Posted Nov 23, 2012, 6:47 AM
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Registered User
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Join Date: Dec 2006
Location: BK,NY/SF,CA/LB,CA
Posts: 480
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Shoreline Gateway Back from the dead
The Gazettes is reporting that the Shoreline Gateway Project is still alive:
Quote:
UPDATED: Council Approves Downtown High Rise Development
Posted: Wednesday, November 21, 2012 9:00 am | Updated: 9:30 am, Wed Nov 21, 2012.
By Jonathan Van Dyke
Staff Writer
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On Nov. 5, 2007, the Redevelopment Agency entered into an Owner Participation Agreement (OPA) with Shoreline Gateway, LLC to develop a massive project located at the corner of Ocean Boulevard and Alamitos Avenue, diagonal from Villa Riviera.
The project called for two phases: A 35-story east tower with 221 market rate ownership residential units and 12,600 square feet of retail space, and a 21-story mixed use west tower. However, the turn in the real estate economy derailed the project — and then the RDA was disbanded.
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The new plan is to move forward in reverse. Phase One would now develop the west tower. This time, the west tower would be an 18-story mixed-use development comprising 221 rental units (that could eventually become ownership condominiums) with approximately 9,500 square feet of leasable retail space.
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Click here for the city management memo in support of the city council motion with what appears to be a rendering on page 9.
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