Long Beach sells downtown parcel to developer plaing apartments

Long Beach’s City Council has signed off on the $6 million sale of land of downtown lot to a developer plaing twin apartment buildings.

The land in question is a 52,500-square-foot lot, currently used as a parking lot, near the northeast coer of the Third Street and Pacific Avenue intersection. The buyer, Ensemble Investments, LLC, is an Arizona firm with offices in Long Beach.

Ensemble Investments has proposed building an 18-story, 229-unit apartment tower along with a seven-story, 96-unit apartment building. Ensemble’s pitch also includes 25,000 square feet of retail space.

The council voted 9-0 to approve the deal. Council members voted after hearing testimony from another developer who proposed an alteative project for the site and contended Ensemble Investments’ plan does not include enough parking spaces.

The sale was the latest in a series of deals in which Long Beach officials are spiing off properties that had belonged to the now-defunct Long Beach Redevelopment Agency.

Advertisement