1588 Chastain Parkway presents a rare opportunity to fast-track the development of a beautifully designed Contemporary Mediterranean residence in the highly sought-after Pacific Palisades Highlands. Offered with RTI plans, the proposed home spans approximately 3,800 square feet and features a sophisticated blend of timeless Mediterranean architecture and modern finishes. The thoughtfully designed floor plan offers open-concept living spaces, seamless indoor-outdoor flow, and ocean and mountain views from the second story. Situated on a desirable corner lot, the property is surrounded by strong neighborhood momentum, with homes on both sides already well underway in the rebuilding process. Located in one of the most resilient sections of the Palisades, the Highlands is nearly fully repopulated and continuing its impressive revitalization. Residents enjoy access to the Summit Club's resort-style amenities, including a pool and spa, remodeled gym, basketball court, playground, and three tennis courts. The property is well positioned to benefit from the exciting renewal and long-term revitalization underway throughout Pacific Palisades. Palisades Village is scheduled to reopen in August 2026, with approximately 90% of its original tenants expected to return, along with exciting new additions such as Nancy Silverton's forthcoming restaurant, Spacca Tutto. Community favorite Cafe Vida is also anticipated to reopen this fall in its new Highlands Plaza location. Plans are also underway for a revitalized Palisades Recreation Center, designed in collaboration with the community to honor its legacy while building toward the future. Proposed enhancements include upgraded athletic facilities, expanded gathering spaces, and new community-focused amenities.Local schools remain a top priority in the area's rebuilding efforts, supported by more than $600 million in district investment. Palisades Charter High School has already reopened at its original campus while reconstruction continues, and Marquez Charter Elementary is actively operating on campus in temporary facilities during redevelopment.Discover a rare opportunity to create a custom residence in one of the Westside's most beloved coastal communities, where enduring appeal, a strong sense of community, and the optimism surrounding the Palisades' next chapter come together to offer exceptional long-term value and lifestyle.

Listing courtesy of N. Lili Geller of Compass

Based on information from the The MLS as of 2026-07-27 07:11 AM UTC. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.