Leucadia Beachfront Hotel
From the UT with hat tip to WC Varones (JMI = John Moores, ex-Padres owner):
Developers have finally started construction activity this week on a Leucadia bluff-top hotel project that’s been talked about for decades.
Located just west of La Costa Avenue’s intersection with Coast Highway 101 and part of a site that once contained the Cabo Grill, the 4.3-acre property will become home to a $110 million, 130-room hotel. The luxury hotel, which will have ocean views from all but two of its guest rooms, is scheduled to open for business in November 2020.
Fenway Capital purchased the property about 13 months ago and is working jointly with JMI Realty to develop the land, which was once owned by KSL Resorts, Jackel said. Long ago, this property was envisioned as a companion property — kind of a “beach club” — to the La Costa Resort & Spa just east of El Camino Real, he added.
People passing the site initially will notice little more than new fencing, construction trailers and some surveying work. But at the end of January, a hotel project-funded sand replenishment will start on the beach below the bluff. Contractors will be adding 45,000 cubic yards of sand to the beach between late January and the end of February.
A public staircase in the area will remain and a new beach access pathway will be added from La Costa Avenue as part of the hotel development, Jackel said. The new pathway is scheduled to open just before the start of summer in 2020, a construction timeline indicates.Link to Full Article