Related California, Weingart Center Open LA’s Largest Supportive Housing Project
Weingart Center Association and Related California held the grand opening of 600 San Pedro, a 17-story residential mixed-use building with 302 units of permanent supportive housing on a 1.12-acre site in Downtown Los Angeles.
Owned and operated by Weingart Center and co-developed with Related California, 600 San Pedro is reportedly the largest 100% permanent supportive housing development in the City of Los Angeles. Formerly a parking lot, the development broke ground in October 2023 and finished construction ahead of schedule.
“We are proud to partner with Weingart to bring 600 San Pedro to life – a development that will help provide much-needed permanent supportive housing to Angelenos experiencing homelessness,” said Related California chairman and CEO Bill Witte. “We hope 600 San Pedro demonstrates that solutions are possible, collaborations work and doing nothing is not an option. Public-private partnerships are a key component to addressing the homelessness crisis in Los Angeles and California.”
On June 18, join industry-leading experts when they explore the most important topics in today’s CRE markets. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else. The 9th Annual Connect Los Angeles 2025, June 18 at the Intercontinental Los Angeles Downtown.
Other News
Multifamily Refinancing Squeeze: 41% Higher Costs, $6.8B Equity Gap
Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
Learn more
Mortgage Rates Tilt Demand Toward Multifamily: Marcus & Millichap
An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
Learn more
Revere, MA Weighs 1,700-Unit Housing Project
The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout