Ratkovich Cos. partnership secures $30M for sprawling San Pedro market project

The $150M waterfront development will include 300K sf of commercial space

TRD LOS ANGELES /
Mar.March 26, 2019 02:00 PM
Ratkovich Company’s Wayne Ratkovich and a rendering of the San Pedro Public Market

The Ratkovich Company and Jerico Development have secured $30 million to go toward the development of the sprawling San Pedro Public Market project.

Osprey Investors provided the latest funding, according to the Daily Breeze.

The money will cover the design and permitting process for the long-planned, 30-acre project, which is expected to cost $150 million.

Construction is set to begin early next year with a scheduled 2021 opening of the first phase of the development.

The proposal is for 300,000 square feet of commercial space, including a food hall and smaller shipping container restaurants. There will also be public green and pier space.

Ratkovich and Jerico announced the financing on Monday in tandem with the announcement of plans to partner with Nederlander Concerts Los Angeles to add a 6,000-seat outdoor concert venue to the site.

The San Pedro Public Market is being developed on land owned by the Port of L.A. and has been in the works for over a decade.

It’s been contentious in the harborside community because it will replace the Ports O’ Call Village, a restaurant and shopping center built in the 1960s that became a local mainstay.

In 2017, more than a dozen Ports O’ Call Village shop owners filed claims with the city against the Port of L.A. to block their eviction. [Daily Breeze]Dennis Lynch 


Related Articles

arrow_forward_ios
First District Supervisor Hilda Solis (Credit: Rebecca Sapp/Getty Images)

LA County select reopening target date for restaurants and retailers

LA County select reopening target date for restaurants and retailers
Holland Partner Group’s Clyde Holland and a rendering of the San Pedro project (Credit: MVE+Partners)

Holland Partner Group plans another resi project in San Pedro

Holland Partner Group plans another resi project in San Pedro
Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

Garcetti orders a moratorium on commercial evictions in LA

Garcetti orders a moratorium on commercial evictions in LA
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!
From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Rexford Industrial adds to LA portfolio with $100M in acquisitions
Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more
3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Luzzatto Co. assembling creative office hub in West Adams
Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

Faring makes $30M assemblage play on WeHo/LA border
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...