Los Angeles-based investment firm Urban Commons has secured a 66-year “master lease” for Queen Mary in Long Beach, California.
The company plans to renovate the former Cunard Line vessel while eventually building a “bustling retail, dining and entertainment district” on the 45 acres surrounding the historic ship, according to a press release.
Urban Commmon’s website says it has “a successful track record for developing, repositioning and rebranding assets throughout the United States.” It adds that the “company focuses on impacting under-managed and under-utilized assets by developing innovative and emerging properties to promote optimal economic, social and environmental returns.”
Details on the exact nature of Queen Mary’s renovation are still sketchy, but an Urban Commons spokesman told the Curbed Los Angeles website that it will create “a new aura of regal elegance while maintaining the ship’s cherished historic elements.”
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