CITYPLACE LOFTS

CITY OF LONG BEACH, CA
Long Beach Redevelopment Agency

LOCATION
International School Site, Parcels 1 & 3
CityPlace Masterplan
Long Beach, California

PROJECT SIZE
72 units on 1.40 acres (63,000 s.f.), averaging 51 units per acre

PROJECT CONCEPT
4th Street Loft Partners, a subsidiary of Urban Pacific Builders LLC, has obtained City approval and construction financing for a market-rate loft condominium project within the CityPlace Masterplan Redevelopment Project. As part of this mixed-use project, CityPlace Lofts will provide a combination of Flats, Loft/Townhomes, and Penthouse units with internal mezzanines as the for-sale housing component, starting at $259,990 and ranging up to $599,000.

Current Status:	Under construction
Target Completion Date:
Architect:	Paul Essick Architects, Marina Del Rey, California
Financial Status:	All project financing is in place, with the developer equity and $16,000,000 revolving construction loan funded.
Source of Project Financing:	Construction Debt through KeyBank Residential Construction Lending. Mezzanine Equity through Weyerhaeuser Realty Advisors.
Project Cost:	$15,000,000