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CurbedWire Bonus: Preservation Updates

[Image of Dutton's courtyard by flickr user savemejebus]

BRENTWOOD - When was the last time you heard a developer say the words "I was wrong"? Remarkably, the LA Times reports billionaire developer Charles T. Munger uttered those very words. Munger has scrapped plans to build 60 luxury condos where Dutton's now stands and is instead planning on building a two-story retail complex. What is still unclear is whether efforts to get the building declared a historic-cultural monument will succeed. Is this really a case of a developer having a change of heart or cold feet in a cooling condo market? [LA Times]

HOLLYWOOD - The LA Times also checks on the Yamashiro and Magic Castle land sale. Yup, not much new there. In a nutshell - the 10 acres will fetch about $70-80 million, making construction of anything less than 500 to 800 condos unprofitable, the LA Times is putting its money on hotel development for the site and, oh yeah, traffic already sucks there. The good news - any land sale stipulates that Yamashiro and the Magic Castle will continue to operate there. [LA Times]