Second Boutique Hotel to Open; Toyota Commits to Long Beach for the Long Term
- Sep 12, 2011
Following the Bel Air’s announcement of its reopening next month, another hotel project is set to open its doors: The Wilshire. The 74-room facility is aimed at both business and leisure travelers visiting the surrounding area, according to reports in the Los Angeles Times.
Developed by OSM Investment Co. – a company that’s no stranger to the sector, also owning the Elan Hotel on Beverly Boulevard – the Killefer Flammang Architects-designed hotel is managed by Greystone Hotels. Here’s hoping that the market in L.A. won’t miss out on the Californian hotel boom, something some parts of San Francisco have been faulted for recently.
Down in Long Beach, Toyota Motor Corp. signed a massive leasing deal that will keep the company in town for another – hopefully successful – 18 years. The lease is retroactive to Jan. 1, 2009, as reported by the Long Beach Post and has a total value of $240 million.
The area the company occupies covers 144 acres on the northern side of the port, in the vicinity of Pier B Street. From there, it ships more than 300,000 units every year, bearing the brand names Toyota, Scion and Lexus. Toyota’s history with the port dates back to 1981, when it signed its first lease. Twenty-five years later, it ended its last long-term lease, from then until now relying on interim leases.
The new lease carries several stipulations that will make the company change its ways and move on to “greener” pastures. Measures will have to be taken to improve the emissions the trucks that carry the cars produce, as well as improve the fuel quality used in the ships that haul the hybrids across the Pacific by 2014.