Los Angeles’ Trust for Public Land is celebrating its acquisition of a hilltop that will preserve the iconic Hollywood Sign. It also expands Griffith Park.
The anti-development, nature-preservation group closed escrow a couple of days ago, on December 7th. L.A. City Councilman Tom LaBonge says now the coveted view of the historic sign will be protected against developers.
“You know, they’re gonna build everywhere unless we protect and preserve. The Trust for Public Land is one of those organizations that protects and preserves. So, it’s very special and it connects all of the city from the San Fernando Valley and the Cahuenga Pass all the way over to the Mulholland Fountain.”
The price tag for the near 140-acre purchase was $12.5 million dollars. LaBonge says the money came from public and private funds, including major donations from Playboy founder Hugh Hefner and Aileen Getty.
Industrialist Howard Hughes originally purchased the land in 1940. His estate sold it to Chicago investors eight years ago. They were planning to build four luxury homes on the property.