The Los Angeles Board of Harbor Commissioners Thursday approved a 50-year lease that is expected to clear the way for the redevelopment of Ports O’ Call Village into a retail and dining complex featuring restaurants, retail, office space, food markets and a waterfront promenade.
If approved by the City Council, the lease would allow developers to build the 30-acre waterfront as the San Pedro Public Market, with the project anticipated to be completed by 2020.
Renderings of the first phase unveiled earlier this year by the developers — The Ratkovich Company of Los Angeles and Jerico Developer working jointly as the San Pedro Public Market LLC — show a marketplace with shopping, restaurants, office space, a half-mile promenade and an amphitheater.
Developers also plan to include the Red Car trolley, using vintage and replica Red Cars that were part of the Pacific Electric Railway that ran in the early 1900s around Los Angeles.
Garcetti said that dreams of turning the Los Angeles waterfront into “a place where families, friends, and neighbors can gather to eat, stroll, shop and enjoy the water” is coming true.
“Today, I am proud to say that we don’t have to imagine it anymore,” he said. “With the signing of this lease, we bring these long-awaited plans to life and commit ourselves to the vision of a world-class waterfront in Los Angeles.”
Harbor Commission President Vilma Martinez called the market “a key component in our ongoing, broader plan to revitalize and re-energize the L.A. Waterfront and improve oceanside access for both locals and tourists.”
Developer Wayne Ratkovich said the approval “is an important step forward in this long awaited transformation to L.A.’s waterfront.”
Buscaino said the project will have a “ripple” effect that will “transform the entire harbor area into one of Los Angeles’ best communities.”
The developers were chosen through a bid process to redevelopment the Ports O’ Call site for the first time since the 1960s and is expected to spend $85 million to $100 million on the first phase. Under the lease, the port would also spend about $52 million on infrastructure and street improvements for the complex.
— City News Service