Thirteen acres of land in downtown Long Beach was assembled and acquired by TRC in 1987. TRC successfully planned and entitled the site for a 3.4 million mixed-use development, including approvals by three agencies in the City of Long Beach and the California Coastal Commission. Development of the site was delayed by litigation which was successfully challenged by TRC. By the time litigation was resolved; the real estate market had declined and no longer supported the proposed development. The land was subsequently sold for residential development.
The companyâ€™s institutional partner in The Pike was Copley Real Estate Investors.