Will Point Fermin, San Pedro area ever see a major redevelopment? (Los Angeles: oceanfront, apartment complex)

[waltchan]

Because this special area near Point Fermin Park is known to drop up to 35 F degrees cooler than at Los Angeles inland if it reaches 100 F degrees. And it's really icy and cool year round long. Will it ever see a major redevelopment or gentrification?

There's a large apartment complex at the most southernpoint of San Pedro with direct, oceanfront view (corner of Pacific Ave. and Bluff Pl.), and they are currently renting a 1 bed apt for $1,150 and 2 bed apt for $1,450. Are you kidding? This is so DIRT CHEAP for a cool, oceanfront view apartment. What is going on here?

It would be nice and more appropriate by the city of Los Angeles to demolish this apartment complex and put in a 30-story high-rise condo tower with breathtaking 360 degree ocean view.

Will there be any future development plans going on for Point Fermin area?