Huge Rent-Controlled Complex in San Pedro to Be Razed for Condos

"It's really very sad because those buildings are basically sound. San Pedro has very few large housing complexes, period. (Southwinds) is certainly the last large block of more moderate rental units. City housing officials say the loss of Southwinds will have a significant effect on the San Pedro rental market, where the average rent in 1988 was $694--compared to about $475 for new residents at Southwinds."

"The 174-unit Southwinds development catered to moderate-income tenants and, because its apartments are spacious, couples with children. Many tenants had lived at the complex for years--decades in some cases--and thus paid rents that were below market because of Los Angeles' rent control laws. By last week, six months after they first received eviction notices, all the tenants had moved out."

"The townhomes, which Bozulich said will sell for at least $300,000, will range in size from 2,000 to 2,700 square feet and will have various amenities, including fireplaces and two- and three-car garages. The development, which Bozulich said will cost in excess of $30 million, will replace the 9.3-acre Southwinds complex with 163 two- and three-bedroom units."

Southwinds Apartments, a 174-unit rent-controlled complex in San Pedro, is being demolished to make way for luxury condominiums. The development housed moderate-income families and couples with children, many of whom had lived there for decades and paid below-market rents due to Los Angeles rent control laws. All tenants vacated within six months of receiving eviction notices. The replacement project will construct 163 townhomes priced at minimum $300,000, ranging from 2,000 to 2,700 square feet with amenities like fireplaces and garages. City housing officials warn this loss significantly impacts San Pedro's rental market, where average rents are $694 compared to Southwinds' rates as low as $300 for three-bedroom units. The development represents the disappearance of the area's last large block of moderate rental housing.

Read at Los Angeles Times