The new shopping district, within walking distance of the Long Beach waterfront, is bounded by Third Street, Sixth Street, Pine Avenue and Elm Street. Its opening is expected to be followed this week with the topping off of the first of the five apartment buildings that Los Angeles-based PCS Development is constructing in a 221-unit project called The Premiere at CityPlace.
The new shopping development restores an original city street grid by reopening Fourth and Fifth streets, which were closed to make way for the former Long Beach Plaza. It was built with approximately $17 million from the Long Beach Community Development Department, most of it public improvements such as restoring the street grid and renovations to city-owned parking structures. City officials say they expect the new project to generate approximately $1.9 million per year in new sales tax, property tax and other revenues for Long Beach.
Among the major tenants that have already opened are Wal-Mart, Nordstrom Rack, Ross Dress For Less, Sav-on, Anna's Linens and Ashley Stewart. Albertson's is expected to open the first modern full-service supermarket in downtown Long Beach at CityPlace in December.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
