Lease Approved for L.A. Marine Research Campus

Posted by Michelle Howard
Wednesday, December 18, 2013

The Los Angeles City Council unanimously approved a 50-year lease to transform  a 100-year-old pier on the L.A. Waterfront in San Pedro into a world-class urban marine research and innovation center called AltaSea at the Port of Los Angeles. The lease agreement – signed between the Port of Los Angeles and Rockefeller Philanthropy Advisors, the latter who currently serves as the fiscal sponsor for the AltaSea project – involves approximately 35 acres of land and water at the Port’s City Dock No. 1 site, Berths 56-60 and Berths 70-71. 

“Public-private partnerships like AltaSea represent an innovative way to encourage investment and redevelopment in our communities,” said Los Angeles Mayor Eric Garcetti. “This new world-class urban marine research campus is projected to generate thousands of jobs and millions of dollars in related economic benefits over the next decade.”

“AltaSea is a game changer not only for the Los Angeles Waterfront but for the entire region,” said Los Angeles Harbor Commissioner Anthony Pirozzi. "Our Port continues to focus on growth as the nation’s premier trade gateway. AltaSea provides a unique opportunity to diversify the job base along the Los Angeles Waterfront with a world-class marine research institute that will become another economic engine for our region.”

The AltaSea site will be developed through a public-private partnership that includes the Port, AltaSea and a host of regional public and private universities.  Funding commitments for Phase 1 of the project total $82 million to date, including $57 million in site-related capital investments by the Port and a $25 million gift by the Annenberg Foundation.  Phase 1 is currently estimated to cost $185 million with a 2018 completion goal.

“We are sincerely grateful to the Port of Los Angeles for its support in helping bring the AltaSea vision closer to a reality,” said Marty Blank, a member of the volunteer AltaSea advisory cabinet. “AltaSea will not only benefit the communities of Southern California, but ultimately our greater human community through innovative research on the critical global marine and coastal issues of our time.”

The planned AltaSea campus will feature circulating sea-water labs, offices, classrooms, lecture halls, support facilities, an interpretive center, a facility for marine-related commercial ventures, and an opportunity to develop the world's largest seawater wave tank for studying tsunamis and rogue waves. The anchor tenant of Phase 1 will be the Southern California Marine Institute, a strategic alliance of 12 major universities in Southern California that have marine science academic and research programs. The entire project cost is estimated at more than $500 million with completion over a 15- to 20-year timeframe.

“AltaSea represents another tremendous addition to the transformed Los Angeles Waterfront, while also creating jobs and spurring local economic growth,” said Los Angeles City Councilman Joe Buscaino, whose Council district includes the planned project. “Approval of this lease is a big step forwad in getting the project underway and ensuring AltaSea’s success.”

An economic impact study conducted by Kosmont Companies projects that AltaSea will generate more than 6,500 construction jobs, resulting in $1.17 billion of economic benefit. The study also found that the new marine research campus will also generate approximately 1,350 professional jobs, with an estimated economic benefit of more than $290 million.

The AltaSea public-private partnership represents an unprecedented collaboration among government, business, marine science, education and philanthropy for conducting targeted research on marine and ocean-related problems. Once complete, the campus will provide work environments for researchers and scientists from major colleges and universities, government agencies and industries to study critical problems facing urban oceans today – from climate change to rising sea levels, from food supply to freak weather patterns, to a host of other pressing issues. 

For the first phase of the project (Berth 56 and 57), the Port has agreed to make improvements to the wharf and subsurfaces to ready the property for development. AltaSea will be responsible for upgrading the existing historic warehouse structures, as well as other improvements and facility operations.

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Diamond Offshore Shares on the Rise

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a better-than-expected quarterly profit as it cut drilling costs and hiked prices,

Italian Pleads Guilty to Marine-hose Price-fixing in US

A former executive of Parker ITR Srl pleaded guilty on Thursday to conspiring to rig bids for marine hose and was sentenced to two years in prison, the U.S. Justice Department said on Thursday.

