Coast Energy, High Street Residential, Principal Asset Management, and Black Bear Energy Celebrate Solar Milestone at Vivo on Harbor with Ribbon Cutting Ceremony in San Pedro

Los Angeles – April 7, 2025 – Coast Energy is excited to join forces with High Street Residential (HSR), the residential subsidiary of Trammell Crow Company, Principal Asset Management^SM, and Black Bear Energy to celebrate the completion of a net metered solar project at Vivo on Harbor, an innovative new multifamily development located in San Pedro’s vibrant Waterfront Arts District. The solar array mounted on the rooftop of the building will produce over 120,000 kWh of renewable energy annually to offset the common area energy usage of the 137-unit residential complex.

A ribbon cutting was held on April 3, 2025, to officially mark the opening of Vivo on Harbor and the launch of its solar installation. The event highlights the collaboration between Coast Energy, High Street Residential, Principal Asset Management, and Black Bear Energy, celebrating the positive impact of renewable energy and sustainable development in the heart of Los Angeles County.

The rooftop solar system will generate clean, renewable energy to reduce the carbon footprint of the building’s common area. As a net metered project, the system will also provide energy savings to the development, contributing to High Street Residential’s commitment to sustainable building practices.

"We are excited to partner with Trammell Crow Company and Principal Asset Management^SM on the Vivo on Harbor project. This collaboration enables us to enhance net operating income (NOI) while advancing the building's decarbonization efforts through the provision of low-cost, reliable solar electricity.  By integrating our expertise in real estate, solar energy, and infrastructure, we are establishing a model for future developments that delivers higher-value properties supported by sustainable, value-adding energy infrastructure."– Blair Herbert, Founder and CEO, Coast Energy

The event was followed by a tour of the newly completed multifamily site, offering a first look at the impressive features and sustainability initiatives of Vivo on Harbor.  The development, situated at 511 S. Harbor Boulevard, features a mix of 137 residential units along with ground-floor commercial spaces and three levels of parking. In addition to the solar array, the project boasts a range of luxury amenities, including a rooftop clubhouse, expansive fitness center, pet-friendly spaces, and a tech-forward coworking area.

“We set out to deliver a state-of-the-art complex that harnesses inclusion and collaboration and embodies the dynamic culture of the San Pedro area,” said Alex Valente, principal at High Street Residential’s Los Angeles office.  “Rooftop solar that powers the building is the cherry on top that we feel epitomizes the energy of this blossoming community.”

The ribbon cutting serves as a celebration not only of the Vivo on Harbor development, but also of the successful integration of solar power into a mixed-use residential community. As San Pedro’s Waterfront Arts District continues to evolve, Vivo on Harbor stands as an example of sustainable, forward-thinking development in a dynamic and rapidly growing neighborhood.

Jennifer McConkey, managing director of ESG and operations for real estate at Principal Asset Management, the development capital partner for Vivo on Harbor, reflected, “This is the type of investment that Principal Asset Management prides itself in making, one that breathes life into the local community and gives back to the environment through sustainable practices and minimized carbon emissions.”

“Vivo on Harbor is an exciting project at the intersection of innovative design and development,” commented Drew Torbin, Founder and President of Black Bear Energy.  “We are proud to have facilitated the solar installation at this collaborative endeavor that highlights the vibrancy of theSan Pedro community.”

For more information about Vivo on Harbor or to schedule a tour, please visit vivoonharbor.com. For an inside look at life on the San Pedro waterfront, follow the residential building on Instagram (@VivoOnHarbor) and Facebook.

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About Vivo onHarbor

Vivo on Harbor is a new residential mixed-use, waterfront building located in the heart of San Pedro’s up-and-coming Downtown Waterfront Arts District. An anchor to one of the best waterfront developments in Los Angeles, Vivo on Harbor boasts 137 thoughtfully designed apartments and a curated collection of amenities, all within walking distance to the transformed Port of Los Angeles Promenade and the highly anticipated, 42-acre West Harbor development. The eight-floor building was developed by High Street Residence (HSR), a residential subsidiary of Trammell Crow Company (TCC).

About High StreetResidential 

High Street Residential, the residential subsidiary of Trammell Crow Company, specializes in the development of multifamily housing. We have a deep background in urban, mixed-use residential development, as well as the redevelopment or repurposing of existing facilities. In the last 15 years, the firm has completed over $4billion worth of development with a current pipeline of over 3,500 units.

About Principal AssetManagement^SM

With public and private market capabilities across all asset classes, Principal Asset Management and its investment specialists look at asset management through a different lens, creating solutions to help deliver client investment objectives. By applying local insights with global perspectives, Principal Asset Management identifies distinct and compelling investment opportunities for more than 1,100 institutional clients in over 80 markets. Principal Asset Management is the global investment solutions business for Principal Financial Group^® (Nasdaq:PFG), managing $559.1 billion in assets¹ and recognized as a “Best Places to Work in Money Management”² for 13 consecutive years.

[1] As of December 31,2024   

[2] Pensions &Investments, “The Best Places to Work in Money Management”, among companies with 1,000 or more employees, December 2024.

About Coast Energy
Coast Energy develops, owns, and operates solar, energy storage, and microgrid systems, providing significant benefits to commercial real estate properties. With a nationwide presence,Coast Energy collaborates with leading real estate owners to deliver clean, reliable electricity that increases NOI and overall property values.

About Black Bear Energy
Black Bear Energy, a Legence company, is a technology-enabled commercial buyer’s representative specializing in onsite renewable energy and cleantech services. With a strong track record of delivering clean energy solutions for commercial real estate, Black Bear Energy has facilitated over 1,000 solar projects across the U.S., helping clients achieve significant energy savings and sustainability goals.