LONG BEACH, CALIF. — JPI has broken ground on Portico, a 272-unit project with 18,841 square feet of ground-level retail. The $150 million development marks Phase I of a master plan for Mosaic, which is the redevelopment of the former City Place Long Beach shopping center. Completion of the eight-story building is slated for June 2028. City Place Long Beach was developed in the 1990s on about 14 acres in downtown Long Beach. The site was cleared earlier this year. Units will be offered as studios through three-bedroom floor plans with amenities that include a speakeasy, a rooftop deck, a golf simulator, fitness center, a sauna and a pool deck overlooking the Mosaic shopping center. Finance partners include Tokyo Tatemono and BMO Bank. The broader Mosaic project, led by Turnbridge Equities, Waterford Property Co. and Monument Square Investment Group, will ultimately deliver 900 multifamily residences and 38,000 square feet of commercial space.
Dallas-based JPI has started construction of Portico, a mixed-use building with 272 apartments and commercial space. The project marks the first phase of a larger, 14-acre redevelopment of the former City Place Long Beach shopping center in downtown Long Beach, Calif. (Image courtesy of AC Martin)
JPI Breaks Ground on $150 Million First Phase of Mall Redevelopment in Long Beach
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