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Old Posted Apr 4, 2004, 10:42 PM
LA21st LA21st is offline
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Join Date: Jul 2002
Posts: 3,201
1400 East Ocean

This project is to be built on 47,480 square foot unimproved parcel between the Ocean Club and 1500 East Ocean. The building plans call for 173 units, in a 16 story high-rise configuration. It is estimated that the average unit size will be about 1,500 square feet. The developer characterizes the product as "high end" and will price accordingly when the project is constructed. The marketing strategy is described by the developer as a pioneering approach. The sale effort will be focused in Taipei, Taiwan, and Tokyo, Japan. If the overseas market does not prove to be as good as expected, the domestic market will be exploited as a fall back position. The experience of the Ocean Club project is reported to demonstrate that the product will be acceptable to the Southern California market, but the overseas market is clearly primary. There is currently no time frame for this project.

Ocean Promenade Tower

The plans call for a 250-unit condominium project with 18,000 square feet of ground floor retail on the former site of the historic Jergins Trust Building at the southeast corner of Ocean Boulevard and Pine Avenue. The developer acquired the 21,100 square foot site in June 1990 for $7,200,000. This proposed 34-story high-rise, designed by the Landau Partnership, would be the tallest in the city. The proposal calls for a unit mix of 62% two bedrooms, 28% one bedrooms (7 with den), and 10% three bedrooms. There is currently no time frame for this project.

Mendik Development

This is a large scale Downtown Redevelopment project which has been in pre-development for over 10 years. The redevelopment Agency assisted in the assembly of the site which is about 2.2 Acres. It is located above the Convention and Entertainment Center on the south side of Ocean Boulevard at Linden Avenue. Proposed and entitled are two towers containing 556 units, to be built in two phases. There are no plans to proceed with the site development in the foreseeable future.
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