Homes, Hotel Proposed Near Bolsa Chica
California Resources Corp. is proposing a coastal housing development. An oil company that owns a stretch of Orange County’s coastline in Huntington Beach near Bolsa Chica State Beach has proposed a major project of houses, retail and a hotel.
As many as 800 housing units and a 350-room hotel, plus dining and shopping uses, have been proposed by California Resources Corp., a Long Beach-based energy company that applied for such a development to the city of Huntington Beach.
The proposed mixed-use development would be built next to Bolsa Chica Ecological Reserve and Bolsa Chica Basin State Marine Conservation Area, two areas designated to protect coastal habitats and marine life.
California Resources Corp. (NYSE: CRC) owns the 92-acre property along Pacific Coast Highway between Goldenwest Street and Seapoint Street, where the mixed-use development could be built. The publicly traded company, which has a $3.2 billion market cap, explores, develops and produces crude oil, oil condensate, natural gas liquids and natural gas to California refineries, marketers and other purchasers.
The Bolsa Chica wetlands area for decades was the subject of an intense dispute between conservationists and developers. The latest battle was settled in 2016 when the Bolsa Chica Land Trust announced an agreement to purchase 11 acres of disputed property.
The energy company proposed converting the industrial land it owns between the northwestern edge of downtown Huntington Beach and Bolsa Chica Ecological Reserve into a mixed-use development with housing, a resort-style hotel, dining options and shopping.
California Resources specially proposed 800 residential units on 53 acres, a 350-room hotel on 16 acres while leaving 23 acres for open space with a park along Pacific Coast Highway and recreational uses for residents and visitors.
“The goal of this project is to shape the future of the property with the evolving needs of the local community,” Bob Grundstrom, California Resources Corp.’s senior vice president of business development, said in a statement.
The 92-acre property in Huntington Beach includes 1.2 miles of coastal frontage. Hundreds of housing units already exist just east of the California Resources Corp. property.
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