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Successor agency approves sale of 1827 Pacific Avenue with 15% affordability covenant
Summary
The Successor Agency to the Redevelopment Agency of Long Beach approved a purchase and sale agreement for a vacant 16,000 sq ft parcel at 1827 Pacific Ave for $955,680; the proposed buyers plan up to 22 housing units and a recorded covenant will require 15% of units to be affordable to low‑to‑moderate income households.
The Successor Agency to the Redevelopment Agency of the City of Long Beach voted April 1 to accept an offer of $955,680 and authorize the city manager to execute a purchase and sale agreement for an unimproved, surplus parcel at 1827 Pacific Avenue, district 7.
A staff presentation described the lot as “a little bit under 16,000 square feet” and reported a recent appraisal of $1,027,000. The buyers are listed in the staff report as BJ and Sons LLC and Hill Guard LLC; their offer…
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