PORT OF LOS ANGELES ANNOUNCES COMMERCIAL DEVELOPMENT OPPORTUNITY AT CABRILLO WAY MARINA
SAN PEDRO, Calif. – August 6, 2018 – The Port of Los Angeles Waterfront Commercial Development Group has released a prospectus on a commercial development opportunity at Cabrillo Way Marina on the LA Waterfront in San Pedro. Later this year, the Port will release a formal Request for Qualifications (RFQ) and subsequent Request for Proposals (RFP).
“We are excited to begin the process of bringing the Cabrillo Way Marina development opportunity to the marketplace,” said Gene Seroka, Executive Director of the Port of Los Angeles. “We look forward to meeting with interested parties, answering questions and receiving input on this unique waterfront development opportunity in the Port of Los Angeles.”
Cabrillo Way Marina is one of many destinations along the Port's visitor-serving LA Waterfront, which consists of 400 acres of land and eight miles of prime waterfront Port property. The current development opportunity covers 87 acres of land and water and is located at the southwest corner of Miner Street and 22nd Street in San Pedro. The site includes a 12-acre commercial development area that includes 9.2 acres of landscaped parking and is entitled and ready for immediate development.
The Cabrillo Way Marina is a 700-slip marina with a 325 dry boat storage facility. In 2011, the Port of Los Angeles completed a $125 million upgrade and expansion of the marina and added nearly a mile of public waterfront promenade within this development.
Over the past 15 years, the Port has invested more than $600 million in public access infrastructure and activation of the LA Waterfront, which attracts more than 2 million visitors annually. Projects have included new public promenades, spaces for special events, and a number of visitor attractions, including Battleship IOWA and CRAFTED at the Port of Los Angeles craft marketplace.
Two major developments currently underway — the San Pedro Public Market and AltaSea at the Port of Los Angeles — represent more than $200 million in additional private investment over the next five years. In addition, expanded LA Waterfront business activity is anticipated with the recently announced development of SpaceX’s new rocket manufacturing facility across the Port’s main shipping channel from the future site of the San Pedro Public Market.
The Port of Los Angeles is America’s premier port and has a strong commitment to developing innovatively strategic and sustainable operations that benefit Southern California’s economy and quality of life. North America’s leading seaport by container volume and cargo value, the Port of Los Angeles facilitated $284 billion in trade during 2017. San Pedro Bay port complex operations and commerce facilitate one in nine jobs in the five-county Southern California region.