Preview: Hotel Quandry in Calabasas

Suspense is hanging over Calabasas – will it be a hotel or a self-storage facility that gets built on a vacant parcel of land off of Las Virgenes Road? Many hope it’s a hotel for the estimated $500,000 in bed tax revenue it would generate for the city, the business it will likely bring to nearby restaurants and the jobs it will create while adding only a little to the traffic on the already-busy street. But others believe a self-storage facility, while it would produce little tax revenue for the city, would add even fewer cars to the road. For now, the question is in the hands of Malibu developer Richard Weintraub, owner of the 4-acre site. Read the full story in the June 27 issue of the San Fernando Valley Business Journal.