Politics aside, great overview of san pedro changes!
San Pedro’s waterfront development gets a $30 million investment partner
n what is being hailed as a milestone by San Pedro’s waterfront developers, an equity finance firm in Spokane has committed to a $30 million investment in the $150 million project. The infusion, if approved formally by the port this summer, guarantees the completion of the San Pedro Public Market project’s design and permitting process.The developers released the information Monday, March 25.
The Los Angeles Board of Harbor Commissioners is expected to approve the deal with Osprey Investors in early July, setting the stage for what is still hoped to be a 2021 opening of the first phase of the development that replaces Ports O’ Call Village.
The investment was a significant hurdle, developers said.
“This is what gets everything else you need moving along,” said Alan Johnson of Jerico Development in San Pedro, the company that has partnered with The Ratkovich Co. on the San Pedro Public Market waterfront project.
San Pedro Public Market will have direct pedestrian waterfront access along its entire site and will feature portside dining, entertainment and recreational activity as shown. There will also be 600’ of day use courtesy slips allowing boaters direct access from the water.Image courtesy of RAPT Studio, lead project architect and James Corner Field Operations, landscape and urban designers
Outdoor concert venue for 6,000Developers also announced they have entered into exclusive negotiations with Nederlander Concerts Los Angeles to explore adding a 6,000-seat outdoor concert and entertainment venue, dubbed by Johnson as a “waterside” Greek Theatre, which Nederlander also has managed in the past with bookings including Paul Simon and Bruce Springsteen.
News of the cash infusion comes as the Port of Los Angeles, the property’s landlord, begins laying the groundwork to build a town square in front of the Los Angeles Maritime Museum and a promenade that will stretch along the linear development site next to the Main Channel.
It’s been three years since the Los Angeles Board of Harbor Commissioners approved the 50-year lease for the new San Pedro Public Market on the site. But planning for the project dates back further than that.
“All these things just take an amazing amount of time,” Johnson said. “It’s been about seven years come this July since we’ve been working on it. If you’re in a hurry, real estate investment is not for you. … It’s just been a long expedition.”
Wayne Ratkovich of the Ratkovich Co. said the equity contribution “is a critical milestone in our commitment to deliver the centerpiece of the LA Waterfront’s transformation.”
Other financing will be needed but Johnson said that will be easier with this piece in place.
Bumpy transitionThe move to transition from the once-beloved Ports O’ Call Village into something newer hasn’t been an easy one.
As wrecking balls took aim at the 1960s waterfront attraction in the past year, some in the community began to question whether it should have been saved instead, especially the iconic Ports O’ Call Restaurant. Legal battles between the port and longstanding tenants didn’t help the emotional climate.
But the eclectic seaport attraction, once a dependable draw for tourists and locals alike, had been losing customers since the late 1980s. High-end shops moved out and were replaced by more trinkets. Its East Coast fishing village clapboard buildings were riddled with termites.
Johnson said he understands the sadness in losing Ports O’ Call, but remains confident that the new development will play the same significant role for the community’s younger generations.
Money, tenants materializing?Early responses to the proposed new development were favorable but more recently began turning toward cynicism as residents questioned whether the funding and tenants were not materializing.
Developers hope this week’s announcements put some of that to rest.
“We’ve heard (the mantra) ‘No money and no tenants,’” Johnson said of the growing frustration. “Well now we have money and we have tenants” — although final contracts have yet to be signed and announced.
Developers are talking with some local restaurant owners and envision “a mix” of those kinds of businesses along with some chain restaurants.
“It’s going to be about what’s going on inside the buildings,” he said, adding that the emphasis will be on bringing people back. “It’s going to be lively and it won’t be the same thing a year after we open.
But Johnson acknowledged it’s all taken longer than first believed.
“If someone had said this would take seven years (to reach this point) I’d have said, ‘No, that’s impossible,’” Johnson said.
Plans still ‘flexible”Plans for the development include restaurants, open space and shops along with entertainment areas. Ideas have evolved — and will continue to do so — as planning continues, Johnson said.
“We’re not stuck in our plans,” Johnson said, adding that some of the newer ideas were not around when discussions began. “Container kitchens, a dog-friendly place — seven years ago these were not ‘the thing,’” he said. “We have a lot of room for flexibility and we’re going to be nimble.”
