Developments revitalize Downtown Long Beach.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 Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and Orange County. The urban energy in Downtown resonates throughout the community, as Art Deco art deco (ärt dĕkō`; är dākō`, ärt) or art moderne (är môdĕrn`, ärt) buildings which have been reborn re·born adj. Emotionally or spiritually revived or regenerated. reborn Adjective active again after a period of inactivity Adj. 1. as studio lofts, outdoor cafes, and retail boutiques line the streets with urban style and sophistication so·phis·ti·cate v. so·phis·ti·cat·ed, so·phis·ti·cat·ing, so·phis·ti·cates v.tr. 1. To cause to become less natural, especially to make less naive and more worldly. 2. . 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 toney 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 Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?" midmost of a reinvestment Reinvestment Using dividends, interest and capital gains earned in an investment or mutual fund to purchase additional shares or units, rather than receiving the distributions in cash. 1. In terms of stocks, it is the reinvestment of dividends to purchase additional shares. 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. 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 square-feet of retail space with an investment of nearly $750 million dollars. 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 realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. (DDR (Double Data Rate) Refers to an SDRAM memory chip that increases performance by doubling the effective data rate of the frontside bus. For more details, see SDRAM. DDR - Double Data Rate Random Access Memory ) 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
The Downtown Core is a 266-hectare urban planning area in the south of the city-state of Singapore. . 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 Adaptive reuse is the process of adapting old structures for new purposes. When the original use of a structure changes or is no longer required, as with older buildings from the industrial revolution, architects have the opportunity to change the primary function of the 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. 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. "The development of Downtown Long Beach is extremely exciting because it will energize en·er·gize v. en·er·gized, en·er·giz·ing, en·er·giz·es v.tr. 1. To give energy to; activate or invigorate: "His childhood 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 Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, coastline with easy access and an inviting atmosphere, it's easy to see why more developers are choosing to invest in Downtown Long Beach." Todd Cutts is Economic Development Manager for Downtown Long Beach Associates. For more information, contact him at 562-436-4259. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion