Balboa Bay Club’s Lease Extended by City
The Balboa Bay Club has signed an agreement with the city to extend its lease by 50 years, club representatives said this week.
The extension becomes effective the day the expansive beachfront resort on city-owned land at 1221 W. Coast Highway embarks on more than $20 million in renovations, club spokesman David C. Wooten said.
That project, which is to include a 120-room hotel and new exercise facilities, should start within five years. The expansion project won California Coastal Commission approval in 1995.
Wooten said the original lease would have expired in 2011. The new terms allow the club to stay open until about 2050, he said.
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