SAN PEDRO (CBSLA.com) — City leaders and developers Wednesday rolled out proposed plans for a new multimillion-dollar project that’s expected to transform Ports O’ Call Village into a major destination.

Right now, most nights along the waterfront, where 20 percent of the property sits idle, are quiet.

“Most of the stores are closed,” said Roxanna Tumasella, a visitor. “Everything’s stopped.”

But a $100 million proposed makeover is expected to change that.

That’s because city leaders unveiled plans to transform the 30-acre village into a hip destination with restaurants, shops, an amphitheater and marketplace.

The renamed San Pedro Public Market will feature a waterfront promenade stretching more than half a mile.

“It’ll be the newest chapter in an ongoing story that we love to write: big things happening, at the biggest port in the country,” said Los Angeles Mayor Eric Garcetti.

The goal is to transform the aging site into a world-class destination similar to the waterfronts in Seattle and San Francisco.

There will be a Discovery Sea Park event space and attractions that may include a Ferris wheel, carousel and other rides.

And sure to please local historians, San Pedro’s historic red car will make a return.

“We want to just be as popular as possible,” said Mario Daniel, a manager at the San Pedro Fish Market.

Daniel says the long-awaited redevelopment will be an economic game changer, a chance for San Pedro to become the defining jewel of Los Angeles’ waterfront.

“We want people to come and be comfortable and to experience a new, something different,” he said.

The plan will still need to be approved by the Harbor Commission and the Los Angeles City Council. If approved, the San Pedro Public Market could open as early as 2020.

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