PORT OF LOS ANGELES SEEKS MASTER DEVELOPER FOR
30-ACRE WATERFRONT RETAIL DEVELOPMENT OPPORTUNITY
30-Acre Frontage Location will be the Retail-Commercial Focal Point of the Port’s $1.2 Billion “LA Waterfront” Development Program in San Pedro
SAN PEDRO, Calif. — July 26, 2012 — The Port of Los Angeles has issued a Request for Qualifications (RFQ) for qualified 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 City and Port of Los Angeles are pleased to offer qualified parties who have a vision for creating a world-class L.A. Waterfront, an unparalleled redevelopment opportunity that will rival other urban waterfronts around the globe,” said Los Angeles Mayor Antonio Villaraigosa.
“The redevelopment opportunity of the century is waiting on the waterfront, at the heart of the Pacific Rim in the Port of Los Angeles,” said Los Angeles Councilman Joe Buscaino. “The awesome majesty and spectacle of an urban waterfront mecca within minutes of millions is an attraction like no other in Southern California.”
“We are investing hundreds of millions of dollars in public waterfront infrastructure along 16 miles of community-adjacent port property at the Port of Los Angeles,” said Port Executive Director Geraldine Knatz, Ph.D. “We’re building a waterfront to fit the scale of the largest port complex in the western hemisphere at the doorstep of the largest regional market in the western U.S.”
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.
The parcel was developed as Ports O’ Call Village in the 1960s and was a popular regional destination for many years. The property is located just south of San Pedro’s historic downtown business and is within walking distance from the Port’s World Cruise Center, which sees hundreds of thousands of cruise travelers each year. 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 plans to select a master developer to carry out a comprehensive redevelopment of the property and enter into a long-term ground lease. Applicants will be reviewed based on their development vision and strategy for the site, their experience in developing premiere and unique commercial real estate projects and experience working with public agencies.
Developers interested in responding are encouraged to attend a pre-proposal meeting at 2 p.m. on Wednesday, Aug. 8 at The Plaza at Cabrillo Marina, 224 Whalers Walk, San Pedro, Ca. 90731. Click here for map.
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 supports more than 830,000 regional jobs and $35 billion in annual wages and tax revenues.
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