Report: Through the ZBA, iStar apparently got an extension for their variance.

istarwayfarerRe: iStar Wayfarer Superblock. 

Trying to find out more, but iStar apparently received a six month extension for their variance. Funding was apparently the reason why. This extension was given at the November ZBA meeting and will have to be approved again in April, if necessary.

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18 thoughts on “Report: Through the ZBA, iStar apparently got an extension for their variance.”

  1. probably not. Somebody out there can correct me on this, but usually with a project like this, there is a time frame of when work begins and when it’s complete. This gives them more time. Hopefully somebody with more knowledge will chime in 🙂

  2. when you get a variance there is a timeframe that is given on when the work needs to begin or the variance will lapse and you must reappear. Or you can apply for an extension and explain why you need it. In this case the extension was kept a secret and not even on the public schedule for the ZBA meeting in November and was done at the end of a long meeting to make sure none of us found out about it and showed up to contest it, as they knew we would given the angst against this project. The vote went same as last time, all in favor except Lomonte. Now, we all know they are not going to be able to start May so they will need another extension, so let’s make sure we all show up at that meeting, assuming they post the extensions this time. P.S. They are also talking to NC IDA about getting a 10-15 year abatement on their taxes!!!!!!!!! Yes, you read that right, they are claiming that even with the variance that was given, which was given because they claimed unless they got 512 units the project would not be economically viable. This is BS and we should be outraged! They are trying to double dip and again who is going to get screwed, us the tax payers. This is crony capitalism at its best.

  3. this should be a major red flag to an already horrible idea! i was at the meetings and they led everyone to believe that funding was already in place and that work would begin within 90 days of approval.

    Why are iStar and the city of LB determined to build something that nobody wants or is willing to fund???

  4. Maybe they don’t want to build. Maybe they just want to sell property with variance in place making it much more valuable same thing for a tax abatement

  5. This project is doomed from the start. They keep trying to make a silk purse out of Long Beach and while I wouldn’t call it a sow’s ear, this is a blue collar community and no amount of overpriced condos is going to make it more attractive to people with mega$$$$. No idea why the powers that be don’t get this…

  6. Meant to add, this project will be half finished when they run out of money and or nobody buys into it, won’t that look lovely on our beachfront along with the abandoned trailer serving as a homeless cat house between Lincoln and Monroe right on our beachfront property that was also supposed to be another apartment building way back when.

  7. How is work on the movie theater progressing? If I recall correctly that
    was part of what iStar promised in their proposal as an “amenity” for the community.

  8. If I remember the herald article correctly, they were busy planning to pick out chairs and crying poverty. I’m sure they will keep all their other promises though. Just like our current administration. I’ll post the herald link below.

  9. Coffee and in Person? Are you angling for another sit down with Jack? I would have thought he already had the update on this. 🙂

  10. Mandy, that article was from when the theater was owned by Phillip International, they owned the super-block and the movie theater. When they defaulted on their loans to iStar Financial and failed to pay LB taxes the properties were taken over by iStar Residential, a subsidiary of iStar Financial. As part of the tax settlement with LB iStar agreed to pay 5.someodd million to the city with was supposed to go toward LB infrastructure. It took decades of litigation to get to this point.
    I wonder if the settlement is contingent upon iStar actually building something. Does anyone know? Has the settlement money been payed?

  11. From the article: When city officials agreed in January to settle the city’s lawsuit against two developers, Philips International, which is owned by Pilevsky’s father, Philip, and iStar Financial, over the long-vacant Superblock property, the settlement included a commitment by Philips to reopen the theater. iStar and Philips are the current and former owners of the Superblock property, respectively, and iStar was given approval to build two new high-rise apartment buildings there.

    I attended all the iStar meetings and the reopening of the theater was certainly used as a selling point as was the brand new sewer line down riverside to park. I won’t hold my breath.

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