July 27 - A 30-acre quayside redevelopment of a key Californian port will present project cargo forwarders and heavy lift contractors a USD 1.2 billion infrastructure opportunity, promise promoters.
That is the prospect offered by real estate developers who seek to rejuvenate San Pedro waterfront property known as Ports O' Call Village, located along the Port's Main Channel and adjacent to downtown San Pedro, California.
The Port of Los Angeles has issued a Request for Qualifications (RFQ) for qualified commercial real estate developers, intending to kick-start the property development. Los Angeles mayor Antonio Villaraigosa says: "The City and Port of Los Angeles are pleased to offer qualified parties who have a vision for creating a world-class LA waterfront, an unparalleled redevelopment opportunity that will rival other urban waterfronts around the globe."
Port executive director Dr Geraldine Knatz says: "We are investing hundreds of millions of dollars in public waterfront infrastructure along 16 miles of community-adjacent port property at the Port of Los Angeles."
The development site includes 915m of rare water frontage and 37,500 sq m of retail and tourism-related entitled uses. Located at the south end of the Harbor (I-110) Freeway, the site is conveniently accessible to downtown Los Angeles and other key areas of Southern California.