Lofts bring closure to CityPlace failed indoor mall
By Don Jergler, Staff columnist
Article Launched: 08/27/2007 12:00:00 AM PDT
Video: Realty Bites v-blog: A visit to the CityPlace lofts
The Redevelopment Agency continues to erase the remnants of the ill-fated Long Beach Plaza, bringing some closure to a bad memory left by the failed indoor mall and adding another piece of the puzzle to downtown's development jigsaw.
The first phase of CityPlace Lofts at Fourth Street and Elm Avenue is complete and more new downtown residents are already moved in.
The lofts, next to the Albertson's shopping center between Long Beach Boulevard and Elm, offer prices starting from $399,990 up to about $700,000 and sizes from 1,092 square feet to 2,085 square feet.
The $35 million CityPlace Lofts are a 72-unit condominium/loft project. The south building, Phase I, was completed in December 2006 and Phase II, the north building, is scheduled for completion in September 2007.
The Long Beach Plaza was
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demolished in 2000. The downtown Long Beach structure, built in the late 1970s, had become a prime example of failed enclosed retail.
Thanks to redevelopment, that failed mall was replaced with the roughly 475,000-square-foot CityPlace shopping center, a large apartment complex that weaves throughout the center and also fronts Pine Avenue.
"That mall really wasn't functioning," said Craig Beck, Redevelopment Bureau manager.
The Redevelopment Agency, which owned the land, spent $17 million to assist the project, including land write-downs and public improvements.
CityPlace includes more than 300 residential units on eight city blocks in the heart of downtown. Retail anchors include Nordstrom Rack, Ross Dress for Less, and Wal-Mart. The project includes 2,400 spaces of structured parking.
Many of the lofts have hardwood flooring. Lofts also include stainless steel appliances and granite kitchen countertops.
Phase I is 51 lofts, of which 17 have been sold, according Debbie Tucker, superintendent of the project.
Phase II is 21 lofts, and all lofts in that phase are up for sale.
The lofts, which the developer describes as contemporary, are spacious.
"They're all very nice and airy and they have nice finishes," Tucker said. "People like the openness. They can walk in and see everything as they walk through the door."
The developer dropped the asking prices on the lofts by about 10 percent off the original price.
"They took into consideration the market, and the fact that Long Beach is very competitive," Tucker said.
Call (310) 848-5153 for the sales office.
Don Jergler can be reached at
don.jergler@presstelegram.com or (562) 499-1281.