Port of Los Angeles Receives Eight Proposals to Develop 30-Acre LA Waterfront Property
The Port of Los Angeles received proposals and qualifications from eight commercial real estate developers interested in redeveloping the 30-acre, fully entitled San Pedro waterfront property known as Ports O’ Call Village, located along the Port’s Main Channel and adjacent to downtown San Pedro. The deadline for submitting proposals was Friday, Oct. 5th.
Proposals were received from Battaglia, Inc., Cal-Coast Companies, LLC, LA Waterfront Alliance, Majestic Realty Co., McArthurGlen Group, Rising Realty Partners, Sonnenblick Development LLC, Strata Properties & TFO/TDD Partners
“To have eight real estate developers competing for the opportunity to invest millions of dollars in the LA Waterfront speaks volumes about the potential of this site, and the growing momentum fueling the resurgence and revitalization of San Pedro,” Councilman Joe Buscaino said. “We’ve seen what public-private partnerships did for Hollywood and Downtown; it’s our turn now.”
“We are very pleased with the number of responses,” said Port Executive Director Geraldine Knatz, Ph.D. “We received proposals from a variety of respected, experienced and well-financed firms that see great potential and possibility for this unique waterfront site.”
The development site includes 3,000 linear feet of rare water frontage and 375,000 square feet of retail and tourism-related entitled uses. Located at the south end of the Harbor (I-110) Freeway, the site is conveniently accessible to downtown Los Angeles and other key areas of Southern California.
To review and score the proposals, the Port has assembled a five-member panel that includes two Port representatives and three other individuals with extensive redevelopment and urban planning experience. The panel will conduct interviews and use the evaluation criteria outlined in the Request for Qualifications issued by the Port in July 2012 to score proposals. Among the criteria are development strategy, vision for the parcel, experience in developing premiere and unique commercial real estate projects, as well as experience working with public agencies.
By the end of 2012, the panel is expected to recommend to the Los Angeles Harbor Commission entering into an Exclusive Negotiating Agreement with a developer. During the lease negotiations, the selected developer will solicit community input and feedback about the proposed project.
The 30-acre parcel is located just south of San Pedro’s historic downtown business and is within walking distance from the Port’s World Cruise Center. Other attractions within walking distance include the USS IOWA Battleship museum and CRAFTED at the Port of Los Angeles, a large-scale permanent indoor craft marketplace fashioned from two WWII warehouses by the developer of the popular Bergamot Station Arts Center in Santa Monica.
The proposed redevelopment site is in the immediate vicinity of several public waterfront enhancements, including a new downtown harbor and public plaza slated for completion in 2014. In recent years, the Port has made extensive investments in promenades, marinas, parks and other public waterfront amenities aimed at providing greater public access to the waterfront. In addition to the multi-phase, $36 million Downtown Harbor water basin, promenade and public plaza under construction, other projects completed or underway include the $130 million Cabrillo Way Marina and public promenade, the $16.3 million Fanfare Fountain and Plaza, and the $23.4 million Harbor Boulevard Parkway promenade.
The Port of Los Angeles is America’s premier port and has a strong commitment to developing innovative strategic and sustainable operations that benefit the economy as well as the quality of life for the region and the nation it serves. As the leading seaport in North America in terms of shipping container volume and cargo value, the Port generates more than 830,000 regional jobs and $35 billion in annual wages and tax revenues. The Port of Los Angeles – A cleaner port. A brighter future.