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South Bay Hotel Boomlet Continues With Fancy Hermosa Hotel

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Plans are afoot to build a luxury hotel on the site of a handful of bars and restaurants--including the now-closed Mermaid restaurant--on Hermosa Beach's pedestrianized Pier Avenue, reports GlobeSt, continuing the South Bay's hotel boomlet. Earlier this year, another hotel developer tried to buy the property, but that deal fell through. The successful buyer is a company called Strand and Pier Holding, which bought the site in May, says the Daily Breeze, and is a joint venture between Portland-based Provenance Hotels and Beverly Hills's own Bolour Associates. This is their first project together and will be Provenance's first hotel in the LA area, but Bolour is the group originally behind the The Vermont at Vermont and Wilshire (they entitled the project, then sold) and the residential conversion of SB Lofts in the Historic Core (which they also sold). It's still early days for the Hermosa hotel, though--the entitlement process has only just begun, and they don't expect to start work before 2015.
· Funky Bar May Yield to Lux Hotel [GlobeSt]