historical preservation — VOICES for REASON

Every once in a while, the news contains a little gem that illustrates how peacefully and rationally people can get along when they respect each other’s property rights.

Here’s the background: A real estate developer in California had been making plans to erect houses on Cahuenga Peak, the barren hillside where the famous “HOLLYWOOD” sign was erected back in 1923 (ironically, to advertise a real estate development). The sign, of course, is a cultural icon, evoking the sunny and glamorous city where the film industry flourished. “The Hollywood sign represents the dreams of millions,” said Playboy magazine founder Hugh Hefner. “It’s a symbol. It is as the Eiffel Tower is to Paris. It represents the movies.”

Historical preservationists knew that the planned housing would spoil the wilderness setting that has long been part of the Hollywood sign’s appeal. But instead of demanding that a government agency block the development, the sign’s fans raised money privately and bought the surrounding land, all 138 acres of it, from the developer. It cost them a bundle: $12.5 million. But it was worth it to the donors—including Hefner, who gave the last $900,000 needed to push the fund-raising over the top. And the developer’s property rights were not violated in the process. Read the rest of this entry »