City sells vacant lot to make way for more senior affordable housing
Release Date: 2019-08-14By Brian Addison for Longbeachize
Making way for more affordable housing for seniors, the Long Beach City Council has formally approved the sale of a 15,795-square-foot lot in Central Long Beach to affordable housing developer Mercy Housing California of Los Angeles.
Originally sold to Wood Investments in 2016 as part of the city’s state-required selling of its redevelopment properties, the sale didn’t close escrow, re-opening the lot’s availability for a new developer. Approved for $750,000, the sale will give Mercy two combined lots—925 and 945 E. Pacific Coast Highway—in order to develop its project.
Mercy will combine this with the adjacent property they own just west of the city property they purchased.
Read more on the Long Beach Post
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