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Objective
To identify a retail tenant for the commercial space at the Palace Hotel
that has a social motivation, is willing to commit to hiring our residents,
and complements the project’s goals and objectives of assisting in the
education and professional growth of transitional aged youth.
Timeline
Accepting Retail Proposals through June 2010
Selection anticipated by September 2010
Features
• Opportunity to help former foster youth gain invaluable work experience
• Free rent with commitment to hire residents
• 896 square feet of flexible commercial/retail space
• Prominent corner entrance
• A tenant improvement allowance
• LEED certification that enables energy efficiency and lower utility costs
• Abundant pedestrian traffic and close proximity to public transportation
• Participation in the Business Improvement District
• Local historic designation (originally built in 1929)
Tenant Parameters
Authorized uses:
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The property is located in a Community Commercial Zoning District, Community
Pedestrian-Oriented (CCP). The CCP designation establishes allowed uses for
the retail space at the Palace Hotel. For a list of allowed uses see
Exhibit A.
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In the Disposition and Development Agreement dated June 3, 2009, LINC agreed
to certain prohibited uses with the Long Beach Housing Development Company.
For a list of prohibited uses see
Exhibit B.
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Limitations:
• No designated parking
• Historic nature of the property will limit the amount and
type of exterior signage allowed
The ideal tenant will:
• Commit to hiring and training residents of the Palace Hotel
• Have a social motivation
• Generate a variety job types desiring varied levels of skills and experience
• Be willing to recruit employees locally
Selection committee includes staff members from:
• LINC Housing Corporation
• Long Beach Housing Development Company
• United Friends of the Children
A portion of the funding for The Palace Hotel comes from the federal
stimulus package included in The American Recovery and Reinvestment Act,
creating and preserving jobs for more than 275 local workers in the
construction and related fields.
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