A series of recurring periodic articles:
Having grown up and lived here in Los Angeles; actually I am from three generations of a Westside family whose principle businesses include motion pictures and real estate development. The Warner Center came as a result of a vision my great uncle, Harry Warner, had in the mid 40’s of creating a city center to live, work and enjoy dining, shopping and entertainment. Not so novel today when you look at Century City and other city hubs, however then from the studio owned land and the cash business of producing movies, the idea and land use grew in popularity. My first job was in title, Charter Title, and I can remember going out to Ventura Blvd and Topanga when the 101 freeway had not been built and extended yet to Woodland Hills. My Grandfather, Sam, who died the night before his movie and first “talkie”, The Jazz Singer, premiered in New York read review. It was suppose to premier in Los Angeles at the Warner Theater he almost finished on Wilcox and Hollywood. When is was finally complete and ready to exhibit movies, legend says, Sam Warner’s ghost still lives there.
So I have witnessed many real estate cycles and migration patterns in our city. Flat, depressed, undeveloped or overlooked areas that suddenly turn into favor and values begin to soar. There are the upper end areas today like Beverly Hills’ Trousdale Estates, where the unparalleled views, classic mid-century moderns (the best examples in Los Angeles) uber urban centric, and inventive, inspired architects and celebrity names have recently seen values go through the roof. A recent sale off market saw Idol maker, Simon Cowell, pay over $11 million dollars for a home built by AEG honcho, Randy Phillips and purchased under $8 million. So you should know the whole Tishman tract was in answer to celebrities like Groucho Marks and Dinah Shore wanting to move from the flats to higher ground and drop dead Hollywood to the Ocean views.
So where are the new hot value Westside neighborhoods? … I will tell more in this series of periodic articles.