HUNTINGTON BEACH, Calif. , Sept. 18, 2024 /PRNewswire/ -- Shopoff Realty Investments ("Shopoff"), a national manager of opportunistic and value-add real estate investments, has secured City Council approval for its mixed-use master plan project, Magnolia Tank Farm , located on 29 acres near Magnolia Avenue and Pacific Coast Highway in Huntington Beach, California .
The council voted 7-0 in favor of the project. It was our ability to build a coalition of diverse groups that led to our ability to garner unanimous support. Shopoff secured California Coastal Commission approval in July 2024 .
With City Council approval now in place, plans for this vibrant future community in Huntington Beach can now move into the next stage of development. The project anticipates approximately 200+ for-sale single-family detached and attached homes, a 50-unit affordable multifamily community, and a 215-key boutique hotel with 19,000 square feet of retail. "We are grateful to the city of Huntington Beach for their support of this project, which we believe will be a fantastic addition to the city, brightening this historically blighted stretch of the coast," explained Shopoff President and CEO William Shopoff .
"This approval marks a major milestone for the project, and we'd like to thank all our many supporters who saw the immense value in this new community, including affordable housing advocates, labor unions, construction and hotel workers, Huntington Beach residents and businesses, as well as .