Aecom, the Century City-based engineering, construction and design firm, presented its framework for redeveloping a four-mile stretch of the Los Angeles riverfront downtown at a presentation to the media at the firm’s downtown office on Wednesday.
The presentation came at the end of a year-long process that involved discussions with the city of Los Angeles and Metro, which owns the riverfront properties, according to Aecom executives. They said redevelopment efforts in the area would take place over decades and would involve public and private partnerships.
While the company does not have clients involved in riverfront development, officials said it aimed to be a “thought leader” when development takes place in the future. Aecom hopes to compete for related projects when they arise, said Nancy Michali, an associate vice president for Aecom.
“Over the last year, as we explored this area and have become intimately familiar with it, what we found is that this area has unparalleled open space opportunities from the river and other park activities in the area,” Michali said.
Citing the roughly 8 million square feet of entitled development area surrounding the river and developable parcels, she said, “Put those together and you have incredible opportunities to locate much needed housing and jobs in an area where it’s welcomed and has minimal impacts on existing communities.”
Michali said the framework provided by Aecom seeks to integrate approved projects and specific plans within the research area, such as the Cornfield Arroyo Seco Specific Plan, which envisions a hybrid industrial community, and the Alameda District Specific Plan, which envisions a new high-rise community centered around Union Station. Renderings showed the potential integration of projects and a number of green space elements along the riverfront.
Real estate reporter Neil Nisperos can be reached at nnisperos@labusinessjournal.com. Follow him on Twitter @ReporterNeil for the latest in L.A. real estate news.
