The company hosted a groundbreaking ceremony to celebrate the $150 million project, commencing the first phase of a 900-unit master plan to redevelop the Mosaic shopping center, formerly known as City Place Long Beach.
JPI, a leader in Class A multifamily development, has broken ground on Portico, a 272-unit, mixed-use development in Long Beach, California.
Major Rex Richardson delivered keynote remarks to commemorate the occasion alongside other city officials and project leaders from JPI, AC Martin, Salas, Coffman, DEA, MJS and Turnbridge Equities.
“It’s exciting to see this vibrant mixed-use project take shape,” said Mollie Fadule, chief financial and investment officer at JPI. “Long Beach continues to grow with new development throughout the downtown core, and we’re proud to be a part of that momentum.”
Located at 450 The Promenade North, the eight-story, podium-style building will offer a diverse mix of residences, including 10% studios, 49% one-bedroom apartments, 40% two-bedroom apartments and 1% three-bedroom apartments. Premium amenities reserved for residents include a speakeasy, rooftop deck, golf simulator, fitness facility, sauna and a pool deck overlooking the Mosaic shopping center.
Once complete in June 2028, residents will also have access to 18,841 square feet of ground-level retail designed for eight new shops and services along the promenade, building on the success of recent additions, Broken Spirits and Ammatoli, and local mainstays at The Pike Outlets and Shoreline Village.
Other nearby attractions include the Aquarium of the Pacific and The Queen Mary – both within walking distance – as well as the city’s 2nd Street retail and dining strip and 2nd & PHN shopping mall. Interstate 710 and the newly renovated Long Beach Airport are conveniently located within a six-mile radius of the community, offering additional ease for commuters traveling to hubs in Los Angeles and Orange County.
