2/09/2010 7:45 PM ET |
Filed under: Etc.
A nature conservation group announced yesterday that they were able to reach a deal to purchase 138-acres of land known as Cahuenga Peak near the Hollywood sign and save it from being developed in luxury homes.
The group, The Trust For Public Land, secured an option for the land for about $12 million from Chicago's Fox River Financial Resources. The conservationists have been able to raise about $6 million thus far, but they are hoping to raise the rest before the option expires in mid-April. If they are able to do so, the group will then transfer the land to the city of Los Angeles to be incorporated into Griffith Park.
Here's hoping you guys can get the $$$ needed. That's just what El Lay needs - more luxury homes no one can afford.
Seriously, aren't we still in a real estate crisis?
[Image via AP Images.]