**JPI Breaks Ground on $150M Portico Development in Long Beach**
JPI has officially broken ground on Portico, a $150-million, 272-unit mixed-use development located in the heart of Long Beach. The groundbreaking ceremony marked the commencement of the first phase in a larger master-planned redevelopment, which ultimately aims to deliver 900 residential units at the site of the former City Place Long Beach, now known as the Mosaic shopping center.
“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.”
Situated at 450 The Promenade North, the new eight-story, podium-style building will offer a diverse mix of residential units supported by ground-floor retail space. Project completion is anticipated in June 2028.
In a separate milestone, JPI also completed the acquisition of Parcel A for its Jefferson Avenue project in Murrieta. This 394-unit, four-story garden-style multifamily development marks another step in JPI’s ongoing expansion across Southern California.
