UPDATED, September 19, 2:30 p.m.: A 120-unit mixed-use development is in the works in Long Beach.
City officials will consider the proposal this week, according to Urbanize.
Pacific Property Partners is developing the project on behalf of a Delaware-based entity, Leeward Capital of Long Beach LLC. The firm wants to build an eight-story apartment at 1105 Long Beach Boulevard. Plus Development is on board to walk the project through the entitlement process. It would include 5,000 square feet of ground-floor retail space and three levels of parking.
The units are a mix of one-, two- and three-bedrooms. Rockefeller Kempel Architects is designing the project.
Plus Development is also active in commercial and single-family development, especially in upscale neighborhoods like Holmby Hills and Bel Air.
A city staff report to the Long Beach Planning Commission recommended the project be approved, according to Urbanize. The development team has been working through the Long Beach approval process for the last year. The process has seen them increase open space and refine its design, according to the staff report.
Small-scale multifamily investors have descended on Long Beach, seeking higher returns than they get closer to downtown Los Angeles. As an example, residential unit prices in Long Beach have doubled since 2014. Not surprisingly, developers have gotten in on the action, too. [Urbanize] — Dennis Lynch
Correction: a previous version of this story listed Plus Development as the developer of the project. The developer is Pacific Property Partners on behalf of Leeward Capital of Long Beach LLC. Plus Development is entitling the property.