Friday, October 12, 2012

POLA Receives Waterfront Redevelopment Proposals

The Port of Los Angeles, which is seeking to redevelop 30 acres of waterfront property along the port’s main channel known as Ports O’ Call Village, says it received eight proposals from commercial real estate developers by the submission deadline.

“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 Executive Director Geraldine Knatz said in a statement regarding the bids, without naming any of the bidders.

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 30-acre parcel’s located within walking distance from the port’s World Cruise Center and the USS Iowa battleship museum.

To review and score the proposals, the port has assembled a five-member panel that includes two port representatives and three other people with extensive redevelopment and urban planning experience.
The panel will conduct interviews and score the various proposals, and is expected to recommend a developer to the Los Angeles Harbor Commission by the end of 2012.

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 addition to the $36 million Downtown Harbor water basin, promenade and public plaza under construction, other projects completed or underway include a $130 million marina and public promenade, the $16.3 million fountain and plaza and a $23.4 million promenade.