Caruso vs. Patel: Competing Plans for Americana at Brand
Ray Patel wants to hold on to his Golden Key Hotel. Rick Caruso wants to buy the land, raze the hotel and erect an Americana at Brand expansion in its place. Patel refused Caruso's $6M offer to buy the property and was given a 45-day deadline by Glendale City Council to revamp it or sell it to Caruso. The plans are in and a hearing will usher in the next stage of the showdown, according to 818 Now.
Patel's rendering for his revamped Golden Key Hotel shows modest updates to the property and would likely be a welcome upgrade on any other street corner in many parts of Los Angeles. Yet when considered alongside Rick Caruso's rendering replete with existing cafés, restaurants, bookstores, outdoor seating and upper-level apartments that would flank the new property, an apples-to-apples assessment is hardly fair. It makes this whole thing look like David vs. Goliath.
The City Council has already endorsed Caruso's expansion plans, which will include a $40 million dollar renovation for three new retailers, the widening of Colorado Street and "pedestrian-friendly landscaping," so the battle of the plans seems like an ill-fated exercise for Patel. Curbed LA estimates that compared to Caruso's $40 million plans, Patel's will come in at roughly $3 million.
A hearing on the competing proposals is expected to take place in February.