The LA Waterfront in San Pedro is currently under construction, building infrastructure and transportation in and around the harbor to support the incoming traffic and tourism it looks to bring to town.
Read below for recent updates at the LA Waterfront, or visit LA Waterfront’s official website for current and upcoming projects.
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/
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:
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 2021.
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 is currently one of the hottest real estate 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 to move to San Pedro, feel free to browse our “Peedro” page by clicking the link below!
The Los Angeles Unified School District (LAUSD) ranks second in the nation in student population; second only to the New York City Department of Education.
With over 1,300 campuses, LAUSD offers nearly 300 magnet programs available for K-12 students, including Business, Center for Enriched Studies, Communication Arts, Liberal Arts, Science, Technology, Engineering and Math, & Visual and Performing Arts!
See below for LAUSD and other schools in San Pedro!
*Note: Some LAUSD schools reside within the city limits of Rancho Palos Verdes, specifically in the Eastview area. Easview was annexed from Los Angeles (San Pedro) by the city of Rancho Palos Verdes in 1983. However, the school district was never changed to PV Schools. Since Eastview is technically part of the Los Angeles Unified School District, students in this area have the OPTION to attend PVUSD or LAUSD.
Contact us for more information.