Long Beach : Plan for Office Tower, Parking Garage, Hotel OKd

McDonnell Douglas Realty Co. won Long Beach City Council approval this week for a downtown redevelopment project that includes a 36-story office building, a parking garage and the option to build a 450-room hotel near Ocean Boulevard.

Under terms of an agreement between the city Redevelopment Agency and McDonnell Douglas, the company will construct the office building on land it owns at the southwest corner of Golden Shore and Ocean Boulevard. It will pay the city $12.8 million for a nearby parcel of nearly five acres on the northeast corner of Golden Avenue and Ocean Boulevard, and build a parking garage of up to 3,500 spaces. The hotel also would be located on that tract.

McDonnell Douglas is loaning the agency $10 million to move part of Shoreline Drive westward, which will open up parkland between Ocean Boulevard and 6th Street for use by adjacent residential neighborhoods. The agency will repay $8.7 million of the realignment costs over a period of years, using money from property tax increases derived from the development.