Monaco Billionaire Developer Plans to Exit Carmel-by-the-Sea Amid Community Tensions

1 min read
Source: Los Angeles Times
Monaco Billionaire Developer Plans to Exit Carmel-by-the-Sea Amid Community Tensions
Photo: Los Angeles Times
TL;DR

Monaco billionaire Patrice Pastor is leaving Carmel-by-the-Sea after facing prolonged delays and opposition to his development projects, which he attributes to local resistance and regulatory hurdles, despite his significant property investments and efforts to preserve the town's character.

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