San Pedro is a bustling waterfront suburb of Los Angeles, featuring a historic and important section of the LA Harbor. This area provided countless jobs on the docks and warehouses and was a critical port during World War II. Even today, countless tourists visit the area to take in the sweeping beaches, vibrant city life, and historical points of interest like Terminal Island to take in the sights.
However, what many aren’t aware of is a burgeoning, massive infrastructure and economic development plan in the works for San Pedro, known as the LA Waterfront. This type of major industry development has had a historic impact on housing values and prices in the area. San Pedro homes for sale have exploded in value by around 20% each year in recent times, making this a smart investment with many returns in the form of a better life and one of the best cities in the country to live in.
What is the LA Waterfront?
The LA Waterfront is a major project undertaken by the city and private industry partners to completely renovate and reshape the way the public experiences the beach area and adjacent businesses and restaurants. Focusing on sweeping open areas and retaining the majestic views of the Pacific that made Los Angeles a world-class destination, this walkable area will allow residents and tourists alike to mingle, recreate, and shop in a beautiful and aesthetically pleasing environment.
Some of the attractions you can expect to find on the LA Waterfront are:
- Historic Battleship Iowa from World War II
- Fanfare Fountains featuring dazzling light and water displays
- Free propane-powered trolleys for transport
- Art walks, live music, and other special events
Along with all of this, there are the usual incredible selections for shopping and dining that you would expect of a city like Los Angeles, and the peaceful and serene Pacific Ocean is merely steps away. According to the city, a small section is currently open to the public as of March 2022, and the rest of the project is almost complete and will be fully open by 2023.
It’s easy to see why a major investment like the LA Waterfront has made home values explode in San Pedro. Complete renovations like this of multiple blocks, creating an area where tourists and locals can shop and have fun are rare and tend to have the effect of raising the property values of all the lots around it. Contact a San Pedro real estate agent today to make sure you don’t miss out on this incredible opportunity and way to live the life you always wanted to live.