The Beacon Street Redevelopment Project is located in the seaside community of San Pedro, containing approximately 60 acres of gently sloping land between downtown San Pedro and the main channel of the Los Angeles Harbor. The general boundaries of the project are the Southern Pacific Railroad right-of-way on the east, Seventh and Fifth Streets on the south, Centre and Mesa Streets on the west, and Second and Third Streets on the north.

The Redevelopment Plan was adopted by the City Council on April 21, 1969 and amended on February 22, 1971 and August 29, 1980. The Plan goals include elimination of blight and creation of a healthy local economy; production of housing for low- to moderate-income families; removal of structurally substandard buildings; changes in land use to facilitate new water-oriented commercial development; provision of new public facilities; and expansion of employment opportunities.