Bridgette Meinhold

Hollywood Sign Site Saved By Hugh Hefner & Generous Donations

by , 04/27/10

sustainable development, development, eco design, green design, hollywood, hollywood sign, cahuenga peak, hugh hefner, land preservation, preservation, trust for public land, public land, luxury homes, Los Angeles, LAPhoto credit: brunosan

These last couple of months have been touch-and-go for the site of the iconic Hollywood Sign in Los Angeles, but now thanks to a generous donation from Hugh Hefner, the site has been saved! The Hollywood Sign sits on an area of 138 acres on Cahuenga Peak, and while the sign was protected as a landmark, the property was up for sale — a development company had slated the land for five luxury home sites that ran $40 million bucks a pop! Luckily however, people from around the world, plus some famous celebs kicked in enough dough to buy the property and preserve it forever.

sustainable development, development, eco design, green design, hollywood, hollywood sign, cahuenga peak, hugh hefner, land preservation, preservation, trust for public land, public land, luxury homes, Los Angeles, LAPhoto credit: jjwright85

Fox River Financial Resources Inc. bought the land back in 2002 at a low price from the Howard Hughes Estate (who originally wanted to build a love nest for Ginger Rogers on the site.) The development company was planning on selling the land off in parcels for multi-million dollar homes, and when the city found out about it, people were outraged. A campaign ensued to raise $12.5 million to buy the land for public use and preservation.

The State anted up $5.7 million from state and local funds earmarked for park land acquisition, while Tiffany & Co. Foundation and Aileen Getty donated $1 million each. Another $3.2 million came from Hollywood A-listers, and about $200,000 came from online donations from people around the world, partially through a strong Facebook campaign to save Cahuenga Peak. The Trust for Public Land, who was organizing the drive, was short about $1 million dollars. Hefner, who had helped save the sign back in 1978, stepped up to the plate and donated $900,000, and with the help of an additional $500,000 from Tiffany & Co and Aileen Getty, there was enough money to buy the site. Now the 138 acres will become part of the existing Griffith Park, which surrounds the Hollywood sign.

Now the site will remain in preserved for public use forever. It will remain unmarred with houses and development and be open to public use. More important, big developers were stopped from ruining a natural site. This is a big win for LA!

+ Hollywood Sign

Via LATimes

Photo credits: zaui, brunosan, jjwright85

Related Posts

LEAVE A COMMENT

or your inhabitat account below

Let's make sure you're a real person:


1 Comment

  1. MimiGonzalesMayfairRuiz April 30, 2010 at 9:21 am

    Nice to know that not everything is being devoured by real estate agencies, especially this iconic sign. Hollywood Forever!

  • Read Inhabitat

  • Search Categories

  • Recent Posts

  • Recent Comments

  • Browse by Keyword

get the free Inhabitat newsletter

Submit this form
popular today
all time
most commented
more popular stories >
more popular stories >
more popular stories >
What are you looking for? (Solar, HVAC, etc.)
Where are you located?