Billionaire Patrice Pastor's Real Estate Acquisitions in Carmel Stir Community Concern

Patrice Pastor's purchase of historic properties in Carmel, Calif., has sparked fears of rising property taxes and the loss of the town's charm among locals.

• Monaco billionaire Patrice Pastor has acquired at least 15 properties in Carmel, Calif., including the historic La Rambla building, raising concerns among residents.
• Locals fear Pastor's real estate spree could lead to increased property taxes and rents, potentially displacing long-standing businesses and altering the town's character.
• Pastor insists his investments aim to preserve Carmel's unique history and character, emphasizing his love for the town and desire to protect its charm.
• An anonymous Carmel businessman expressed that the community feels 'terrified' by Pastor's growing influence, fearing a loss of control over their town.
• Real estate agent Tim Allen defends Pastor's actions, arguing that his investments are beneficial for the community and will contribute to its long-term prosperity.

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