Waterford Property Company, Turnbridge Equities and Monument Square Investment have scored approvals from the City of Long Beach to redevelop a shuttered mall into 900 apartments. The City Council unanimously approved the developers’ plan to build apartments and 38,000 square feet of retail across the 14-acre former City Place Long Beach at a meeting on Tuesday night.

New York-based Turnbridge Equities, Newport Beach-based Waterford Property Company and Monument Square Investment Group, based in Beverly Hills, have unveiled plans for 900 new apartments and 30,000 square feet of shops and restaurants at the open-air mall, the Long Beach Business Journal reported. The trio of real estate investors acquired the beleaguered shopping center in March of last year through the sale of a $63 million loan.

A trio of investors has redevelopment plans for a beleaguered Long Beach shopping center and office complex it acquired through a loan sale. Turnbridge Equities, Waterford Property Company and Monument Square Investment Group bought the nonperforming loan on City Place Long Beach late last year.