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MONTECITO, CALIF. — The Montecito Planning Commission, in a 4-1 vote, has approved Caruso Affiliated’s plan to develop a luxury hotel on the 16-acre site of the shuttered Miramar Hotel in Montecito. The 192-room hotel will feature three restaurants, a spa, a beach club, ballroom facilities and a beachfront boardwalk along Miramar Beach. Caruso plans to begin construction early next year with completion slated for spring 2011.