William Jerome Levy
William Jerome Levy, affectionately known to his friends and family as “Billy,” passed away on February 24, 2024, in Santa Barbara, California. Born in Chicago, Illinois on August 16, 1947 to Elizabeth (Clausen) Levy and Jerome William Levy, Bill shared the past 34 years with his loving, devoted wife, Laura (Sanchez) Levy. Together, they built a strong, supportive family, cherished friendships across the country, and gave back to the local Santa Barbara community.
Bill and Laura surrounded themselves with the people they loved. They adventured, played, and explored the world together, but Bill would always say you won’t find a more beautiful place than Santa Barbara. Bill and Laura were committed to Santa Barbara and donated their time, energy and funds towards charitable groups which benefited children, animals and helped beautify Santa Barbara as we know it.
Bill’s career was marked by his 47 years of expertise in commercial real estate investments and finance. He has directed, entitled, and financed more than $10 billion of multi-family and commercial real estate throughout the United States. Bill worked in every facet of the industry, including syndication, construction and development, entitlements and real estate lending and investment funds. He was the founder and CEO of County Savings Bank with assets exceeding $1 billion and co-founded American Restaurants Inc. which owned and operated numerous dinner house concepts and several hundred fast food service restaurants. He and his partners played an integral role in the rejuvenation of the downtown corridor. It started with the acquisition and consolidation of several State Street businesses and the construction of the Picadilly Square Mall which later was consolidated into what is now Paseo Nuevo.
One of Bill’s most well-known projects was “Las Entradas” now called “The California Hotel.” It took 10 years to obtain zoning entitlements, working with the City of Santa Barbara and the Coastal Commission for permission to construct the hotel. But Bill’s brilliant investing could not overcome the national banking industry collapse of 2008. The mortgage lenders pulled their commitment to fund this beautiful project, and it went into foreclosure. The financial storm led to a corporate bankruptcy, but Bill stood tall and never filed bankruptcy himself. As nice as Bill was, you never wanted to get into a battle with him, especially when it came to real estate. He was tough, shrewd and knew how to play the game. Nobody fought better, and Bill was masterful at getting what he wanted. But the loss of “Las Entradas” deeply hurt him, and it took him years to bounce back.
Bill graduated from San Marcos High School in 1965 where he was recognized as an outstanding golfer and inducted into the Santa Barbara Roundtable Athletic Hall of Fame in 1994. He continued as a scratch golfer hitting the links and enjoying a beer with his friend, Buddy Allin.
Bill loved music and was proud of his rock and roll days in the 1970s when he and his buddy formed a rock band called Kaleidoscope. Bill sang and played bass guitar. They wrote some of the popular songs of the day in the 1960s and then sold them to the performers who made them famous.
Bill graduated from Santa Barbara City College, then attended UCLA’s Business & Finance Graduate Program. In recognition of his civic contributions, the Santa Barbara Chamber of Commerce twice awarded him “Business Leader of the Year.” He also was voted Santa Barbara’s “Most Influential Businessperson” and further recognized for the betterment of Santa Barbara’s Central Business District, receiving the “President’s Cup” for the National Cities Award.
Bill treated everyone who worked with him with compassion and respect. He was fortunate to have a powerhouse of local business associates who also were his best friends. He had a special circle who called themselves “The Crandell Cronies” who met every Saturday morning to reminisce, laugh and tease each other.
Bill leaves behind his wife and the love of his life, Laura, his beloved daughter, Renee Levy, and the apple-of-his-eye, granddaughter Elizabeth Levy Hazelton.
Bill also is survived by his sister, Jill Levy, his sisters-in-law Sandra Landers, Shelly Law, and Leticia Sanchez; he was preceded in death by Laura’s mother, Angeles Perez, whom he loved as his own mother.
Billy Levy will forever be remembered as a loving husband, father, grandfather, brother, and friend. His warmth, wisdom, and his infectious laugh will be deeply missed by all who had the pleasure of knowing him.
A service to honor the life of William Jerome Levy will be held on March 13th, 11a.m. at the Old Mission of Santa Barbara, 2201 Laguna St, Santa Barbara, CA. Bill will be laid to rest in the Santa Barbara Cemetery in a private ceremony. An invitation only celebration of life will follow at Birnam Wood Country Club, 1947 E. Valley Road, Montecito.