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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 was 93 percent of the appraised value. The buyers proposed to build up to 22 residential units on the site. Under the Surplus Land Act compliance outlined by staff, the purchase will be subject to an affordability covenant requiring 15 percent of residential units to be affordable to low‑to‑moderate income households (staff identified the affordability level as "low to moderate, so 80%" in the hearing).
Staff said the buyer must deposit $30,000 at opening of escrow, will have 30 days for due diligence (inspections and contingencies) and a close of escrow 15 days after the expiration of the due diligence period. The staff report noted the item would be presented to the county oversight board; that meeting was rescheduled to April 23, 2025 because of a lack of quorum.
The board approved Resolution/Action to accept categorical exemption CE25‑015 and authorize execution of sale documents. The transcript records the motion carried; individual roll‑call vote tallies and the names of the mover and seconder were not provided in the record.
Staff presentations and board discussion addressed zoning and affordability; a board member asked whether the parcel’s zoning was residential or mixed use and staff replied that it is currently zoned residential. A board member asked for the specific level of affordability, and staff answered “low to moderate. So 80%.” No public speakers addressed this item during the successor agency portion of the meeting.
