L.A. to study economic feasibility of San Pedro waterfront redevelopment

LOS ANGELES — City officials are beginning to allocate taxpayer money to realize a planned waterfront revitalization in San Pedro, where Los Angeles Mayor Eric Garcetti and some of his colleagues hope to establish a visitor-friendly destination amidst recreational boating marinas, commercial ships and a fish market. The Los Angeles City Council unanimously authorized to City Hall departments to fund a real estate and market feasibility study. Staff members from the Economic and Workforce Development Department (EWDD) and Harbor Department (HD) were directed to equally split the $60,000 bill to fund the study. Both departments will hire consultants to analyze the market feasibility of publicly-owned sites at the L.A. Waterfront, which the city boasts as a tourist destination home to recreational boating, commercial shipping, a cruise center, museums, restaurants and the USS Iowa. A final report is expected to be complete by Aug. 30. City Council’s action in June 10 was the most action on proposed plans to redevelop the L.A. Waterfront in about three months. Garcetti appointed a citywide panel in February to guide the L.A. Waterfront redevelopment strategy. Very little has been made public about the redevelopment since a city council committee discussed broad plans to revitalize San Pedro in March. The...