TWO NEW REDONDO BEACH HOTELS GET GO AHEAD

The property at Marine Avenue and 405 freeway has been vacant for years and is now destined to house two new hotels. Financing for the two projects was approved by the City Council and plans are now going forward. A Marriot Residence Inn and a Hilton Garden Inn have been approved for the vacant 5 acre site. Both buildings will be 4 stories and have around 320 rooms combined. The site is close to the Metro Green Line station and the two hotels will be the first new hotels built in Redondo Beach in several decades. The city of Redondo Beach is going to financially back the project which will cost approximately $60M to complete. The 5 acre parcel of land has been vacant for years since the Malibu Castle closed in 2005. It is anticipated that the project will produce $2M annually for the city coffers. Construction should start soon with an anticipated completion in Mid 2014.