The Long Beach City Council unanimously approved the sale and future development of a parcel of land that was once associated with the Redevelopment Agency last night to Frontier Real Estate Investments, LLC.
The land, located in the Ninth District, sold for $2.1 million and includes a 93,230-square-foot site at the northeast corner of Artesia Boulevard and Atlantic Avenue—currently a vacant site, according to a release from Vice Mayor and Ninth District Councilmember Rex Richardson’s office.
Various council members congratulated Richardson and his team for the sale and proposed development, which includes 4,800 square feet of retail space, including a community gathering space and other amenities and services for the community.
“After more than a decade, we’re thrilled to turn the page and enter into this new agreement to bring another exciting restaurant-based development to the Atlantic Corridor in North Long Beach,” said Richardson in a statement. “We look forward to engaging the community and the developer to bring new retail and set a new urban design standard for the area.”
“We are honored that the City has selected us to develop this site,” said Tom Carpenter, Senior Director of Acquisitions for Frontier Real Estate Investments. “Our plan is to create a destination that the community will be proud of and to bring new retail amenities to the area.”