Ecochlor Raises $10m for BWT Maket

Ecochlor, Inc. announced that it has completed a $10 million equity financing to support its growth into the burgeoning ballast water treatment market. Since its formation in 2001,

Ports

Petroecuador Tenders to Buy High Octane Naphtha

State-run Petroecuador has launched two tenders to buy a total of 22 cargoes, 240,000 barrels each, of high octane naphtha RON 87 and 93 for delivery starting on May 21-23,

DP World in Talks With Banks for $3b Loan

Dubai-owned port operator DP World is in talks with lenders to triple the size of an existing $1 billion loan, as well as extend the lifespan and reduce the interest rate,

Hong Kong Receive BMT Maritime Strategic Study

BMT Asia Pacific (BMT), a subsidiary of BMT Group Ltd, says it has completed a major strategic study - “Enhancing Hong Kong’s Position as an International Maritime Centre (IMC)”,

Finance

Diamond Offshore Shares on the Rise

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a better-than-expected quarterly profit as it cut drilling costs and hiked prices,

Ecochlor Raises $10m for BWT Maket

Ecochlor, Inc. announced that it has completed a $10 million equity financing to support its growth into the burgeoning ballast water treatment market. Since its formation in 2001,

Offshore O&G: Cuts, Delays in Norway as Costs Soar

More oil and gas projects in Norway could be put on hold because of rising costs, adding to a growing list of developments that have been delayed or called off,

Education/Training

Newport News, ODU Partner for Bachelor's Degree Program

Huntington Ingalls Industries (HII) announced today that apprentices at Newport News Shipbuilding will now have the opportunity to earn a bachelor of science degree

C-MAR's Modern Approach to DP Training in Brazil

The modern offshore maritime industry heavily relies on different classes of DP vessels, from OSVs to Drillships and Tankers, almost all vessels serving the oil

GEIMS Maritime Training accorded highest grade from DGS

Great Eastern Institute of Maritime Studies (GEIMS) is now the first approved maritime training Institution in India to achieve the 'outstanding (A1)' grade. The

News

Port Launches Emergency Landing Craft

Port of Long Beach officials welcomed a new addition to their small fleet of boats this week with the delivery of a refurbished and retrofitted landing craft that

Reps. Byrne and Palazzo Visit Ingalls Shipbuilding

Reps. Bradley Byrne, R-Ala., and Steven Palazzo, R-Miss., visited Huntington Ingalls Industries' (HII) Ingalls Shipbuilding division Wednesday. The congressmen,

19th Century Shipwreck Found off Golden Gate Bridge

NOAA announced it has found the underwater wreck of the passenger steamer City of Chester, which sank in 1888 in a collision in dense fog near where the Golden Gate Bridge stands today.

Marine Science

Huge Iceberg Broken off Antarctica Heads for Open Ocean

Scientists are monitoring an iceberg roughly six times the size of Manhattan - one of the largest now in existence - that broke off from an Antarctic glacier and is heading into the open ocean.

CNR: Innovation Maintains US Naval Advantages

An interview with Rear Adm. Matt Klunder, U.S. Navy Chief of Naval Research What are your near term, mid-term and long term science and technology (S&T) objectives?

Newport News Shipbuilding's Apprentice School to partner Old Dominion University

The Signing of a memorandum of understanding between the Apprentice School and Old Dominion University (ODU) will take place tomorrow (23rd April) at 3101 Washington Ave.

Ocean Observation

Huge Iceberg Broken off Antarctica Heads for Open Ocean

Scientists are monitoring an iceberg roughly six times the size of Manhattan - one of the largest now in existence - that broke off from an Antarctic glacier and is heading into the open ocean.

Time Charter of DP-1 Research Vessel Fixed

Marcon International, Inc. of Coupeville, Washington reported that Stabbert Maritime of Seattle has time chartered the U.S. flag, DP-1, research vessel Ocean Pioneer (ex: Seabulk Montana,

BP Spill Compensation Battles Rage On

BP pays billions in compensation but some claims still unpaid; Oil still appearing on beaches in Gulf of Mexico. Company says claims process is flawed, not all oil from spill.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2187 sec (5 req/sec)