Development team One San Pedro Collaborative has locked in entitlements for a long-term plan to redevelop the roughly 20-acre midcentury public housing development Rancho San Pedro near the Port of Los Angeles.

The collaborative, a joint venture between Richman Group, National Core, Century Housing and the Housing Authority of the City of Los Angeles, on Tuesday officially got the green light from the LA City Council to overhaul the property, Urbanize LA reported.

The transformation would reboot the 478-unit residential development as a mixed-use project with 1,553 housing units, 1,090 of them income-restricted, and 130K SF of commercial space in buildings across nine city blocks. The new Rancho San Pedro would also have more than 5 acres of public green space.

The Rancho San Pedro property is roughly within the boundaries of Santa Cruz Street, Mesa Street, Third Street and Harbor Boulevard, according to HACLA. The oldest parts of the public housing complex were built by the Department of Defense in 1942 for wartime shipyard workers.

The project's design team will be led by SVA Architects, TCA Architects and City Fabrick, according to Urbanize.

HACLA is also redeveloping the Jordan Downs development in Watts. The multiphase redevelopment is expected to cost roughly $1B.