City of Los Angeles officials have announced an innovative land exchange transaction between the Port of Los Angeles and the Los Angeles Department of Water and Power (LADWP) that will enable the Port to proceed with development of the Avalon Promenade and Gateway, a key component of its Wilmington Waterfront Development Program. The land exchange will also provide LADWP with land required to move forward with the redevelopment of its Harbor Generation Station in Wilmington.
“Today marks the first step in the construction of the long-anticipated Wilmington Waterfront, said Los Angeles City Councilman Joe Buscaino. “This new Waterfront will attract and incentivize further investment into Wilmington and improve the value of the entire community while creating new opportunities. With the expansion of the waterfront, Wilmington continues to be an up-and-coming neighborhood in LA.”
For more than a decade, the Port and LADWP have been working on a way to connect Avalon Boulevard to the Wilmington Waterfront through land controlled by LADWP, a four-acre parcel that currently houses a 500,000-barrel petroleum storage tank and other buildings. The land swap now gives the Port control of the parcel at Avalon Boulevard and Harry Bridges Boulevard, allowing the Port to move ahead with the next phase of Wilmington Waterfront development – the Avalon Promenade and Gateway.
Tuesday, June 16, 2020
