Pacific6 Purchases Ocean Center With Plans For Housing, Retail
Pacific6, a company of local investors including former Molina Healthcare CFO John Molina, purchased the historic Ocean Center building at 110 W. Ocean Blvd. today for $18 million, according to a company statement provided to the Business Journal. The sale officially closes tomorrow. Pacific6’s plans for the 1929 building include 70 to 80 housing units and retail. The 14-story structure served as an office building until it was vacated in recent years by the previous owners, who had intended to transform it into a boutique hotel.
Michael Bohn of Long Beach-based Studio One Eleven, in partnership with David Gray Architects, designed plans for the reuse of the building for the previous owners. “Thanks to the renovation roadmap they created for the building during a past redevelopment effort, we will be able to quickly put their plan into reality, while creating critical local housing, enhancing the famous intersection of Ocean and Pine, and preserving one of the most significant buildings in Long Beach,” Molina stated. Pacific6 is also the owner of the nearby Breakers building, which the company plans to convert into a hotel. The firm will make announcements on a “broader project portfolio planned throughout 2018,” according to the statement.
PierPass To Overhaul Offpeak Program
PierPass’s offpeak program to mitigate truck traffic at the San Pedro Bay ports is set to undergo an overhaul, the organization announced today. The 12 marine terminal operators at the ports decided on a new model for the program after 18 months of consultation with supply chain stakeholders and an analysis by industry consultants. The current model is being replaced with an appointment-based system for truckers entering the terminals. Truckers will now pay a flat fee to enter during both daytime and nighttime shifts at a new rate of $31.52 per twenty-foot equivalent unit container – a more than 55% decrease in cost. Truckers hauling containers of other sizes will pay a flat rate of $63.04. For more information, see the April 24 edition of the Business Journal.
Updated Election Numbers Show Mungo, Uranga
Face Tough Challenges To Winning A Second Term
After nearly all the ballots were counted from the April 10 Long Beach primary election, city council incumbents Stacy Mungo and Roberto Uranga lost a little more ground in their efforts to be reelected to a second term. Updated counts released late Sunday by the Long Beach City Clerk’s office show both are vulnerable as they head into the June runoffs.
Other incumbents routed their challengers. Mayor Robert Garcia received 78.8% of the 39,845 votes cast for mayor (15.1% turnout). Third District Councilmember Suzie Price got 78.3% of the 9,012 votes cast for the council race (24.1% turnout). Vice Mayor and 9th District Councilmember Rex Richardson received 79.8% of the 2,428 votes cast for the council race (9.1% voter turnout). Citywide, the voter turnout was 15.8%, with nearly 70% of the votes mailed in.
On Election Day, 5th District Councilmember Mungo had 48.5% of the vote. That percentage now stands at 47.9%. She faces off with former harbor commissioner Rich Dines, who finished second with 29.4%. But third-place finisher Corliss Lee tallied 18.7% of the vote, which means the combined Dines-Lee votes slightly exceed Mungo’s total. If Lee supporters go with Dines, the race is a toss up. Voter turnout for the 5th District Council race was 25.2%. The district covers all of Northeast Long Beach.
Uranga is facing a similar situation in the 7th Council District, which stretches from the Wrigley area on the west to California Heights on the east. The latest count shows Uranga with 47.3% of the vote. He goes head-to-head in June with Jared Milrad, an entrepreneur and former Obama White House employee. Milrad received 32.2% of the vote. His total, combined with third-place finisher Kevin Shin’s 16.2%, exceeds Uranga’s total. Again, if Shin supporters back Milrad, the race is a toss up. Voter turnout for the 7th District Council race was 19%.
The voter turnout for those districts without a city council race (districts 1, 2, 4, 6, 8) tallied 11.5%.