The 49-acre site of an aging power plant in Redondo Beach will be transformed into a mixed-use development including 2,290 housing units, 510K SF of office space, a hotel and a 22.5-acre park, according to plans filed by the developer Next Century Power.
The firm, a partner in Los Angeles based SLH Investment, bought the site from AES Corp. for an undisclosed sum in 2018. The 74-year-old AES natural gas plant will shut down this year and be demolished to make way for the waterfront development, which will be known as One Redondo.
Next Century Power will reserve 458 units of One Redondo as affordable housing for low-income households. The developer also plans to build a 300-room, 150K SF hotel on the southeast corner of the property.
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