(Read more on the multifamily market.)

LONG BEACH, CA-The Long Beach Redevelopment Agency expects to unveil the second phase of the $35-million CityPlace Lofts condominium project in September. The 72-unit development is situated on a site bounded by Fourth Street and Elm Avenue in Downtown Long Beach and is being developed by West Millennium Homes.

The latest phase of the project, designed by architect Paul Essick, is known as the North Building. The first phase was known as the South Building and was completed in March 2007.

Patrick West, community development director for Long Beach, says that the CityPlace project is expected to "have a tremendous impact on the neighborhood" and to move the city "toward our goal of bringing new life to areas of the City of Long Beach that need rehabilitation and redevelopment investment." The Long Beach Redevelopment Agency is part of the city's Department of Community Development.

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