Sares Regis Breaks Ground on Downtown Long Beach Communities
The three communities totaling 348 units were designed by Studio One Eleven and are adjacent to retail amenities. The properties are slated for completion in 2019.
By Ariela Moraru
Sares Regis Group broke ground on three downtown Long Beach communities totaling 348 units. The Alamitos and The Linden are located on the eastern edge of downtown in East Village, while The Pacific is on the west side of downtown. Designed by Long Beach-based architects Studio One Eleven, the three communities are all adjacent to retail amenities including restaurants, bars and shopping, and within walking distance from the Metro Blue Line, which links to downtown Los Angeles.
“Long Beach is undergoing a revitalization of its urban core stimulating new housing demand and we believe this is just the beginning of great times ahead for Long Beach,” said Chris Payne, SRG managing director, in prepared remarks.
Property amenities include courtyards with dining and gaming, fitness centers, rooftop decks, game rooms, bike rooms and pet amenities. All buildings will apply for LEED certification.
- The Alamitos: located at 1st Street and Alamitos Avenue, the 136-unit property will also feature 2,500 square feet of ground floor restaurant space. The asset will offer studio, one- and two-bedroom floorplans, ranging from 660 to 1,620 square feet. Construction of the six-floor building began in May 2017 and is slated for completion in early 2019.
- The Linden: located at 4th Street and Linden Avenue, the 49-unit property will also feature 2,500 square feet of ground floor retail. The asset will offer one- and two-bedroom apartments, ranging from 700 to 1,570 square feet. Construction of the five-floor building will begin this month and will be completed in early 2019.
- The Pacific: situated at 3rd Street and Pacific Avenue, the 163-unit property is part of the Civic Center master plan redevelopment. The asset will offer ground floor townhomes on all street frontages, as well as studio, one- and two-bedroom apartment homes. Ten percent of the units (17) will be reserved for moderate-income residents. Construction of the seven-floor building will begin in July 2017 and is anticipated for summer of 2019.
SRG has developed and acquired more than $7 billion in commercial and residential assets since its founding in 1993 and currently manages a combined portfolio of approximately 22 million square feet of office and industrial space and 18,300 apartment units.
Image courtesy of Sares Regis Group