[LAMetroGuy]

(August 2, 2004) -- A 22-story luxury condominium tower is being planned for the southeast corner of Ocean Blvd. at Pine Ave.

James Ratkovich & Associates, Inc., a Pasadena-based development firm, says it has completed purchase of the site and is now in the final design stages of the high rise which will be called "Edgewater on Ocean."


As described in a release by the firm, "the $150-million project will be a multi-use development consisting of a 155-unit high-rise residential tower and ground floor restaurant and retail space. Other contemplated ground floor tenants include a gourmet market, upscale cafe and a full-service spa and health club. The highly amenitized condominiums, with floor plans ranging in size from a 990-square-foot one-bedroom unit to a sprawling 3,600-square-foot penthouse, will be priced from the $400,000s to over $4 million.
"This is one of the finest development sites in all of Southern California," said firm president James Ratkovich in the relase. "There is no other site north of San Diego and south of San Francisco that can deliver the urban waterfront lifestyle to be found at Edgewater on Ocean. We're excited to be creating what we believe will be the most cosmopolitan address in this unique urban waterfront setting," he added.

The release continued:


A modernist's dream come true, the tower's collection of one-, two-, three- and four-bedroom units will feature standard ceiling heights in excess of ten feet, spacious balconies, as well as stunning floor-to-ceiling glass walls to create the feeling of total transparency. More than 80% of the units will reveal spectacular views of the Pacific Ocean, the Queen Mary and Long Beach Marina. North-facing units will enjoy views of city lights to the San Gabriel Mountains. A rare collection of only 24 penthouses will occupy the 18th to 22nd floors, offering an elite group of owners the once-in-a-lifetime opportunity to experience the distinctive cachet of penthouse living. These luxurious residences will feature 12-foot-high ceilings, unparalleled views and total living areas over 3,600 square feet. Plans also include an exclusive rooftop lounge where owners are free to mingle or relax against the vibrant backdrop of the Long Beach skyline.
The elegant interiors will be timeless moderne, yet with a fresh spin towards casualness and fun reflecting the Southern California way of life. Design appointments and customization options will be comparable to those found at many high-rise developments throughout the surrounding coastal region. Ideal for entertaining, gourmet kitchens will offer granite countertops and top-of-the-line appliances. Extensive pre-wiring for phone, Internet and fax communications will be a major benefit for owners working from home. To make home ownership more enjoyable and carefree, owners have exclusive access to a Residential Concierge to experience the comforts of personal attention and first-class service.

The fourth level of Edgewater on Ocean -- reserved exclusively for residents and their invited guests -- will be an expansive indoor/outdoor area of refined amenities, including a recreation room, library, movie theater, private wine cellar, as well as a fitness facility with menís and womenís locker rooms and saunas. Just outside, one discovers the most alluring perk of ownership: the pool terrace. Here, residents may soak in the hydrotherapy pool, or relax on the sundeck surrounded by an eclectic mix of exotic tropical landscaping. One may also take a refreshing dip in the infinity-edge lap pool, which creates the wonderful illusion of gently floating over the distant waters of the blue Pacific.

Edgewater on Ocean is scheduled for a 2005 groundbreaking with completion sometime in 2006.

James Ratkovich & Associates was the developer of Long Beach's The Pacific.