In August 2016 approximately 29 acres of land was acquired in the City of Huntington Beach, California. The site is located north of Pacific Coast Highway on Magnolia Street with close oceanfront proximity and convenient access to Huntington State Beach and the numerous coastal amenities.
The business plan is to process entitlements for approximately 250 single-family detached and attached units and a 4-acre commercial site designed for a 215-key boutique lodge and approximately 19,000 square feet of neighborhood / visitor serving retail.
Since acquisition, the property’s existing oil storage tanks were removed, and the entitlement process is well underway. The site is currently being utilized as a “lay down yard” for the construction of a new power plant to the north of the site.
To date, a Specific Plan – Zoning document has been submitted to the City, technical studies have been prepared, and an Environmental Impact Report is in process.
This is neither an offer to sell nor a solicitation of an offer to buy any security. An investment in a Shopoff limited partnership involves a high degree of risk, including the possible loss of your investment, and is illiquid with an uncertain liquidity date. Past performance is not indicative of future results. Securities offered through Shopoff Securities, Inc., member FINRA/SIPC.