JPI acquires portion of Mosaic site in Downtown Long Beach, plans 272 apartment community

A piece of the redevelopment of the defunct Long Beach Plaza Mall in Long Beach, Calif., has traded hands, and its new owner will complete the entitled project. Dallas-based JPI purchased a 1.6-acre section of the property, enclosed by Long Beach Boulevard, Fourth Street, Fifth Street and The Promenade North, for an undisclosed price, according to Urbanize, which first reported the news. A joint venture between Turnbridge Equities, Waterford Property Company and Monument Square Investment Group will retain and develop the rest of the roughly 14-acre site.