Shopoff Realty Investments has successfully obtained unanimous approval from the Huntington Beach City Council for its mixed-use development project, Magnolia Tank Farm. The 29-acre project is located near Magnolia Avenue and Pacific Coast Highway and also received approval from the California Coastal Commission in July.
With all necessary approvals now secured, plans can move forward to the next stage of development. The project will feature over 200 single-family homes for sale, a 50-unit affordable multifamily community, and a boutique hotel with 215 rooms and approximately 19,000 square feet of retail space.
“We are grateful to the city of Huntington Beach for their support of this exceptional project,” said William Shopoff, president and CEO of Shopoff Realty Investments. “We believe it will be a fantastic addition to the city’s landscape and revitalize this previously neglected area along the coast.”
The company aims to provide high-quality housing options through this development while also addressing affordable housing needs in Huntington Beach. As part of their commitment to supporting local workers within both onsite at hotels as well as throughout coastal areas in Huntington Beach regionally; they have dedicated half (50%)of their affordable units specifically towards hotel employees on site or within close proximity.
