Centennial Advisers’ very own Eric Christopher is featured in the Long Beach Business Journal, June 30, 2018. Author & Photo Credit: Brandon Richardson, Senior Writer
Despite high costs and red tape, Long Beach has more than 30 multi-family projects under construction or planned by private investors – not to mention six single-family developments, including detached homes and townhomes. Bogoyevac explained that developers and investors are drawn to Long Beach because it has been overlooked for so long and is a great value compared to surrounding areas. Also, being centrally located between Los Angeles and Orange Counties, the city is ideal for employees in either market who desire cheaper rents.
Christopher likened the market to a Monopoly board, where investors are sitting on one side where expensive properties are located – Santa Monica, Newport Beach and the like – and see Long Beach on the other side. He said investors are realizing they can get more units for their buck in Long Beach.