Goldstein Planting hopes for third chance with Beverly Hills planning commission

This will be the third time the Friar’s Club developers present their proposal

Los Angeles /
Jan.January 11, 2018 08:00 AM
9908 South Santa Monica Boulevard (credit: Google Maps)

Third time’s the charm?

The developers behind the former Friar’s Club at 9908 S. Santa Monica Boulevard in Beverly Hills will present their latest proposal to the Planning Commission Thursday. This time, Goldstein Planting, led by Cliff Goldstein and Drew Planting, are hoping the commission will approve their plan for 27 luxury condominiums in one of Beverly Hills’ few commercial zones, the Beverly Hills Courier reported.

Goldstein Planting has owned the property since August 2014, when it acquired it from Univision Communications for $7 million, property records show.

Having been turned down twice, the applicants are now turning in a rather underdeveloped proposal in hopes that the commission will guide them to approval. Several elements are missing from the proposal, including required parking spaces and staff verification.

As is, the modified project would increase ground floor retail from 3,540 square feet to 10,500 square feet. Still, the 27 condominiums would require a “Residential Overlay Zone,” meaning a significant chunk of commercially-zoned land would be lost in Beverly Hills. Commercial zones currently only represent 9 percent of the city, yet they also provide 50 percent of the city’s taxes.

But that doesn’t necessarily mean it’s lacking support. In a surprising turn of events, two previously neutral members of the community — Noah Furie, Chair of the Cultural Heritage Commission, and Gabby Reims Alexander — are now lobbying for the project. Realtors and residents in the area are also backing it.

Goldstein Planting paid $48 million in March 2016 for a 96,000-square-foot medical complex in Burbank. It’s also a joint-venture partner on the mixed-use Noho West development in North Hollywood. [BHC] — Natalie Hoberman


Related Articles

arrow_forward_ios
Nicolas Berggruen and the Hearst Estate (Hilton & Hyland, Getty)
Sold: Billionaire pays $63M at auction for Hearst estate
Sold: Billionaire pays $63M at auction for Hearst estate
Carl Reiner with the neighboring properties (Getty, Google Maps)
Carl Reiner’s neighboring Beverly Hills Flats homes sell for $16.8M
Carl Reiner’s neighboring Beverly Hills Flats homes sell for $16.8M
Griffon Capital’s Ron Kramer buys Beverly Hills estate in off-market deal
Griffon Capital’s Ron Kramer buys Beverly Hills estate in off-market deal
Griffon Capital’s Ron Kramer buys Beverly Hills estate in off-market deal
Michael Shvo and 9200 Wilshire renderings (Shvo, Getty)
Shvo signs Mandarin Oriental to Beverly Hills residential project
Shvo signs Mandarin Oriental to Beverly Hills residential project
Sportswear founder sells another $20M LA home
Sportswear founder sells another $20M LA home
Sportswear founder sells another $20M LA home
Mohamed Hadid and 901 Strada Vecchia Rd (Getty, Realtor)
Hadid ordered to pay $3 million in damages over Strada Vecchia mansion
Hadid ordered to pay $3 million in damages over Strada Vecchia mansion
Mohamed Hadid and renderings of the project (Getty, Hilton & Hyland)
Embattled Hadid relists Beverly Hills site for $250M
Embattled Hadid relists Beverly Hills site for $250M
Charles Fries (Getty)
Beverly Hills estate once owned by Paramount Pictures, Charles Fries, lists for $25M
Beverly Hills estate once owned by Paramount Pictures, Charles Fries, lists for $25M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...