AltaSea at the Port of Los Angeles has secured a $1 million gift from The Rosalinde and Arthur Gilbert Foundation, a Santa Monica-based institution known for its support of education, economic development and innovation in Los Angeles.
AltaSea is a public-private partnership that brings together science, business and education to generate innovative solutions to global sustainability issues. AltaSea will redevelop 35 acres at the Port of Los Angeles into an ocean-based campus that will work to demonstrate how the ocean directly contributes to the well-being of humankind and the health of the earth. Planning and permitting for Phase 1 Development has begun, with construction to begin in 2017 and to be completed by 2019.
The campus will be comprised of three industry-focused hubs: a world-class science hub dedicated to expanding knowledge about the ocean, which will become the permanent home of the Southern California Marine Institute; a business hub that will accelerate creation of new and existing businesses that commercialize scientific breakthroughs and emerging technologies to create ocean-related products and services; and a groundbreaking education hub which includes an outreach center for policymakers, stakeholders, transformational thinkers, the public and students K-12.
"AltaSea represents that very special combination of important elements found in a well thought out public-private partnership: Academia, research and entrepreneurial direction coupled with political involvement and support," said Richard Ziman, CEO and Trustee of The Rosalinde and Arthur Gilbert Foundation. "AltaSea also represents the mission of The Foundation, investing in the future of our community in areas that truly make a difference. This important project we believe is totally in the interest of Southern California, its economy, the people of the region and will provide benefits far beyond its local reach."
The Rosalinde and Arthur Gilbert Foundation supports college access and retention in Greater Los Angeles; education, economic development, and scientific research in Israel; diabetes prevention and Alzheimer's Disease research and caregiver support; cultural organizations, arts education programs and public parks in Greater Los Angeles; Jewish organizations in Greater Los Angeles; and programs at UC Berkeley and UCLA that intersect with the Foundation's mission and objectives.
"We view our gift as an investment in Los Angeles' innovation infrastructure," said Martin Blank, COO and Trustee of the Foundation. "Our Foundation is not just a philanthropic institution, it is an investor. AltaSea is a good investment in the economic and cultural future of Los Angeles and its people. What makes AltaSea unique are its three hubs: science, business and education. The gift will benefit the marine, maritime and environmental programs at UCLA, USC, Occidental College and the Cal State universities. AltaSea will also incubate new businesses and help grow Los Angeles' economy."
The Rosalinde and Arthur Gilbert Foundation gift joins other major funds secured for the redevelopment of the 100-year-old City Dock No.1 into a one-of-a-kind ocean-based innovations campus. Other notable contributions to AltaSea include $57 million committed by the Port of Los Angeles, $25 million donated by The Annenberg Foundation and $500,000 from The Crail-Johnson Foundation of San Pedro. Significant additional philanthropic gifts are anticipated in the first quarter of 2015.
"We are deeply honored by The Rosalinde and Arthur Gilbert Foundation's belief in AltaSea's value to Los Angeles' future, and look forward to the opportunity to live up to their confidence in our vision," AltaSea Chief Executive Officer Rachel Etherington said. "Their support illustrates the many ways in which AltaSea's sustainability mission creates opportunities for growth and progress, both locally and globally. With the Foundation's help, we are moving ever closer to our $217 million fundraising goal for construction of Phase 1 of this project, which is our most urgent priority."
For more information, visit www.thegilbertfoundation.org or www.altasea.org.
