VENTURA : Port Officials Shelve Canadian Hotel Plan
The Ventura Port District has decided not to renew a Canadian company’s option to develop a 400-room hotel because the company failed to make a $125,000 payment by the June 20 deadline.
Cavendish Resorts has held an option since 1987 to develop the 20-acre site--the largest remaining piece of undeveloped property within the port of Ventura.
In a letter received last week by the district, the company cited economic concerns and the city’s moratorium on new water hookups as reasons for its failure to make the payment.
The district is free to consider proposals from other developers, although it will not actively seek them, said Richard Hambleton Jr., chairman of the district board of commissioners. “The board is hopeful that Cavendish can and will present another plan,” Hambleton said.
The company has invested more than $2 million in the project, Hambleton said.
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