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Sunday, January 19, 2014

Thinking Big in Long Beach

NAIOP, the Commercial Real Estate Development Association sponsored its 16th USC vs. UCLA Real Estate Challenge. Top graduate student teams from the Ziman Center for Real Estate at UCLA's Anderson School of Business and the Lusk Center at USC's Marshall School of Business and Price School of Public Policy met to match creativity and real estate knowledge on a unique real estate site.

The 2013 subject site is the 11 acre location at the corner of PCH and 2nd that has the potential to be one of the greatest development opportunities in the City of Long Beach. It is located at one of the busiest and more visible intersections in Long Beach. The site is the current SeaPort Marina Hotel.

The winning group produced "Belmont Yards" -- an 11 acre multi-use development poised to become the next iconic waterfront neighborhood, exemplifying the health, sustainable, coastal life style sought out by visitors, residents and government alike. The plan recognizes the constraints and the sensitivities of SEADIP and addresses this on a dual track approval process.

Click here to see complete plan.

I placed an item on the council agenda calling for a public presentation of this creative use of 2nd and PCH and the Council approved scheduling a presentation for the public to see what could be there.

This is exciting and a great example of what creative thinking could do to move our city forward. I will let you know when it is scheduled for presentation.

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