Like a comet, the San Pedro's Ponte Vista housing project returns. The 62.5-acre old Navy housing site was originally going to be developed by Bisno Development, but then the developer filed for Chapter 11. According to the Breeze, five months ago, iStar Financial took over the project, following some other bank shuffling. Via the Breeze: "The latest incarnation - which [received a] favorable reaction from Los Angeles City Councilwoman Janice Hahn - calls for 1,135 homes to be built on the 62.5-acre former Navy housing site on Western Avenue.
That's less than half the original number - 2,300 homes - proposed in 2005. But it's still higher than than the 800 to 900 homes that many critics had called for to keep the development within its current zoning." A new environmental impact report will be done, one neighborhood council is quoted as stating there's still worry about what's planned, while the site "has become an eyesore in the northwest part of town." Meanwhile, the headlines surrounding iStar Financial seem a little dicey.
· Ponte Vista developers offer new scaled-back plan [Daily Breeze]
· Another Round for San Pedro's Ponte Vista [Breeze]