Billionaire Real Estate Developer Threatens to Quit Carmel-by-the-Sea-5 Key Takeaways
Briefly

The JB Pastor mixed-use commercial and residential project in Carmel-by-the-Sea has encountered strong local opposition focused on parking and preservation concerns. The local planning commission approved the project unanimously, but the city council reached a stalemate because key issues remain unresolved. Billionaire developer Patrice Pastor, who has invested heavily in Carmel, is reconsidering his investments amid sustained opposition and project obstacles. Residents are split between supporters who cite the need for long-term rentals and affordable housing and opponents who worry about changes to the town's historic charm. High local housing prices, with a median above $2.4 million, intensify community tensions.
In the quaint coastal town of Carmel-by-the-Sea, California, a heated debate has emerged over a new mixed-use development known as the JB Pastor project. Despite unanimous approval from the local planning commission, concerns about parking and other issues have led to a stalemate at the city council level. The billionaire developer behind the project, Patrice Pastor, is considering reevaluating his investments in Carmel due to the ongoing opposition.
The JB Pastor project, a mixed-use commercial and residential development in Carmel-by-the-Sea, has faced opposition from a group of residents citing concerns over parking and other issues. The developer, billionaire Patrice Pastor, who has invested heavily in Carmel, is reconsidering his involvement in the community due to the obstacles faced by his projects. Local residents are divided over the developments, with some supporting the much-needed long-term rentals and affordable housing they would bring, while others fear the impact on the town's historic charm.
Read at SFGATE
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