The 51-acre site for AES has fantastic views of the Pacific Ocean and is located within walking distance of Redondo Beach’s King Harbor & Pier. It’s been a power plant since 1906. Now is the first opportunity in over 100 years for this small beach community to think about the possibilities of the future of the Redondo waterfront.
This commercial real estate property is listed by NGKF. The property is being offered through a “100 percent fee simple basis with a proposed seller lease-back through 2021,” according to the brochure. Entitlement contingencies and a seller participation structure will be considered.
The property is currently zoned as a public utility or park. Due to Measure DD, any change to the zoning would have to go through the voters. There has been one previous measure to rezone the power plant side in 2015. Measure B would have allowed for a mixed-use designation for the site. It had the potential for 600 residential units, 85,000 square feet of commercial space, a 250-room hotel and 10 acres of open space. The measure failed narrowly, with 51.9 percent of the vote against.
In November, the power company agreed to suspend its application to build a new, smaller power plant until August as it searches for a firm to develop the power plant for nonindustrial use. The current plant must be retired or rebuilt by 2020.
Born and raised in the South Bay. Love where we live and finding new spots that make the South Bay such a beautiful, funny and entertaining place to live.
