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Development continues to revitalize Downtown Long Beach
Los Angeles Business Journal, Jan 20, 2003

From high-rise to historic, trendy to traditional, Downtown Long Beach is home to 4.2 million square feet of office space, and its central location allows employers to recruit from a geographic region that includes Los Angeles and Orange County. The urban energy in Downtown resonates throughout the community, as Art Deco buildings, which have reborn as studio lofts, outdoor cafes, and retail boutiques, line the streets with urban style and sophistication. Make one visit to our thriving business district, and it is clear that Downtown Long Beach has continued to evolve into an energetic urban center.

It was not long ago that that Downtown Long Beach was an area stigmatized by the word "potential." Fortunately, with an eye on the heralded past of the Pike and a tony Pine Avenue, Downtown is now crafting development opportunities which will help transform the entire area into achieving this "potential."

Consider the following: Downtown is in the midst of a reinvestment of nearly one billion dollars in new development and re-development. This reinvestment constitutes over 3,000 new market-rate residential units and almost one million square-feet of new retail.

"All of this new development creates a vibrant atmosphere that enables businesses and employees to enjoy their work environment and impress the clients," said Todd Cutts, Economic Development Manager for the Downtown Long Beach Associates (DLBA), the non-profit organization operating on behalf of the property owners and tenants of the Downtown Business Improvement District.

Projects Under Construction

Skeptics might pose the question of whether the balance of this construction is merely planned, or actually underway. Yet, the reality is that there are 11 projects currently under construction which will provide a combined total of 1,757 residential units and 847,400 squarefeet of retail space with an investment of nearly $750 million dollars.

New Developments

The balance of the developments is comprised of new construction which accounts for nearly 2,900 residential units and 940,000 square feet of retail development.

Developers Diversified Realty (DDR) is building two projects in the Downtown, serving as bookends to the Pine Avenue retail/entertainment district. The project on the north end of Pine Avenue, CityPlace, consists of 450,000 square-feet of retail and approximately 350 residential units. Two of the project's retail anchors, Nordstrom's Rack and Ross Dress for Less, opened in August 2002. The majority of the CityPlace project is expected to open in the Fall of 2002, with opening continuing into early 2003. The project on the south end of Pine Avenue, The Pike at Rainbow Harbor, a 350,000 square-foot retail/entertainment project on the Downtown's waterfront, is currently under construction. The Pike at Rainbow Harbor project includes a 15-screen Crown Theatre, Carnival Club, and Sega Gameworks. Estimated completion is Fall 2003.

Other new developments include The Park at Harbor View and the Ocean Villas, both on the south side of Ocean Boulevard. Camden Properties' The Park at Harbor View, currently under construction, will include approximately 550 apartment units and 26,000 square feet of retail in Phase I. Genesis Realty's Ocean Villas, also currently under construction, will add another 550 residential units to the Downtown core.

Adaptive Reuse

Not all projects in the urban center are on such an expansive scale. Many are rehabilitating beautiful, historic buildings built in another era. Adaptive reuse projects in the Downtown account for 164 residential units and 29,000 square feet of retail space. The recently completed Walker Building, formerly a department store at 401 Pine Avenue, houses 46 residential units and 18,000 square-feet of retail. The Insurance Exchange Building, on The Promenade, is under construction and will contain 11 loft units and 11,000 square-feet of retail space. The Temple Lofts project, 835 Locust Avenue, consists of the rehabilitation of the former Masonic Temple building built in 1927 and will yield approximately 85 residential units, averaging approximately 1,700 square feet.

Planned Projects

While the Downtown landscape is evolving by the day with projects currently under construction, Downtown also has sizeable projects in the planning stages. These projects include approximately 1,300 residential units and a possible 100,000 square-feet of new retail. On The Promenade, from First Street to Third Street, the Redevelopment Agency (RDA) is currently negotiating with three developers to build over 300 residential units over 55,000 square feet of ground-floor retail. The RDA is also currently selecting developers for the West Gateway project, a seven-block area mixing approximately 800 residential units with ground-floor retail.

"The development of Downtown Long Beach is extremely exciting because it will energize the community through the growth and diversification of retailers while also providing aesthetic improvements, enhanced infrastructure, and upscale housing," said Barbara Kaiser, Manager of the City of Long Beach's Redevelopment Agency. "At the center of the Southern California coastline with easy access and an inviting atmosphere, it's easy to see why more developers are choosing to invest in Downtown Long Beach."

This article was provided by the Downtown Long Beach Associates.

For more information about Downtown Long Beach, call Todd Cutts, Economic Development Manager, at 562.436.4259.