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Areas of commerce include historic Mediterranean Revival style Malaga Cove Plaza, the Promenade on the Peninsula.Smaller shopping centers include the Peninsula Center, Lunada Bay Plaza and Golden Cove Plaza.By 1882 ownership of the land had passed from the Sepulveda family through various mortgage holders to Jotham Bixby of Rancho Los Cerritos, who leased the land to Japanese farmers.In 1914, Vanderlip vacationed at Palos Verdes in order to recover from an illness, and he was astounded by scenery he compared to "the Sorrentine Peninsula and the Amalfi Drive." He quickly initiated development of Palos Verdes.
The Olmsted Brothers contracted Koebig & Koebig to perform engineering work, including surveying and road planning. By 1921, Vanderlip had lost interest in overseeing development of Palos Verdes and enticed Edward Gardner Lewis to take over the project with an option to buy the property for million.However, the project stalled as World War I started, and Vanderlip accepted a chairmanship to the War Savings Committee in Washington, D. Lewis was an experienced developer, but lacked the capital to purchase and develop Palos Verdes.Instead, he established a real estate trust, capitalizing the project through the sale of notes which were convertible to Palos Verdes property.The new trust assumed not just the land, but also the improvements made by Lewis.They were not complete, but they were substantial: many sewers, water mains, and roads; landscaping, parks, and a golf course.