Custom Homes Being Built in Palos Verdes

Construction has begun on Wallace Estates, a $50-million housing development on the Palos Verdes Peninsula that will eventually have 82 custom homes.

The 25-acre site on Armaga Springs Road near Highridge Road is the last major parcel approved for residential development in Rancho Palos Verdes, according to a spokesman for Wallace Estates Associates, the project's developer.

The 15-unit first phase of the project will be completed by next March, and prices are expected to start at $595,000.

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