June 13, 2016
The Los Angeles City Council approved the $150-million San Pedro Public Market project. The “transformative” project includes $50 million from the Port of LA’s Harbor Dept., in addition to the $100-million commitment from LA-based The Ratkovich Co. and San Pedro-based Jerico Development.
The unanimous 13-0 vote clears the path toward a 2017 construction start on the 30-acre retail, food and dining destination expected to be a “game changer for the waterfront.”
Council District 15’s Joe Buscaino called the moment “historic for us in the harbor area,” noting the community has long-pined for revitalization of the aging Ports O’ Call Village.
The Ratkovich Co’s Wayne Ratkovich says he understands and accepts the “enormous responsibility” of a large-scale public-private partnership, promising “to carry the project forward” toward full build out in 2020.