The apartment project, totaling approximately 200,000 sf, is comprised of five separate buildings constructed over ground floor retail space. The retail portion will be owned by Developers Diversified Realty Corp., the master developer of CityPlace.
The CityPlace Apartments project not only represents PCS Development's entrance into the Long Beach market, but also its first involvement with a mixed-use project. Construction is scheduled to begin in June following the completion of the ground floor retail component.
Each of the buildings will be three stories in height and will be attached to above-grade parking structures, owned and operated by the City of Long Beach. The apartments themselves will feature amenities including granite countertops, tile floors, crown molding and top-quality appliances.
The CityPlace site covers eight city blocks formerly occupied by the Long Beach Plaza, an enclosed mall opened in 1982 and closed in 1999. The project is walking distance from the waterfront and a host of attractions and amenities including the Convention Center, Shoreline Village, Downtown Marina Complex, Queen Mary/Carnival Cruise Complex, Aquarium of the Pacific and the to-be built Queensway Bay retail entertainment project, another DDR development. Additionally, it is located within walking distance to 4.9 million sf of office space in downtown Long Beach.
PCS Development, Inc. is a comprehensive real estate company primarily focused on the acquisition, construction and management of multi-family, luxury residential properties. It owns and manages over 50 apartment buildings, 25 in the Sherman Oaks area. The company employs over 80 people, holds more than $250 million in assets, and generates annual revenues of over $25 million.
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