(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.

West says that the addition and renovation of Downtown residential buildings and condominium apartments is a key part of the revitalization of Downtown Long Beach.”A revitalized downtown with a growing population requires an ample supply of innovative and practical housing suited to residents’ levels of needs,” he comments.

John Mavar, vice president of West Millennium Homes, observes that the development of the CityLofts project is part of a larger phenomenon in which increasing numbers of homeowners are choosing to leave the suburbs for urban living. The Long Beach project is one of a long list of such developments in cities throughout Southern California.

The CityPlace units range from 1,100 sf to 4,150 sf, with each featuring oversized windows, marble and granite countertops, private security systems, high-end appliances and European-style cabinets. Amenities include an exercise room, subterranean parking, a community room and a landscaped, lighted courtyard. The developer also cites the site’s location, which is close to the Long Beach Performing Arts Center and many other retail and dining options.

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