The Southern California Development Forum's November 14th,2023 meeting brought together key players invested in the revitalization of the Los Angeles Waterfront, a 400-acre parcel located in the harbor communities of San Pedro and Wilmington. The speakers, representing the diverse perspectives and parties involved in the development of waterfront joined forces at the Biltmore Hotel to discuss the ongoing transformation of the waterfront as it evolves into a thriving, multi-use community hotspot. 

A Transformational Vision for the Port of Los Angeles 

Michael Galvin, Director of Waterfront and Commercial Real Estate for the Port of Los Angeles, kicked off the discussion by highlighting the significant investment—nearly $1 billion—in the waterfront over the past year. The overarching vision for the next five to 10 years is to redefine the waterfront, moving beyond its historical role in cargo transportation to become a vibrant community space. 

Historically, the port has faced serious challenges including air pollution, water issues, and traffic congestion. To address these concerns, Galvin’s team has focused closely on various means to improve air quality in addition to the development of a promenade stretching from the bridge to the breakwater to help support an increase in foot traffic and reduction of vehicular traffic. Their focus though is not only on creating a visually appealing waterfront but also fostering connectivity, hence their plans for water taxis that will link Wilmington and San Pedro. 

Emphasizing the importance of community involvement, Galvin stressed the need for residential development and the creation of new industries. He envisions the waterfront as a hub supporting thousands of jobs.  

“This space will become a job location that can support thousands of jobs,” Galvin said. “It's about putting all of these different pieces together and keeping people there."  

The key, according to Galvin, lies in the public-private partnerships his team has worked to build and the trust they’ve fostered within the community—a trust earned over the past decade by investing in local groups, hearing what their pain points have been, and acknowledging what they hope to see the port become in the future, while strategically dividing real estate focuses among his team. 

Public-Private Partnership Driving the Development Forward 

Elise Swanson, President and CEO of the San Pedro Chamber of Commerce, spoke as part of the panel and expressed her gratitude for the long-standing public-private partnership between the local San Pedro community, LA-area government entities, and businesses that have helped to continually drive this collaboration forward toward completion.  

“We're so fortunate to have a community, government, and business partnership that's been 20 years in the making,” Swanson happily shared. “It’s been a long time coming but it’s like a diamond in the rough- all good things take time.” 

The synergistic approach of connecting San Pedro's rich history with a plan for a resident and local business-driven commercial future is a key driver of the development of the waterfront. As Swanson shared, the potential future collaboration with UCLA, given their recent acquisition of the old Marymount campus in the South Bay, will further enhance the educational and cultural aspects of the waterfront that will be available to the community, in tandem with AltaSea’s stake in the port’s renaissance. 

AltaSea is Creating a Blue Economy and a Redevelopment Renaissance

Terry Taminen, President and CEO of AltaSea, shared insights into the ecological impact of the waterfront's development. A 90% reduction in air particulate matter: it’s simply incredible. But more than that, it’s critically important for the native species in the water. And those species are at the forefront of Taminen’s mind. 

As part of the port’s expansion and redevelopment, there will be a 35-acre property dedicated to AltaSea serving as a multi-use facility focused on the blue economy. Taminen described his vision for aqua culture to permeate through the facility and into the heartbeat of the local culture. 

"We want to get kids excited about the ocean, so they'll protect it regardless of whatever field they go into in the future,” Taminen said. 

The AltaSea facilities will showcase sea creatures, the power of renewable technologies like wave power, and the incredible capabilities of underwater drones. To round things out, AltaSea will also provide job training for blue economy-focused roles, in addition to hands on educational opportunities for children ages 12 and up to inspire the next generation to be passionate about protecting the planet's oceans. 

Construction: The Final Lap to the Finish Line  

Thanks to Alan Johnson—Chief Executive of Jerico Development—and his team, construction on the reimagined Port of Los Angeles is rapidly underway. Johnson shared a few of the highlights of the future of the port's commercial spaces including a 20,000 square foot beer garden and an amphitheater—a few of the many amenities that Johnson feels are desperately needed in the South Bay. 

“There's a donut hole for entertainment in Los Angeles and it's in the South Bay," Johnson noted when sharing the need for more commercial entertainment, food, and beverage retailers in the South LA area.   

Despite facing ups and downs, years of pandemic-related setbacks, and nearly 11 years of preparation and planning before breaking ground, the port is now experiencing a surge in leasing momentum. 5,000 residential units will be a part of the dynamic redeveloped port community and much to the panel’s excitement, the pre-engineering steel buildings are anticipated to be completed in May and June of 2024 with tenant soft openings in mid 2025 and, finally, a grand opening at the end of the 2025 calendar year.  

The Los Angeles waterfront has been on a transformational journey to reach this point for over two decades now and the many, many hours of commitment are coming to fruition. From ecological sustainability and blue economy initiatives to community partnerships and vibrant entertainment spaces, the vision for the waterfront extends beyond commerce to create a dynamic space that showcases just how ready and resilient the South Bay is. The Los Angeles Waterfront redevelopment is not just another construction project; it's a testament to the power of collaboration, innovation, and a community's hunger for growth and success.