NEW DEVELOPMENTS

The defunct collection of partially broken-down Montecito beach
cabanas known as the Miramar is once again on the market after
local real estate collector and Beanie Baby mogul Ty Warner decided
to sell the seemingly cursed resort. Hailed by many local residents
as a hero for purchasing the perpetually stalled resort project for
a cool $43 million and promising to fix it up, Warner decided to
sell the property after less than two years of ownership. He cited
difficulties in trying to renovate and develop some of his other
holdings in the area, such as the Coral Casino and a large parcel
on Channel Drive near Butterfly Beach.

They may not play jazz or serve drinks and egg rolls, but
representatives of the Santa Barbara Trust for Historic
Preservation are in negotiations to purchase the recently closed
Jimmy’s Oriental Gardens restaurant on East Canon Perdido Street.
Looking someday to turn the property into a museum that celebrates
the storied Chinese heritage of the area, the Trust expects to open
escrow within a matter of weeks in a deal that would trade $3.1
million for the property.

Citing general plan and view zone ordinance incongruities, the
Gaviota Coast Conservancy filed an appeal against the County
Planning Commission’s recent conceptual approval of a large-scale
luxury home proposed for the Ballantyne property. Located near
Farren Road, the project calls for the construction of a
10,000-cubic-yard earthen berm on the 17-acre parcel that would
block portions of the 9,300-square-foot house from public view. The
17-page appeal suggests that the unconventional use of such a berm
conflicts with county policy requiring that structures be modified
to meet view code and not the land itself.