Both the Beverly Press and WeHo News are reporting that the West Hollywood City Council finally got around to approving that Eric Owen Moss-designed hotel planned for corner of Sunset Blvd and Doheny Drive (9040 Sunset Blvd) this week. But in considering the approval, there was just one glitch: One of developer Weintraub Financial Services' partners in the deal was Ezri Namvar, the financier accused of running a ponzi scheme.
According to both publications, the project is being restructuring in terms of its ownership agreement to diminish Namvar's role. According to the WeHo News, the West Hollywood city attorney hired an outside law firm to look into Namvar’s estate, an expense that was eventually paid by the developer. "The revised development agreement has WN Sunset LLC paying the $30,000 in attorney fees generated by the investigation, something to which council member John Duran objected, but Mayor Abbe Land defended. 'I think we had to defend the city’s interests and do due diligence,” she said, “and I think it’s right to ask the developer to pay for the investigation into their finances,” because it came to council as a surprise and compelled a two-week investigation at the end of the process."
No word on when it'll break ground, but when completed, the project will be have 148 hotel rooms, 20 condo units, and 38,000 square feet of retail/restaurant/other space. Likely Eric Owen Moss is happy to see the approval given that his Venice project was vetoed by the community.
· Hotel Project on Sunset Strip Approved [Beverly Press]
· 9040 Sunset Pulls it Off [WeHo News]