LOS ANGELES, March 2, 2016 /PRNewswire/ -- Los Angeles-based developer The Ratkovich Company and San Pedro-based Jerico Development together with Los Angeles Mayor Garcetti, Los Angeles Councilmember Buscaino and Port of Los Angeles Executive Director Gene Seroka today unveiled plans for a $100 million transformation of Ports O' Call Village, a 30-acre retail and dining attraction along the Los Angeles Waterfront in San Pedro. The ambitious plans call for a world-class, urban waterfront destination for locals and tourists that reenergizes the boardwalk and downtown San Pedro, creating walkability between the two districts. Building on the unique heritage of the Port, and as a reflection of its future, the property will be renamed the San Pedro Public Market.
Phase I of the San Pedro Public Market will include 16-acres of restaurants, shopping, fresh markets, boutique-style office space and more than half a mile of waterfront promenade. The San Pedro Public Market will also feature ample outdoor space, including an open-air amphitheater for live entertainment, interactive family-friendly attractions, and year-round events all designed to celebrate the best of the waterfront community and its culture.
"The L.A. Waterfront should be a celebration of our beautiful shoreline — a world-class destination where families and friends can eat, play, stroll along the water, and spend time together," said Mayor Garcetti. "I am committed to giving this community the waterfront it deserves, and I'm proud that we are one step closer to fulfilling that vision."
"The Port of Los Angeles represents an important part of Los Angeles' history and we're excited for the opportunity to reimagine the former Ports O' Call site as the San Pedro Public Market," said Wayne Ratkovich, president and CEO of The Ratkovich Company. "We were inspired by iconic waterfront destinations around the world and those inspirations will be used to create an experience that celebrates the culture of L.A. and pays tribute to the history of the port and its surrounding communities."
"This new development will become the defining jewel of the LA Waterfront and seamlessly connect our growing assets to create one the best destinations in our region. The San Pedro Public Market will reflect the history, charm, flavor and spirit of the generations of people who have called this town home. This will be a unique destination for everyone who has a connection to food, culture and the ocean," said Councilmember Joe Buscaino.
"This proposed San Pedro Public Market will be a focal point and anchor for the efforts the Port of Los Angeles has made over the last decade to create a pedestrian friendly public waterfront from Banning's Landing to Cabrillo Beach," said Gene Seroka, executive director of the Port of Los Angeles. "The port has invested approximately $600 million in our Port's waterfront access infrastructure over the past decade, and our continued investment, in parallel with private investors like The Ratkovich Company and Jerico Development, will bring new life to this wonderful visitor asset."
The Ratkovich Company and Jerico Development worked closely with the City of Los Angeles and the Port of Los Angeles to revive one of San Pedro's most beloved civic icons — the Waterfront Red Car. The original Waterfront Red Car trolley service operated from 2003-2015 using vintage and replica Red Cars from Pacific Electric Railway, which operated more than 1,000 miles of tramway in the early 1900's throughout greater Los Angeles. The Red Cars will be individually restored and take visitors through the center of the San Pedro Public Market.
Phase I of the San Pedro Public Market was designed by Tim J. Delaney Design and TFO Architecture. Construction will begin in 2017 and will take place in tandem with the Port of Los Angeles' $52 million infrastructure upgrades. The San Pedro Public Market is a key component of the revitalization of the LA Waterfront, in which the Port has invested $600 million since 2004 and plans to invest an additional $400 million by 2026.
The San Pedro Public Market is expected to open in 2020.
About Jerico Development
Founded in 1984, Jerico Development is the owner and developer of 1.2M square feet of commercial space including three historic buildings in San Pedro. Jerico Development also has 380 residential units developed or in planning and has developed more than 12,000 acres of land and mixed-use subdivisions.
About The Ratkovich Company
The Ratkovich Company is a Los Angeles development company that engages in both new development and the imaginative reuse of existing buildings. The company has completed, or has under development, nearly 18 million square feet of commercial space in Los Angeles County, including The Bloc, a 1.8 million square foot, mixed-use property at the heart of downtown Los Angeles that will become the premier urban retail, office and hospitality destination. The company has also redeveloped The Alhambra, a 45-acre mixed-use urban community in the city of Alhambra, and The Hercules Campus at Playa Vista, a landmark property comprised of 11 historic buildings, including the hangar where Howard Hughes' legendary Spruce Goose was built. The Hercules Campus is home to Google/YouTube, Konami and 72andSunny. The Ratkovich Company has won numerous awards for its restoration of Los Angeles landmarks, including the art deco Wiltern Theatre and adjacent Pellissier building; the iconic 31-story 5900 Wilshire in Miracle Mile; the Chapman Market and the city of Glendale's Alex Theatre. The James Oviatt and Fine Arts buildings were also both awarded national landmark status after successful renovations by The Ratkovich Company. For more information, visit http://www.ratkovich.com.
About TFO Architecture
TFO Architecture is a full-service design, architecture, and consulting firm with a primary focus toward mixed-use, retail, and urban development projects in both the national and international forums. Their unique consortium of people and talent provide critical thinking design services for clients who are intent upon realizing a vision. (tfoarchitecture.com)
About Tim J. Delaney Design
Tim J. Delaney Design is a comprehensive creative design company that helps clients craft a clear vision and immersive story in the realm of experiential design. From resorts, theme parks, hotels, retail and mixed-use, they imagine and design memorable and entertaining environments that speak of time, place and story. (tjddinc.com)
Edelman for The Ratkovich Company
Edelman for The Ratkovich Company
SOURCE The Ratkovich Company