An investment group that owns the land next to Hollywood sign put it on sale for $22 million. This land was first bought by Howard Hughes in 1940, and in 2002 the above mentioned investment group bought it with $1.7 million.
People are afraid that on that land mansions will rise-up that will make the sign not so visible as it is now, and that people that go for a walk there to have a panoramic view of LA basin will not be allowed in the future to do that.
The problem is that the city can’t pay more than $6 million on that land, and they are thinking about asking help from the celebrities to keep that spot untouched.
Source:
http://ap.google.com/article/ALeqM5je876f_LcmMkE-myEbsxdI22jEEAD903JCNG0
It will be probably a great loss for Hollywood, the sign it’s a symbol, we all know it like it is. Hope they’ll manage to keep in this way.
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Land next to Hollywood sign for sale
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