City approves Monstad Pier lease deal
The Monstad Pier leaseholds will be sold to developer Leo Pustilnikov from the Trutanich family’s Redondo Fisherman’s Wharf Company. Easy Reader illustration/Google Maps The Monstad Pier, the historical southernmost timber portion of the Redondo Municipal Pier, will soon change hands owing to the approval to a lease modification and blessing of the deal by Redondo Beach City Council on Tuesday evening. The Monstad Pier will become the second piece of Redondo Beach property in the portfolio of developer Leo Pustilnikov, who is also negotiating to purchase the AES Redondo power plant for redevelopment. Officially, what’s changing hands is the 66-year master lease to the land at 110-151 Fisherman’s Wharf, which has been controlled by the Trutanich family, owners of South Bay landmark Tony’s on the Pier. The length of the lease has not been adjusted, and will end in 2034. Terms of the deal between Trutanich’s Redondo Fisherman’s Wharf Company and Pustilnikov’s Next Century Power have not been disclosed. During a March interview, Pustilnikov indicated that he had no immediate designs for the properties, save for an art show planned for October. “Until I actually have control, I don’t…
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