LOS ANGELES — AltaSea at the Port of Los Angeles announced Nov. 12 that the Los Angeles Board of Harbor Commissioners approved an amendment to its lease, a step forward in ensuring the continued redevelopment of AltaSea’s 35-acre campus. The amendment unlocks infrastructure, as well as reimbursements from the Port of Los Angeles, in the continued transformation into the world’s destination for the blue economy. This is the seventh amendment to AltaSea’s lease, which was originally approved in 2017.
The amendment now goes to the Los Angeles city council for final approval.
The amendment paves the way for critical upgrades and new investments across the AltaSea campus, including the redevelopment of 46,500 square foot Warehouse 57, which will undergo seismic, electrical, and fire/life safety improvements, along with the installation of renewable energy systems.
Key elements of Amendment 7 include:
Redevelopment of Warehouse 57 (46,500 sq. ft.), including seismic, electrical, and fire/life safety upgrades, along with the installation of renewable energy systems.
Up to $12 million in port reimbursement for tenant improvements, environmental remediation, and redevelopment costs across berths 57-60.
Strong compliance measures, including prevailing wages, competitive bidding, and transparent reporting.
The Harbor Commission’s approval keeps AltaSea’s progress on track. The upgrades to Warehouse 57 will improve safety, modernize the building, and help bring the facility into full use. The city’s reimbursement plan will help fund construction while maintaining strong oversight through open bidding and progress reporting. Further, it strengthens AltaSea’s role as a working part of the Port of Los Angeles and a center for jobs, education, and innovation.