Large redevelopment projects for the Port of Los Angeles’ waterfront – and a vivid demonstration of ULI Los Angeles’ innovative programming – were the center of discussion at the Case Study and Site Tour on August 16, 2018. Aboard the Sir Winston, ULI members had the opportunity to hear from local leaders and developers about the 3-phase future development plans for the Wilmington and San Pedro Waterfronts
“Enhancing public access to the waterfront was essential in kicking off this redevelopment, drawing more visitors to the area,” announced Councilman Joe Buscaino, Los Angeles Council District 15. He focused on the major potential the waterfront areas have to increase tourism, add new businesses and create new jobs. While new parks and public facilities in the area have kick started this growth, several new development projects will carry this area into the next phase of development.
Michael Gavin, Director of Waterfront & Commercial Real Estate for the Port of Los Angeles, continued the discussion of the three-phase development for the Port. As we sailed past the underdeveloped waterfront, Michael pointed out key warehouses ripe for redevelopment and how they would contribute to the overall vitality of the Port. While accessibility is crucial, bringing in new businesses, restaurants and attractions will be essential to the redevelopment plan. Galvin also touched on the new cruise ship terminal, which is already near capacity, highlighting the need for more attractions for the influx of tourists to the area.
Sustainability and environmental conservation was also a common theme, expanding on future efforts to create a clean and environmentally friendly Port. Instrumental in this process is going to be AltaSea, self described “Ocean Innovators” who have signed a 50-year lease at the Port to create an education an innovation center aimed at creating a more sustainable Port. AltaSea’s 35-acre campus at the Port will bring together dozens of schools in the area, plus tourists and community members to expand science-based learning of the ocean, incubate and sustain ocean-related business and pioneer ocean-related education programs.
Perhaps the most exciting addition to the Port will be the San Pedro Public Market, being completed by the Ratkovich Company and Jerico Development. Located at the Ports O’Call Marketplace, this $150 million development will include a ¾ mile promenade, a multitude of restaurants, bars and entertainment. While the current San Pedro Fish Market receives the majority of its traffic on the weekends, this new marketplace aims to create an everyday destination for the Port. Expect the history of the Port and the fishing industry to shine through in the development, celebrating the rich diversity and culture of San Pedro.