City Council Approves Three Development Proposals
2016-05-26 · By Editor
On Tuesday, May 24, the City Council unanimously approved three exciting development proposals in Long Beach, which involve past Redevelopment Agency parcels now owned by the City through the Long Beach Successor Agency Long Range Property Management Plan.
“These high-quality developments will create value for our City,” said Mayor Robert Garcia. “They will generate jobs, increase property tax revenues and enable future investment and development opportunities that help to bolster our economy.”
The first development involves a 45,280-square-foot site at the northwest corner of Broadway and The Promenade, which is temporarily used as a parking lot. This development would include apartments, work/co-work flexible space, electric vehicle charging stations and bicycle storage. Twenty parking spaces would continue to be provided for the benefit of the adjacent historic Insurance Exchange Lofts condominium project.
“These investments highlight the great interest in doing business here in Long Beach, and they also showcase our commitment to quality, sustainable development,” said Michael Conway, Director of Economic and Property Development.
The second proposal involves a 1,250-square-foot lot with a vacant two-story, 2,400-square-foot building in the 100 block of East 3rd Street. The developer has proposed a frontline business incubator and co-working space designed to attract emerging small and creative companies.
The third proposal involves a 75,376-square-foot vacant lot along the east side of Long Beach Boulevard between Home and Sunset Streets. The development plans include 42 for-sale townhomes, each with a two-car garage, plus an additional 35 guest parking spaces.