Lompoc is trying to carve out a bigger piece of the Central Coast tourism pie.
The fighting over Miramar is a sign that this project is literally barreling down the road for approval, albeit one that is not going to be trumpeted from any rooftops. And the reason is, in a word, money.
The proposal includes demolishing an existing 12,000-square-foot building to construct a 55,000-square-foot, 45-foot tall hotel at 926 Indio Muerto St.
At a Jan. 21 Montecito Planning Commission meeting that lasted well into the evening, developer Rick Caruso was ultimately given the OK for his redesigned Miramar project. However, the commission attached a few conditions to the approval, which didn’t sit well with the founder of one of the largest privately held real estate companies in Read More →
Tucked neatly between buildings at 1130 Morro St., a 23-room addition is being planned for the now 17-room hotel.
For the year ahead, industry professionals expect more growth, but a slightly slower pace.
The deal is touted as a move to accelerate growth of the new company’s brands in the U.S., particularly in Europe and Asia, where demand for boutique brands is on the rise.