Long Beach WELCOME HOME

Earlier this week, the Real Deal LA reported that the City of Long Beach, along with the Port of Long Beach, has closed financing on a $520-million deal for an ambitious revamp of the city’s dated Civic Center. The proposed mixed-use center is being developed as a public-private partnership with the Plenary Group and Edgemoor Infrastructure & Real Estate, which are operating under a joint venture known as Plenary-Edgemore Civic Partners (PECP).

After sitting vacant for more than a quarter-century, a prominent site in Downtown Long Beach is poised for a large commercial development. Earlier this week, the Long Beach Business Journal reported that the Long Beach City Council has approved a proposal from developer American Life, LLC to construct a 25-story hotel tower at the corner of Ocean Boulevard and Pine Avenue. The project would include up to 427 guest rooms, 19,000 square feet of meeting rooms and event space, 8,000 square feet of restaurant space and various guest amenities such as a pool and spa deck.

Developers AndersonPacific, LLC; Ledcor Properties Inc.; and Qualico Developments Inc. have announced the completion of the Current, a $70-million residential tower at 707 E. Ocean Boulevard in Downtown Long Beach. The mixed-use development, which held its official grand opening on June 9, consists of a 17-story building featuring 223 luxury apartments and a 10,000-square-foot pedestrian plaza flanked by retail space. The building offers a mix of studio, one- and two-bedroom apartments, as well as penthouse suites.

Urban Commons, the real estate firm that now controls the land surrounding the Queen Mary, has announced $15 million in renovations for the historic ocean liner. According to a press release, the Los Angeles-based developer is partnering with architecture firm Gensler, to return the ship to its former glory while also infusing contemporary influences. Plans call for upgrades to the corridors and 346 state rooms of the hotel, including new carpeting, lighting and refurbished millwork.

Long Beach city officials announced today that the master lease of the iconic Queen Mary has been formally transferred to the real estate investment and development firm Urban Commons. During the course of a 66-year master lease, the Los Angeles-based company will restore the historic ship to its glory days and develop a retail, dining and entertainment district on surrounding properties. Urban Commons intends to complete the project in phases over the next several years, beginning immediately with upgrades to the Queen Mary.