Page 5 - GSP_Residences_at_Linden_OM_Equity

THE

PROJECT

“Residences at Linden” is a 82,253-square-foot luxury mixed-use project that will
integrate 82 market-rate units above 3,900 square feet of prime ground-floor
LONG BEACH, CA, 90802
retail space in the heart of downtown Long Beach, California. The site occupies
a coveted 18,500 square feet on Linden Avenue off the corner of 1st Street in

the city’s dynamic East Village Arts District. Its irreplaceable location in this
LINDEN MIXED USE
high-barrier-to-entry urban core market positions the property as perhaps the
135 LINDEN AVE
best development site in all of Long Beach.
Designed by David Hibbert of award-winning DFH Architects, the contemporary-
arts-style building will comprise 5 levels of wood-framed Type III apartments
over 2 levels of above-grade concrete podium retail/parking and 2 levels of
below-grade parking. Its favorable mix of 69 one-bedroom (84%) and 13 two-

bedroom (16%) units will range in size from 646 to 1,075 square feet.

The Sponsor owns the site and has invested significant time and resources
over the past two years to finalize design and permitting. With the project
in a position to pull permits and break ground as soon as October 2020, a
joint venture equity partnership is targeted before 2020 Year-End. Following
RENDERING
an anticipated construction schedule of 25 months, the Sponsor’s preferred
business plan is to hold the asset long term through stabilization, though a

build-to-sell or recapitalization strategy may also be considered.

RESIDENCES AT LINDEN | 5

REVISION NO.
SITE PLAN REVIEW 1

Date: 06/16/17
Scale:

By: Author
Project No:
1627
6/16/2017 2:15:07 PM Render from Linden Avenue Facing South-West. T-0.02
Page No:

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