Billionaire Steven Udvar-Hazy has given up plans to build a resort in Laguna
Beach and plans to sell three properties there, including gay bar the Boom Boom Room.
His plans for a boutique hotel were met with protests from gays who staged a campaign to save the Boom Boom Room.
It’s unclear why Udvar-Hazy is giving up his plans and selling the properties.
“Save The Boom” organizer Fred Karger said he’s been busy since last May with a bid to influence Udvar-Hazy to preserve the gay icon.
For the past two months, Karger said he has sought to find potential buyers to approach Udvar-Hazy about selling.
“We’re going to re-triple our efforts now,” Karger said.
The Coast Inn, which houses the Boom Boom Room, a liquor store and gay boutique, Gay-Mart, are up for sale for about $20 million, according to The Laguna Beach Independent.
Udvar-Hazy bought the buildings plus an adjacent house for about $25 million in 2005.
The ocean front home isn’t up for sale.
Udvar-Hazy made a fortune in aircraft leasing. He lives in Beverly Hills with a second home in Monarch Beach.
