West Hollywood, California (March 8, 2010) – The Sunset/Doheny Hotel project went through a second hearing to discuss design changes suggested by West Hollywood City Council, but could not gain final approval. 
9040 Sunset Hotel project. Rendering courtesy Eric Owen Moss Architects. WeHo News. |
The eleven (11) story building containing 268,805 gross square feet of mixed uses; including 148 hotel rooms, 20 condominium units, and approximately 37,940 square feet of retail, restaurant, conference rooms and spas ran aground on Mayor Pro Tem John Heilman’s revelations that Weintraub Financial Services partner in the project is under investigation for fraud and currently going through bankruptcy.
Mr. Weintraub’s partner in the Sunset Doheny Hotel project at 9400 Sunset Boulevard is Ezri Namvar , who stands accused of running a Ponzi scheme.
Mr. Namvar and his Namco Financial Exchange Corp. face at least five Los Angeles Superior Court lawsuits and one bankruptcy lawsuit.
Mr. Heilman castigated city staff for not researching the finances of the developer, saying, “I think we need to know who we’re getting in bed with before entering into this agreement.”
Rendering courtesy Eric Owen Moss Architects. WeHo News. |
Richard Weintraub explained that the Namvar estate is a silent partner in the hotel project, that he controls the firm as managing partner and that bankruptcy proceedings would have no impact on the project’s development.
Mr. Weintraub presented the handful of design changes asked for by council, most made to the council’s satisfaction, gaining promises of a vote from the majority of the council.
Doubt over what potential financial monkey wrench might find its way into the works kept the council from approving the project last week, however, so a staff report on the ownership of the development company can be compiled.
The item returns to council on March 15.
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