By Douglas Morino
An El Segundo-based developer has been tapped to oversee a dramatic remake of the Redondo Beach pier and waterfront, signaling another step toward the start of the long-planned project.
With a focus on bringing in a variety of new retailers and entertainment options to the city’s aging waterfront area, CenterCal Properties is expected to pour as much as $200 million into the Redondo Beach project through the next decade. The result could mean millions in new revenue for the city through taxes and rents, and the re-emergence of the tired landmark as a socially and economically vibrant regional destination.
“I think it’s a remarkable piece of property,” said Fred Bruning, chief executive officer of CenterCal Properties. “It’s rare you find 15 acres on the coast with so much potential.”
Potential designs and elements of the project will be honed through a series of public meetings and workshops, Bruning said.
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