Terranea's opening didn't come easy. After ten years of planning, developer Lowe Enterprises ran into financial problems and got the help of a Rancho Palos Verdes city loan, worth more than $8 million. The loan is due to be repaid by 2013.
The opening comes as another Southern California luxury resort, The Saint Regis Monarch Beach in Dana Point, faces a foreclosure auction. Its owners are in default of a $70 million loan.
Terranea will have its grand opening in late June.
Guests can enjoy eight restaurants, three swimming pools, a golf course, and a state of the art spa and fitness center. The resort also houses an 18,000-square foot ballroom.
Early bookers may get discounts up to 50 percent.
The Associated Press contributed to this report.
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