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Spanking New Ocean Ave. Hotel for Santa Monica

It's clear Globe St. reporter Bob Howard is really fired up about this Santa Monica land sale, so now we are, too. Here's the deal: An oceanfront development site on Ocean Avenue near the Santa Monica Pier that is entitled for a 73-room hotel has just been sold for $34 million. The land provides for a "four-story, high-end boutique style hotel that will feature a separate restaurant, a rooftop pool and a bar." Also why this is big news: the forthcoming project is "the first new hotel to be built in Santa Monica in 10 years." We will patiently await more news about this exciting new bar, errr, hotel.
· Rare Seaside Hotel Site Commands $34M [Globe St.]