Fully Entitled 203-Units - Prime Downtown Long Beach
Trophy High-Rise 203 Unit Development Site in Prime Downtown Long Beach | 615 E Ocean Blvd
Marketing description
MOTIVATED SELLER - SUBMIT ALLL OFFERS
Kidder Mathews is pleased to present the exclusive opportunity to acquire 615 E Ocean Blvd, a fully entitled high-rise development site located in the heart of Downtown Long Beach. Positioned along the iconic Ocean Boulevard corridor, the property is just steps from the beach and within walking distance to an array of restaurants, cafes, nightlife, and cultural institutions. With approximately 100 feet of prime frontage and constant foot and vehicle traffic, the site offers extraordinary visibility and panoramic views of the Pacific Ocean, marina, and city skyline, making it one of the most compelling development opportunities on the Southern California coast.
The project is entitled for a striking 21-story residential tower consisting of 203 units, including 13 units reserved for Very Low Income households under the city’s Inclusionary Housing Ordinance. The approved plans include 261 parking spaces in a fully automated structure, three loading bays, and 41 bicycle parking stalls. Through the use of one on-menu and two off-menu regulatory concessions under the Enhanced Density Bonus program, the project benefits from an 80% increase in allowable floor area ratio. A height exception has also been granted, allowing for a maximum building height of 257.5 feet, which is well above the standard 240-foot limit for the area, provided the project achieves LEED certification.
Downtown Long Beach continues to attract significant investment from both institutional and private developers, spurred by its coastal location, expanding residential population, and pro-growth city policies. The surrounding neighborhood features a dynamic mix of high-rise and mid-rise multifamily buildings, boutique hotels, office towers, and adaptive reuse projects. Residents are minutes from the Long Beach Convention and Entertainment Center, Shoreline Village, Aquarium of the Pacific, The Pike and Rainbow Harbor Waterfront, the Marina, and the Promenade. Other notable destinations include Pine Avenue, the Queen Mary, the Port of Los Angeles, and the nearby coastal neighborhood of Alamitos Beach.
The property is surrounded by major employers and offers excellent regional connectivity via the 710 and 405 Freeways. It is also located just a few blocks from the Metro A Line, providing direct transit access to Downtown Los Angeles and the greater LA region. As the city’s economic hub and cultural core, Downtown Long Beach offers a unique live-work-play environment with high barriers to entry and sustained demand for new housing.
Investment highlights
MOTIVATED SELLER - SUBMIT ALLL OFFERS
RARE OCEANFRONT DEVELOPMENT OPPORTUNITY
Extremely rare opportunity to build a Class A, high-rise multifamily tower with exceptional visibility and unparalleled views of the Pacific Ocean, marina, and Downtown Long Beach skyline.
PR IME FRONTAGE ALONG OCEAN BOULEVARD
Approximately 100 feet of frontage along East Ocean Boulevard with high daily foot and vehicle traffic, offering superior exposure in one of the most iconic coastal corridors in Southern California.
FULLY ENTITLED HIGH-RISE DEVELOPMENT
Approved for a 21-story, 203-unit residential tower, including 13 Very Low Income affordable units. No additional discretionary approvals required.
OCEAN BOULEVARD LOCATION I N DOWNTOWN LONG BEACH Premier coastal site just steps from the beach, surrounded by a vibrant mix of restaurants, bars, shopping, and cultural attractions.
HE IGHT EXCEPTION & DENS IT Y BONUS SECURED
Entitlements include an 80% increase in allowable FAR and a height exception up to 257.5 feet—17.5 feet above the standard maximum—subject to LEED certification.
AUTOMATED PARKING & MODERN AMEN ITI ES
Plans include a fully automated parking system with 261 stalls, three loading bays, and 41 bicycle parking spaces, offering high-efficiency urban living.
WALKABLE & TRANS IT-OR I ENTED
Located in one of Southern California’s most walkable neighborhoods and offers immediate access to the Metro A Line (Blue) and quick access to the 710 and 405 Freeways
MI NUTES TO MAJOR DESTINATIONS
Close proximity to the Long Beach Convention Center, Shoreline Village, Aquarium of the Pacific, The Pike, the Promenade, the Queen Mary, and Alamitos Beach.
STRONG MARKET FUNDAMENTALS
Downtown Long Beach is experiencing a wave of investment and development, supported by robust rental demand, major employment hubs, and a live-work-play lifestyle.
HIGH BARRIERS TO ENTRY
One of the few entitled high-rise sites in the area with no tenant relocation or demolition required, offering a streamlined path to development.
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