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Queensway Bay Gets New Lease on Life

LOS ANGELES-Developers Diversified gets 15-month extension on long-stalled project, a cornerstone of Long Beach's efforts to become a tourist destination. Only two months ago, City Council talked of dissolving its contract.

By David W. Myers | Updated on February 15, 2001

LOS ANGELES-In a move that caught some observers by surprise, the Long Beach City Council has given the developer of the long-stalled Queensway Bay in the city’s CBD a 15-month extension to begin construction.

Only two months ago, the council had threatened to terminate its contract with Developers Diversified Realty Corp. because the Ohio-based builder was about two years’ behind schedule. Under terms of the new extension, Developers Diversified cannot sue the city over the project and must pay $500,000 if construction doesn’t begin within 15 months.

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