Is the condo-and-hotel development craze (downtown's Ritz, Beverly Hills' Montage) over? Not so much. New York-based MSD Capital, owner of the Fairmont Miramar Hotel, in Santa Monica, just submitted plans to the city to overhaul its hotel, reports the Santa Monica Daily Press. Changes include adding condos, reducing the number of hotel rooms while increasing their size, and bringing in new retail. The city sounds all lit up by the idea, according to the paper, but there may be a wrinkle: "....members of the Santa Monica Bay Towers Home Owners Association did not have access to Ocean Avenue LLC's proposals for the site, and did not know if the remodeled hotel would encroach on their ocean view." Plans will be presented at forthcoming public meetings, according to the SMDP.
· Developer submits plans for iconic hotel [SMDP]