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The proposal is to move the battleship to an area closer to the planned San Pedro Public Market. The move would also create a veteran's plaza and Navy museum.
Community groups are currently receiving presentations on the $16.5 million plan. To accommodate the World War II battleship, dredging would be required at the new location.
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The fishing fleet near the proposed location would remain and co-exist with the battleship Iowa. Construction of the San Pedro Public Market will begin in early 2020.
The San Pedro Public Market is expected to open in early 2021 at a cost of $150 million.