The verdict is in: Holland Partner is out at the San Pedro courthouse redevelopment project.
Los Angeles County is looking for a new firm to redevelop the shuttered county courthouse building in downtown, after cutting ties with Holland Partner Group over financing and terms.
The county had been in exclusive negotiations with Vancouver-based Holland to develop a mixed-use project at 505 South Centre Street. Holland wanted a 67 percent reduction in property taxes and a free lease for the entire 66-year development agreement, according to the Daily Breeze, which first reported on the story.
The county also wanted to require Holland to commit to a full project labor agreement for the planned construction, which further constrained the financials.
L.A. County supervisor Janice Hahn said the county is now “seeking new developers to submit their proposals…as soon as possible,” the Daily Breeze reported. The 1.8-acre site is situated between San Pedro’s historic downtown and the Port of Los Angeles. The area has seen a number of projects recently. A company affiliated with SpaceX recently filed plans to develop a new manufacturing facility at the Port.
For the courthouse project, the county formally tapped Holland in November 2016, two years after shutting down the building. Now that Holland is out, local officials are concerned about further delays. Councilman Joe Buscaino suggested that the county could sell the parcel.
Holland, meanwhile, has other projects in the pipeline. The firm announced last week that it was developing a 271-unit apartment building in Long Beach.
[Daily Breeze] — Dennis Lynch