Redondo Beach’s aging waterfront increasingly struggled to compete with neighboring South Bay cities to the north. City explored ways to revitalize the pier, boardwalk and surrounding properties. For many years, Pier Plaza had an ineffective and confusing parking layout. The City wanted to take control of the Plaza as part of its comprehensive vision for the waterfront area.
Kosmont Realty Corporation assisted the City in the acquisition of the Redondo Beach Marina property and secured lease-leaseback financing with Compass Bank as part of an economic development strategy to pave the way for the release of the Redondo Beach Waterfront Development RFQ.
Redondo Beach’s aging waterfront increasingly struggles to compete with neighboring South Bay cities to the north. City explored ways to revitalize the pier, boardwalk and surrounding properties.