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Marina Hotel Talks Approved

April 24, 1986

The county director of beaches and harbors has been authorized to enter final negotiations with MDP Ltd., on construction of a proposed 308-room luxury hotel in Marina del Rey and the extension of long-term leases for 600 existing residential units nearby.

The Board of Supervisors approved the nine-month negotiation period, which will give both sides time to agree on a complex arrangement that will extend by 39 years the company's leasehold on three residential towers, low-rise apartments, a club facility, boat slips and a restaurant.

The arrangement would allow the company to develop a luxury hotel on an adjacent parcel it leases from the county. County officials have estimated county income from the hotel and residential leases over the next 39 years at $1.4 billion.

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