at www.PrincipalAM.com. 

[1] As of September 30, 2022

[2] Pensions & Investments, 2021