Matthew Marchese, Director of Debt and Treasury Management
Port of Los Angeles Investor Relations
Port of Los Angeles Investor Relations
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April 24, 2025 – Alongside record-setting cargo volume, the Port of Los Angeles has invested more than $400 million in LA Waterfront projects, initiatives and education programs over the past decade through its Public Access Investment Plan (PAIP). Celebrating its 10-year milestone, the Port continues to invest 10% of its operating income back into the harbor communities of Wilmington and San Pedro.
“I’m so excited about the work that we’re doing with the Public Access Investment Plan, and the fact it is a community grassroots effort,” said Port of Los Angeles Executive Director Gene Seroka. “As this Port thrives, we are able to invest more into the community. And when we have this great community pulling in the same direction…the sky is the limit.”
“The Public Access Investment Plan took projects that the Port had on our capital project list and made them a reality,” said Port Director of Waterfront and Commercial Real Estate Mike Galvin. “We have been able to build out streets and promenades that bring more visitors and accessibility directly to the water’s edge.”
When established in 2015, the PAIP created a direct link between the Port’s cargo success and community investment; provided more predictability and transparency for planning long-term public access projects; and ensured the long-term maintenance, programming and activation of the LA Waterfront. The PAIP also instituted a planning process that incorporated extensive community input on projects to be built.
LA Waterfront projects recently completed under the plan include the Wilmington Waterfront Promenade, San Pedro Town Square and Promenade, in addition to several road improvements and realignments to facilitate access to West Harbor, which is expected to open to the public in 2026.
Over the next decade, the Port plans to allocate another $400 million to fund additional public access projects, maintain existing projects and provide public benefit programs. Later this year, the Port plans to announce a host of new public access projects, identified with support from City Councilmember Tim McOsker and other community stakeholders, slated for development within the next five years.
