John D’Amico: Faring Capital Cannot Be Trusted

Jason Illoulian’s Faring Capital threw in the towel on Robertson Lane. Cranes razed the property and the developer will now present a new plan to City Hall in the coming months. Seven years down the drain. 

The development was first approved on June 5, 2018, in a 4-1 vote, as detailed in WEHOonline’s coverage, WeHo City Council gives final approval to Robertson Lane project.  Councilmember John Heilman called it an “exceptional design” and praised it for enhancing an area he said was underutilized. Councilmembers Horvath, D’Amico and Duran joined Heilman in approving the project.  Councilmember Lauren Meister cast the lone no vote.

At the time of approval, Faring CEO Jason Illoulian said in a statement, “Our iconic hotel and park-like pedestrian paseo will dramatically transform the neighborhood.”

Faring then went to the Planning Commission in August 2019, asking for revisions to the project to incorporate an additional two parcels to the south into the much-hyped Robertson Lane project. The revisions were approved unanimously, as reported in Planning Commission approves revisions to Robertson Lane project.

The drama continued into February 2020, when Faring, unable to secure financing for the project, sought new loans, as detailed in Faring seeks $375.2 million in financing for its Robertson Lane project.

In August 2022, Faring returned to the City Council, asking for a revision to the Robertson Lane specific plan to annex the Treehouse project, a move covered in ‘Inviting a casino to town’: Robertson Lane projects move forward under heavy scrutiny. The City Council split 3-2 on that decision, with Councilmembers Heilman, Duran and Horvath voting yes. In this round, Councilmember D’Amico joined Councilmember Meister in voting against the approval. In casting his no vote, D’Amico likened the situation to “inviting a casino to town.”

In September 2022, Faring sold the street corner for an illegal mural for the Lindsey Horvath for county supervisor campaign, a move that led to a code case detailed in Lindsey Horvath mural slapped with code violation. The mural, in support of Lindsey Horvath for county supervisor, drew tremendous criticism and was further chronicled in Lindsey mural is gone or is it?. At the time, former Councilmember John D’Amico described the mural, paid for by a PAC supporting Horvath’s run for county supervisor, as “bone-headed,” and assailed Faring for its handling of the situation.

“That is the most blatant, impossible-to-understand move that I have seen in my many years of being involved with this city,” D’Amico said.

In October 2024, Faring Vice President Jake Stevens petitioned the Planning Commission for additional time to secure financing, and another extension was granted.

Former Councilmember D’Amico took to social media this past week to express his frustration with Faring Capital “Faring Capital cannot be trusted.  This developer has not shown that they can be trusted with a development entitlement. I caution the City Council to move forward carefully, demanding a bond be in place so that if their new project is not completed on time the developer shall pay a yearly fee of no less than $1,000,000 (1 million dollars). Anything less is a misuse of the public trust.”

In 2018, Faring VP Jake Stevens nominated Robertson Lane for the inaugural Green City Awards presented by the Public Facilities Commission. Stevens pressured commissioners for their vote and had to be reprimanded. Despite the fact that Robertson Lane had yet to break ground, Stevens argued for the project. The commission split and then forced the creation of a “new green city seedling award” in support of projects that had yet to break ground. The following year, with few applicants under the expanded criteria, the Public Facilities Commission voted to disband the Green City Awards entirely.

Robertson Lane was also the recipient of the first Ed Levin Award, given by the West Hollywood Chamber of Commerce, as covered in Inaugural Edward Levin award to be presented to Jason Iloulian. Many in the audience questioned the choice, knowing Levin would be rolling around in his grave. But  Jason Illoulian, CEO of Faring proudly accepted the award with no real plans to break ground on Robertson Lane.

Faring Capital is also the developer behind the stalled French Market project.

In January 2016, Faring presented its first ideas for the site at a community meeting covered in Plans for WeHo’s French Market Property Will Be Unveiled on Jan. 13. In 2019, the West Hollywood City Council approved final plans for the redevelopment, as reported when the French Market project received final approval.

In 2022, Faring held a groundbreaking ceremony for the new French Market. The publicity stunt included all five City Council members with shovels and was reported in French Market breaks ground today. In February 2024, Stevens told WEHOonline that “The French Market will soon be returned to West Hollywood as a dynamic restaurant concept,” in French Market re-opening is still happening, Faring says. Almost two years later, the French Market still sits empty.

Faring Capital has been responsible for destroying two iconic LGBTQ cultural landmarks in the heart of West Hollywood. Faring evicted all the tenants and left the businesses that served our community vacant, creating blight in the heart of our community for a decade.  Millions of dollars of tax revenue for the cty from these prime parcels lost.   All the smoke and mirrors around preserving that history are no longer believable. Former Councilmember John D’Amico is correct, Faring’s word cannot be trusted.