Reznik appeared at Wednesday’s hearing to express concern that the 440 parking spaces planned for the new retail center are inadequate and will result in shoppers and restaurant patrons parking in hotel spaces. He also disclosed that he represents the landowners in an L.A. Superior Court lawsuit they have filed against Weintraub alleging that the developer did not obtain the necessary permits and approvals for the year-long hotel remodel last year.
The suit seeks termination of Weintraub’s long-term ground lease, Reznik said.
However, Weintraub’s attorney, Fred Gaines of Gaines & Stacey LLP of Encino, told the planning commission that the events center – which has hosted countless bar mitzvahs and wedding receptions over half a century – was not a viable business despite a minor remodel about eight years ago.
“Despite (Weintraub’s) efforts with the remodel, it just has not been successful enough to continue the operations there,” Gaines told the Business Journal on Thursday. “He is very pleased with the outcome of the planning commission vote and thinks this is going to be a tremendous asset for Studio City and the San Fernando Valley – a really spectacular upgrade for the facility.”
Weintraub hopes to begin work on the project by the end of this year. The retail space will be marketed to tenants in the casual dining space as well as to upscale national restaurant chains and boutique shops specializing in fashion and home goods, he said.