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