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San Pedro: Banks Lofts Construction Stalls, G8 Proposed

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Sounds like things are getting dicey with the Bank Lofts project in San Pedro. According to the Daily Breeze, the developer behind the two-building project refuses to answer questions regarding the project's construction stall. Via the paper: "[Linda Wood, sales and marketing consultant for the Phoenix Realty Group] declined to answer other questions, however, including why construction on the larger building at 407-409 W. Seventh St. seems to have slowed to a near halt. 'I can't answer that question in a public forum,' she responded Wednesday during a meeting of the Pacific Corridor Advisory Committee." At the same time, other developers are planning more projects for the area: Galaxy Commercial Holdings, developer of the view-blocking VUE project in San Pedro, has announced plans for G8, a 23-story, 158-unit tower at Harbor Blvd and Fifth St. The name is license plate lingo for the word "gate," according to the Daily Breeze. [G8 rendering via Daily Breeze]
· San Pedro developers are quizzed about condo projects' future [Daily Breeze]