The Redondo Beach City Council narrowed down the list of potential developers for the waterfront from seven to five during Tuesday's meeting.
The city is looking for a developer to revitalize the waterfront, including the Redondo Beach Pier and the International Boardwalk, and turn it into a destination. The entire revitalization is expected to attract up to $100 million in private investment, according to a news release from the city.
According to city staff, those five developers—Forest City Development, CenterCal Properties, Lowe Enterprises, Pacifica Companies and Cal Coast—all have expertise in retail, hospitality and/or place-making; basic access to financing; and experience with complex, mixed-use projects of a similar scope.
Now, those five developers must respond to a "request for vision and approach," as well as a letter of intent, to city staff by Sept. 5. As part of the request, developers must submit a "high-level vision" of what they plan to do with the 15 acres of city-controlled land on the waterfront.
"The request for qualifications … was essentially a call for resumes," said Harbor Director Pete Carmichael. "This next round … (is) basically the next level of detail."
The council will hear presentations from each of the five developers in mid-September.
According to the city, the waterfront attracts more than 2 million visitors each year.