California Resources Corporation Pursues Zoning Change for Ocean Front Property Revitalization in Huntington Beach
Plan Aims to Develop Vibrant Coastal Community including Housing, Hospitality, and Open Space
LONG BEACH, Calif., March 28, 2025 – California Resources Corporation (NYSE: CRC) announced today that it has submitted an application to the City of Huntington Beach to revise an adopted specific plan for a portion of the company’s 92-acre property located at 20101 Goldenwest Street. This proposal is an important step towards revitalizing the site by updating land uses for the property to allow for a dynamic, community-focused development.
CRC’s vision for the property includes high-quality housing, resort-style hospitality, and commercial offerings including retail and dining opportunities. The development will also include significant open space for public use. This multi-year project, which fronts 1.2 miles of Pacific Coast Highway between Goldenwest Street and Seapoint Street, will provide for the restoration of the land from its current industrial use so that it is ready for its next chapter. Throughout the process, CRC is committed to ongoing community engagement to ensure the project reflects the priorities of the Huntington Beach community.
“The goal of this project is to shape the future of the property with the evolving needs of the local community,” said Bob Grundstrom, CRC’s Senior Vice President of Business Development. “We recognize the importance of thoughtful growth and understand the community’s concerns about high-density housing—and that’s not what this is. By transitioning the property from an industrial site to a mixed-use community, we’re not only creating housing and economic opportunities but also ensuring that this coastal asset serves residents and visitors for generations to come.”
A Balanced Plan for Smart Redevelopment
CRC is proposing to amend the City’s Palm/Goldenwest Specific Plan (PGSP) to allow for a designed coastal community featuring:
New Housing: Up to 800 residential units on approximately 53 acres (56% of the property), with a mix of single-family detached homes, townhomes, and condominiums. Ten percent of the homes will comply with the City’s affordable housing policies.
Resort-Style Hospitality and Commercial Space: Up to 350 hotel rooms on approximately 16 acres of visitor-serving uses, including retail and dining, taking advantage of the site’s appeal as a coastal destination.
Expansive Open Space and Parks: Approximately 23 acres dedicated to open space, including a one-mile linear park along Pacific Coast Highway, providing improved coastal access and recreational opportunities for residents and visitors.
Currently, the City’s PGSP designates 94% of the property for commercial uses, allowing up to 1.7 million square feet for office, hotel and other visitor-serving uses. CRC’s proposal offers a significantly less intense alternative while delivering local economic benefits through increased property, sales, and transient occupancy tax revenues.
In addition to amending the PGSP, CRC’s application includes proposed updates to the City of Huntington Beach’s General Plan and, because the property is in the coastal zone, the City’s Local Coastal Program to reflect the land use revisions. The Coastal Commission has final approval of any proposed changes to the City’s Local Coastal Program.
For more information, visit www.CRCHBproperty.com.
About California Resources Corporation
California Resources Corporation (CRC) is an independent energy and carbon management company committed to energy transition. CRC is committed to environmental stewardship while safely providing local, responsibly sourced energy. CRC is also focused on maximizing the value of its land, mineral ownership, and energy expertise for decarbonization by developing CCS and other emissions reducing projects. For more information about CRC, please visit www.crc.com.
Contact:
Richard Venn (CRC Media)
818-661-6014
Richard.Venn@crc.com
Joanna Park (CRC Investor Relations)
818-661-3731
Joanna.Park@crc.com