The rapidly changing Port of Los Angeles is looking to transform 12 waterfront acres with “thriving” new commercial development at Cabrillo Way Marina.
The port’s commercial real estate arm put out a prospectus last week outlining the commercial development opportunity, which includes the marina itself and adjoining properties. It’s searching for firm to lease, operate, and build on the marina, which was upgraded in 2011.
Michael Galvin, the port’s director of waterfront and commercial real estate, says redevelopment could include “larger-scale” projects with retail, dining, and entertainment. Ideally, he says, the project would be unique enough to “become a visitor draw in itself.”
But the prospectus says port officials are “open to a variety of commercial development concepts.”
The marina project is just one of many that the port has in the works right now.
Just north of the marina site, work is underway now to replace the Ports O’ Call Village with a new Fisherman’s Wharf-style development called San Pedro Public Market. The port is also seeking to redevelop Warehouse 1, a historic, 101-year-old warehouse. And SpaceX recently signed a lease that allows it to build its interplanetary rockets at the port.
Galvin says additional development opportunities at the port will come to market in the next year.
A formal request for qualifications and proposals for the Cabrillo Way Marina site is expected to launch this fall.