'Save the Peak:' Deal In Place To Preserve Land Adjacent To Hollywood Sign
Associated Press is confirming a story we foreshadowed Monday: The nonprofit Trust for Public Land has secured an option to buy 138 acres of undeveloped land west of the Hollywood Sign for about $12 million.![]()
Trust president Will Rogers said the real estate meltdown has worked in its favor: The Chicago company that owns the parcel had put the land on the market two years ago for $22 million, but apparently didn't get any viable offers. The group hopes to raise the money -- it states it has half in hand -- and transfer the land to the city of Los Angeles so it can be incorporated into Griffith Park.
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