Small beach town launches incredible fight against Monaco's 'octopus billionaire' who bought $100M worth of homes and 'threatened to destroy their way of life'

Residents of an idyllic California coastal municipality person banded together to conflict disconnected a Monaco billionaire's attempts to reshape their community. 

Patrice Pastor, dubbed nan 'octopus billionaire' for his spot acquisitions, has been buying up existent property successful Carmel-by-the-Sea for 9 years. But now, nan municipality has had enough.

The billionaire's expansive plans for a 13,428-square-foot mixed-use improvement were unanimously changeable down by nan town's Planning Commission.

Planning Commissioner Robert Delves accused Pastor of showing 'no respect for nan neighbour down you' pinch his monolithic building plans.

The Monaco tycoon, who attended nan heated gathering via Zoom, was told to spell backmost to nan drafting committee - a first successful his nine-year spot buying spree successful Carmel.

Earlier this year, nan Monaco existent property titan bought up astatine slightest 15 iconic properties successful nan seaside colony of Carmel, leaving locals 'terrified they are handing complete our municipality to 1 personification who's doing what he wants to do.'

Long-time resident Kristi Reimers, whose family location would beryllium overshadowed by Pastor's latest project, told SFGate: 'Ever since nan flagging went up past week, I person felt unthinkable worry and, to beryllium honest, condolences astatine nan conception of having nan location I've lived successful for almost 2 decades move into a cave.'

'This task arsenic it stands will origin a important adverse alteration successful 2 historical resources: 1 existent and 1 eligible,' she added.

'Because 2 of nan 3 tons are deemed historic, additionally, this needs to beryllium reviewed successful nan discourse of nan Reimers' Stonehouse Terrace.'

His $7.5million acquisition of nan La Rambla building earlier this twelvemonth was 1 successful nan bid of deals landed by nan 51-year-old since he and his institution Esperanza Carmel group their sights connected nan colony 10 years ago.

Police were called aft a fist-fight collapsed retired betwixt a mini business proprietor and a colony administrator successful October aft Pastor demanded support to override readying laws truthful he could move a historical wall.

And locals fearfulness that soaring prices will thrust them retired of a colony wherever nan organization has already fallen from 3,700 to 3,200 since 2010.

'What's going to hap arsenic he spends truthful overmuch money connected nan building, nan spot taxation goes up and nan rents spell up and nan only group who tin spend it are concatenation stores?' 1 business proprietor told SFGATE astatine nan time. 

'What's going to hap to our mom-and-pop shops? What's going to hap to our section feel?' 

Pastor's narration pinch nan municipality worsened further aft he made a arguable connection successful March, threatening to support a historical location 'only to proceed to fuss those suspicious group who will ne'er person entree to it.'

Pastor who is simply a fourth-generation spot magnate is notorious for his feud pinch Monaco's crown prince which has been raging since 2021.

In 2021, an email from Prince Albert II's property advisor to 1 of nan Prince's adjacent friends was shared connected an anonymous website, LesDossiersDuRocher.com, which published incriminating grounds astir Monaco's royal family.

The email said: 'That octopus Pastor is everywhere! He has gotten his hooks into Monaco. He has gone mad, he has nary limits!'    

Le Monde reported astatine nan time: 'This expected 'octopus' appears to beryllium multi-billionaire Patrice Pastor, a 49-year-old who for decades constructed and rented buildings and apartments for mini fortunes.

'Proud and pinch nary frills, he is an unmistakable characteristic successful Monaco. 'I'm not a bully guy,' he said. 'I'm free, independent and I person money, so... Everything successful nan 'Dossiers du Rocher' is true, and everyone knows it! The truth is that I irritate them.'' 

But immoderate supporters pass of imaginable lawsuits if Pastor's task is treated otherwise from others successful town.

'... I'm hoping that there's not a determination that this peculiar task requires an EIR erstwhile nan Hofsas House does not because that is called favoritism and would beryllium grounds for a lawsuit,' Karyl Hall, who supports nan task told SFGate.

But Carmel residents are opinionated patient successful their conflict to sphere their town's unsocial characteristic against nan billionaire's heavy pockets.

'There's a finite number of parking spaces successful town, and if we support crowding up this municipality and buying our measurement retired of parking spaces, it's really not going to beryllium nosy to unrecorded present overmuch anymore,' Carmel restaurateur Rich Pèpe told nan outlet.