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Too bad the folks in San Pedro chose to squabble for so many years - with the Port of L.A. and with themselves - on how to redevelop their aging community. Last year city officials finally signed off on a 10-year, $1.2-billion waterfront project, but good luck getting any of it funded anytime soon. From the Daily Breeze:
"The reality is that you're going to see projects here that do not have funding," [Port of L.A. executive director Geraldine Knatz] told the crowd Thursday night at the Crowne Plaza Hotel in San Pedro. "Our plate is full. "So we've got some projects on hold but that doesn't mean that every day we're not strategizing about how to move forward."
It's really a shame. Without all the bickering, they could have gotten this thing off the ground several years ago, when the credit markets were still open to projects of this size. Now? Get in line.
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.