By Joshua H. Silavent
November 6th, 2012 – Eight commercial real estate developers are in the running for a contract to remake the 30-acre Ports O’ Call Village on the San Pedro waterfront, and the Los Angeles Harbor Commission will likely enter exclusive negotiations by the end of the year or in early 2013.
“We are very pleased with the number of responses,” Port of Los Angeles Executive Director Geraldine Knatz said in a statement. “We received proposals from a variety of respected, experienced and well-financed firms that see great potential and possibility for this unique waterfront site.”
Port officials have expressed their desire to see new retail, dining and entertainment venues at the village, which is located along the port’s main channel, close to Downtown San Pedro, and includes 3,000 linear feet of water frontage and 375,000 square feet of retail- and tourism-entitled uses. The redeveloped village is likely to include a promenade along the waterline for walkers, runners and bicyclists, serving as an anchor for the entire district.
A five-member panel of port staff and independent representatives with redevelopment and urban planning experience will interview and rate the eight developers and their proposals with the following criteria in mind: strategy, vision and experience in developing commercial real estate projects and working with public agencies. The panel will then refer its recommendation to the harbor commission. Port officials said that the selected developer would be required to solicit community feedback on the redevelopment while lease negotiations are underway.
Port spokesperson Phillip Sanfield told the Business Journal that a 2015 break-ground date for the redevelopment is likely as the lease for current village tenants, which include a few restaurants and a fish market, expires at the end of 2014.
Rehabbing the village complements a larger, 400-acre, $1.2 billion San Pedro waterfront redevelopment plan the Port of Los Angeles launched in 2009, which includes a new harbor, public plaza, marine research center and various green spaces, among other things. However, the port will not be subsidizing the Ports O’ Call Village redevelopment.
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A Look At The Eight Developers
• Battaglia, Inc. – Based in Newport Beach, this real estate firm specializes in theme park and entertainment district design and development.
• Cal-Coast Companies, LLC – Based in Los Angeles, this residential and commercial real estate firm already has built office space and a hotel in the Cabrillo Marina area of the Port of Los Angeles.
• LA Waterfront Alliance – This collective includes the Victory Group, a San Pedro-based firm with a penchant for renovating historic sites, and Los Angeles developer Wayne Ratkovich.
• Majestic Realty Co. – Based in Los Angeles County, this firm has developed everything from business parks to retail spaces. President Edward Roski has proposed building an NFL stadium in the City of Industry.
• McArthurGlen Group – Based in London, this firm specializes in developing upscale designer shopping outlets.
• Rising Realty Partners – Based in Los Angeles, this commercial and industrial real estate firm oversaw the Library Square redevelopment in Downtown L.A.
• Sonnenblick Development LLC – Based in Los Angeles, this real estate firm specializes in resort hotel developments.
• Strata Properties & TFO/TDD Partners – Based in Newport Beach, this commercial real estate firm specializes in retail developments large and small.