Among the plans:
It also comes at a time when other development is coming into San Pedro, from a new brewery to AltaSea and several mixed-use projects all now open or being constructed in phases in the downtown/waterfront area.
“It’s our time to grab the golden ring,” he said.
Welcoming another new charming business to downtown San Pedro!
Battleship Iowa Museum announces $19 million expansion plan. This is how it will be renovated
Nelson Street plans await review, could result in San Pedro’s tallest building
Boutique Hotel Planned Next to San Pedro's Warner Grand Theatre
Wrecking ball is poised to take down what remains of San Pedro’s Ports O’ Call Village
Los Angeles County receives new bids to remake San Pedro’s closed courthouse property
One of San Pedro’s prime development parcels is about to get back into the queue.
Six months after Los Angeles County officials pulled the plug on the first developer tapped to overhaul the 1.8-acre county courthouse, 505 S. Centre St., which has sat closed since 2014, the deadline for new bids has closed — with several responses pouring in from prospective developers wishing to remake the property.
The county has not released specifics about how many developers submitted bids, or who they were.
“We are starting over,” Los Angeles County Supervisor Janice Hahn said in a statement. “This time around we have more interest in this property and that gives us a better opportunity to build a project that we can be proud of.”
Officials are now reviewing the proposals, a process they expect to finish by mid-to-late October, with a recommendation for the supervisors anticipated for November.
Under the first developer, Holland Partner Group of Vancouver, plans revolved around a mixed-use project.
When those negotiations fell through in March, some, including Los Angeles City Councilman Joe Buscaino, suggested the county should sell the property to a developer as one way to move the process along more quickly.
Holland, selected in November 2016, was eliminated in March after the two sides could not come to a project agreement following months of exclusive negotiations to nail down the details. County officials said Holland requested terms that were not financially feasible.
The property has long been viewed as a key parcel in San Pedro’s plans to revamp the downtown shopping district while better connecting it to the waterfront just a few blocks away, which is also being revitalized.
The hope was that the courthouse property could be finished around the same time as the San Pedro Public Market, scheduled to open in 2020 or 2021 in place of Ports O’ Call Village.
Developers for a new Rancho San Pedro development chosen for exclusive negotiations
An ambitious plan to redevelop San Pedro’s subsidized housing project could soon have a developer.
A 90-day exclusive negotiation period will begin with The Richman Group and One San Pedro Collaborative, chosen for the task that is expected to increase the 21-acre footprint and increase units from 478 to as high as 1,623.
All of the existing units will be replaced. In addition, more housing of a variety of types (affordable, market rate, rentals, for-sale) will be part of the new redeveloped project
The developers were selected for several reasons, including a focus on community engagement and the on-site services proposed as part of the housing, said Jenny Scanlin, chief strategic development officer for the Housing Authority of the City of Los Angeles
“They spent a lot of time talking not only to the Rancho San Pedro residents but to stakeholders in San Pedro to get the sense of what the community wanted,” Scanlin said.
Amenities could include such things as job training and counseling, a grocery store and other retail, community and youth services, family clinics and fitness centers.
The negotiation agreement comes with the option for two additional 90-day periods for talks if needed.
The additional density will be accomplished possibly by piecing together adjacent properties and also by building up, with taller buildings located on Harbor Boulevard and lower-scale buildings behind that as the property moves closer to neighborhoods.
No specific drawings are available at this stage, but Scanlin said the idea is for developers and the city to go out for public meetings as negotiations begin and continue to continue a discussion about the project that will be planned.
Los Angeles City Councilman Joe Buscaino called the selection of developers for the project “yet another game changing moment for San Pedro.”
While redeveloping the site has been brought up in the past, this time proved more positive, he said, due to the “buy in” from the residents already living in the World War II housing that was originally built for shipyard workers. No current residents will be displaced under the proposal.
The total number of units will be part of an ongoing discussion.
The city is in a good position, Scanlin said, to take on the Rancho San Pedro project.
It has already been rebuilding other low-income housing projects in the area, including Dana Strand in Wilmington and Harbor Village (formerly Normont Terrace) in Harbor City.
More recently, the city launched a $1 billion makeover of Jordan Downs in Watts, designed to become a new model for public housing.
Created to be indistinguishable from the surrounding community, the new developments are designed to do away with the stigma of low-income housing projects.