In 2008, investors in Fox River Financial Resources put a 138-acre plot of land adjacent to the Hollywood Sign on Cahuenga Peak in Los Angeles up for sale for $22 million. Once owned by mogul Howard Hughes, the land is not encumbered by any building restrictions and includes the right-of-way for road construction to a potential future mountaintop mansion.
Los Angeles preservation groups are encouraging the city to purchase the land for use as a park. If the city cannot afford the price, some are encouraging celebrities to foot the bill.
Fast Facts:
- Fox River Financial Resources bought land from Hughes' estate in 2002 for $1.6 million
- Sign originally read "Hollywoodland"Holloywood Sign: The History of the sign
- Sign was originally advertisement for housing development in area
- It was rumored that Hughes wanted to build mansion on peak where he would live with Ginger Rogers
- Many want peak protected and want parcel bought by city
- City not allowed to spend more than $6 million appraisal value for land
- Made of wood and sheet metal
- Size: 45' high; about 200' long
- 1976, pranksters altered the sign to read "HALLOWEED"Holloywood Sign: The History of the sign
- The sign was the site of the West Coast highest-profile Y2K celebrationHolloywood Sign: The History of the sign
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Would you donate money to save the famous Hollywood sign?(2 Answers)
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Personally I wouldnt. IF I had money to donate I could think of alot better organizations or charities to donate it to.
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