Glendale’s Golden Key Hotel will close at the end of the year, paving the way for developer Rick Caruso to expand his Americana at Brand, representatives for both properties confirmed Tuesday.
The announcement came nearly two weeks after attorneys for Caruso and hotel owner Ray Patel told a Los Angeles County Superior Court judge that both sides had reached an acquisition deal. Neither side has commented on the price. The attorneys also told the judge they had reached a $500,000-settlement for the lawsuit Patel filed against Caruso and the city of Glendale three years ago claiming Americana construction hurt his business.
Caruso has said he plans to spend upwards of $40 million on the addition of up to 140,000 square feet of new retail space to a mall that already has 75 shops and restaurants, an 18-screen theater, apartments and condominiums.
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