There Goes the Neighborhood: Billionaire Raises Ire with Plan to Anchor Yacht Off Lido Island

Rick-Caruso_Invictus_happy-property.net.jpg
Happy-property.net
A Los Angeles developer and the residents of condos overlooking Newport Bay are at war over something one media source likened to an Arrested Development plot line.

At issue is Rick Caruso's 216-foot private yacht Invictus, which the Newport Beach Harbor Commission approved for anchorage in Newport Bay, much to the chagrin of residents who say the tub and its fumes, noise and bright lights will destroy their views and lifestyles.

Caruso--whose $2.5 billion makes him one of the richest men in LA, whose Caruso Affiliated is one of the largest privately held real estate companies in the U.S. and who owns The Grove at Farmers Market in LA, the Americana at Brand in Glendale, The Commons at Calabasas, The Promenade at Westlake, and the Marina Waterside--wants to host "a small wedding" aboard Invictus this fall, when it will be anchored off Lido Island for 16 days.

Sheesh, there goes the neighborhood!

It would actually be allowed under a pilot project for mega-yachts that the harbor commission is giving a spin, reports City News Service, which picked the item up from the Daily Pilot and attached the Arrested Development line.

The commission believes allowing such yachts might spur other millionaires and billionaires to frequent Newport's harbor. That's what residents Pamela Whitesides and Judy Cole reportedly fear--with all the associated pollution the fat cats will bring.

As Barry Zuckerhorn would say, "Take to the sea!"

Email: mcoker@ocweekly.com. Twitter: @MatthewTCoker. Follow OC Weekly on Twitter @ocweekly or on Facebook!


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4 comments
DaniGirl949
DaniGirl949

Was in the water this weekend, and saw this monste, it's really amazingly beautiful, yet looks like a floating hotel! I saw bring more to NB!

davidbdavey
davidbdavey

Oh No! The millionaires are are going to be squeezed out by the billionaires... Now they know how it feels.

JBinOC
JBinOC topcommenter

Is he calling his newest endeavor The Yacht at Newport Bay 


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