Downtown Long Beach gets an economic jolt.Downtown Long Beach, home to five distinct and unique districts, is once again proving to be the epicenter for California's fifth largest city. Downtown Long Beach offers a convergence of various experiences which make this authentic urban setting with its waterfront orientation a unique location for businesses, residents and visitors. 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. An influx of new residents is enjoying a diverse housing stock, from rehabilitated loft units to newly constructed condominiums and apartment buildings. Visitors can fill a day, or a long-weekend, with a plethora of activities, attractions and events. Downtown Long Beach continues to grow and evolve, making Downtown Long Beach a true gem on the coast of 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, . 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 over one billion dollars in new development and re-development. This reinvestment constitutes over 3,500 new market-rate residential units and almost one million square-feet of new retail. Projects Under Construction/Recently Completed 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 18 projects currently under construction or recently completed which provide a combined total of approximately 1,700 residential units and 865,000 square-feet of retail space with an investment of over $770 million dollars. New Developments The balance of the developments is comprised of new construction which accounts for over 3,300 residential units and 918,000 square-feet of retail development. Developers Diversified Realty (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 ) has recently completed 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. CityPlace is anchored by Nordstrom's Rack, Ross Dress for Less and Walmart. Other tenants include Anna's Linens, Ashley Stewart, Footaction, Fashion Island and Claire's Boutique. 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 home to the 14-screen CineMark Theater, Bubba bub·ba n. Slang 1. Chiefly Southern U.S. Brother. 2. A white working-class man of the southern United States, stereotypically regarded as uneducated and gregarious with his peers. Gump Shrimp Co., Sega Gameworks, PF Changs, Outback Steakhouse Outback Steakhouse is a casual dining American restaurant chain based in Tampa, Florida with over 900 locations in 23 countries throughout North and South America, Europe, Asia, and Australia. , California Pizza Kitchen California Pizza Kitchen (NASDAQ: CPKI, known within the food industry as CPK) is a casual dining restaurant chain that specializes in California-style pizza. The restaurant was started in 1985 by attorneys Rick Rosenfield and Larry Flax in Beverly Hills, California, and Island's Burgers. Other new developments include The Park at Harbor View and Aqua, both on the south side of Ocean Boulevard. Camden Properties' The Park at Harbor View, leasing successfully, includes approximately 550 apartment units and 26,000 square feet of retail. Genesis Realty's Aqua, also currently under construction, will add 550 condominium units to the Downtown core
The Downtown Core is a 266-hectare urban planning area in the south of the city-state of Singapore. . 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 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 227 residential units and 29,000 square feet of retail space. 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 locust, in botany locust, in botany, any species of the genus Robinia, deciduous trees or shrubs of the family Leguminosae (pulse family) native to the United States and Mexico. 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. The recently completed Walker Building, formerly a department store at 401 Pine Avenue, houses 46 residential units and 18,000 square-feet of retail. 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 nearly 2,000 residential units and over 80,000 square-feet of new retail. On The Promenade, from First Street to Third Street, the Redevelopment Agency (RDA RDA abbr. recommended daily allowance Recommended Dietary Allowance (RDA) The Recommended Dietary Allowances (RDAs) are quantities of nutrients in the diet that are required to maintain good health in people. ) 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 negotiating with 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 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. 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. Information for this article was provided by the Downtown Long Beach Associates' Economic Development Department. For more information, contact 562-4364259. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion