L.A. Waterfront – San Pedro Public Market

Recently we attended an exclusive update on the work being done at The Port of Los Angeles, also commonly referred to as the L.A. Waterfront. The update was held in downtown San Pedro, high above street level on the 11th floor of Topaz Building.  Two primary speakers joined us. First, AltaSea CEO Tim McOsker would update us on the company’s involvement at the port and their vision of providing jobs to the area. Last but not least, Los Angeles City Councilman Joe Buscaino with an update on the Los Angeles Waterfront and what San Pedro is currently doing in anticipation for its completion date of 2020.


AltaSea – Tim McOsker

Alta Sea will be one of the residents at the Los Angeles Waterfront in San Pedro. AltaSea’s vision is “an ocean to solve world challenges and sustain future generations”. With a 50 year lease in hand, the company will invest $150M into Phase 1 of the project which will create 4,200 temporary jobs, 1,350 permanent jobs, most of which will come from the campus and surrounding businesses that will lease space from Alta Sea. The company predicts $290M in annual increased economic activity.

Bidding for the project is due to start at the end of the year.

For more information on AltaSea, visit https://altasea.org/

San Pedro – L.A. Waterfront

Although San Pedro has many local business, much of those businesses rely on the main economic driver in town: The Port. Historically, San Pedro has used the Port of Los Angeles as its economic engine.

Industries such as ship building, fishing, and canneries at one point or another were huge economic drivers for the port community. Unfortunately, many of the industries withered away by the late 80’s, forcing many locals elsewhere for jobs.

Today, only the port remains. With its museums, theaters, and art district, San Pedro has all the right ingredients for a fantastic community. See what has happened to Long Beach in the last few decades. The influx of aerospace and medical jobs has solidified Long Beach as a true live/work city. Aside from that, The Port of Long Beach, which is the second busiest seaport in the United States. The difference between Long Beach and San Pedro: high-paying jobs. Many locals are hopeful the changes at the port are paving the way for higher paying jobs in and around San Pedro, and with good reason when considering the companies that are looking to move into the area.

With AltaSea and SpaceX moving into the area, high tech jobs and education will soon be here. Now, the focus turns to keeping those highly paid employees in town. There are several projects currently in the works around town. Among them:

  • County Medical Clinic
  • 24th Street townhouse project (24 units)
  • Cabrillo Marina Pad (more potential housing)
  • Highpark
  • Warner Grand Theater Renovations
  • and more!

San Pedro Public Market

Providing high paying jobs to the area is one factor that attracts people. At the same time, having local entertainment is what will keep these high paid employees in town. One of the most anticipated projects for San Pedro is the San Pedro Public Market, which is due for completion in 2020.

Another indicator that San Pedro is on the rise is the increase in building permits pulled. According to councilman Joe Buscaino, building permits in San Pedro have increased drastically over the last few years. As Real Estate professionals in that specialize in the San Pedro market, we have seen a sharp increase of investors looking to purchase income properties below Gaffey St; which is/was considered least desirable area in town. That is all changing with all the money going into the waterfront.

San Pedro Real Estate Market

San Pedro is currently one of the hottest markets in the Los Angeles area. It is essentially the last community in Los Angeles where you can still buy an ocean view home for less than a million dollars. If you are looking for more information about this wonderful coastal community, visit our San Pedro page!


Who is The Prestige Team?

Rancho Palos Verdes Realtor Broker Associate Karen Anderson, along with her Real Estate Team, The Prestige Team, has been selling residential real estate in the South Bay, including Rancho Palos Verdes, San Pedro, and far beyond LA County for over 27 years and is ranked in the top 1% of realtors in Rancho Palos Verdes.  We specialize in transforming homes into impeccably presented real estate listings that command top dollar in the shortest amount of time!  

Learn more about us below!

Before After

For our Buyers:

Added Benefits When Working With Us

Contract Knowledge

The Residential Purchase Agreement is 10 pages of terms and conditions that stipulate every aspect of the purchase, and we know exactly how to use them to your complete advantage!

Expert Negotiators

As experienced Full-Service Realtors, we know how to leverage you buying and bargain power. Whether competing to get your offer accepted or negotiating repairs, our goal is to get you a great deal!

Team = Always Available

The added benefit of working with The Prestige Team is that one of our Real Estate Professionals is always available to help. No missed opportunities!

On Every Listing:

Need Additional Assistance? We Specialize in that!

Decluttering & Emptying Properties

Need help with decluttering? Whether you need a few boxes and an extra set of hands, have a house full of items that need to go, we have the resources in place ready to assist with your needs!

Schedule Management

Schedule Management is crucial if you have a time frame in mind for the sale of your home. Let us use our experience to ensure every aspect of preparing your home for the market stays on schedule!

Team = Always Available

The added benefit of working with The Prestige Team is that one of our Real Estate Professionals is always available to help. No missed opportunities!

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