A 29-acre hotel and housing development in southeast Huntington Beach won approval Wednesday from the California Coastal Commission.
Shopoff Realty Investments owns the land of the former Magnolia Tank Farm – the name comes from the oil storage tanks that once stood there – and the company wants to build 250 homes, a hotel and park space.
Bill Shopoff, CEO of Shopoff Realty, said after the meeting that they are thrilled it won approval.
“We are dedicated to seeing this project come to fruition and be a bright spot for Huntington Beach, instead of the blight it has historically been on this stretch of the coastline,” Shopoff said in a statement.
The approval is one year after the commission punted on deciding whether to move the project forward. At that meeting, the commissioners wanted more time to examine risks at the site, including whether future sea level rise might be a danger for the property that’s within sight of the beach.