Santa Monica Property Blog

SHOULD LOS ANGELES SELL OFF LEGACY LIABILITIES?

June 3, 2009 on 10:47 pm | In Fascinating Information, Federal Government, Governor Arnold Schwarzenegger, Historic Properties, Landmarks, Of Local Importance, Problem, Problem Solving, Uncategorized, WOW, all |

By Jodi Summers

Welcome to the Breed St. Shul in Boyle Heights. From 1915 to 1951 it was the largest Jewish Orthodox synagogue in the western United States, and is listed in the National Register of Historic Places. In 2000, the City of Los Angeles quitclaimed the property to Breed Street Shul Project, Inc., a subsidiary of the Jewish Historical Society of Southern California. The Shul, like so many other National Register of Historic Places (NRHP) properties currently lies in neglect.

It is one of many NRHP properties caged behind fencing decaying around Los Angeles.

Engine House #18

Bravo to the Governor for the bold suggestion that the state sell off high maintenance legacy assets such as the Del Mar fairgrounds, the Los Angeles Coliseum and Alcatraz.

Perhaps Los Angeles County should consider selling off NRHP properties that have become legacy liabilities.

Washington Irving Branch Library

FYI - The City of LA currently has 195 properties on the National Register of Historic Places. Los Angeles County boasts another 148 properties.

Garfield Building

Too many of these noteworthy historic properties are sequestered behind chain link fences, decomposing from neglect.

Santa Fe Coast Lines Hospital

Wikipedia counts 2,414 National Register properties in the state of California. Do the math.

Angelus Funeral Home

Let us suggest that Los Angeles County sell off properties that have become, to paraphrase the governor, legacy liabilities. This would give them the opportunity truly become assets to our city and our community. In addition, to reclaiming these local treasures from the scrap heaps of history, freeing local government of the rehabilitation and maintenance responsibilities of these properties would ease the budget crunch.

This would give be giving the city / state short term assets in terms of sales, and long term assets in terms of taxes and community improvement.

Golden Gate Theater

Sources

http://online.wsj.com/article/SB124233275075820819.html

http://en.wikipedia.org/wiki/Breed_Street_Shul

http://en.wikipedia.org/wiki/National_Register_of_Historic_Places_listings_in_California

Angels Flight Railway

15 Comments »

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Comment by glitleclave — June 5, 2009 #
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Comment by Barb — June 5, 2009 #
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Comment by Phil Jefferson — June 7, 2009 #
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Comment by RV Kitchen Faucet — June 7, 2009 #
[...] government is getting into it. As you know, the state has been selling off their legacy assets - http://www.santamonicapropertyblog.com/?p=1188, and take a cursory glance @ what the U.S. government might be auctioning off in California, and we [...]

Pingback by Southern California Industrial Real Estate Blog » U2 CAN BUY COMMERCIAL PROPERTIES @ AUCTION — July 26, 2009 #
Every year, Money magazine rates America’s 100 best small towns to live. In the August 2009 issue, we were thrilled to see that 10 out of the 100 were
Main Street towns. This year’s list includes Liberty, Mo.; Suwanee, Ga.; Medina, Ohio; Rochester, Mich.; Mt. Airy, Md.; Batavia, Ill.; Simsbury, Conn.; Pewaukee, Wisc.; Emmaus, Penn.; and Concord, N.H.

Comment by Preservation Nation — August 11, 2009 #
In California, “Fantastic” State Parks News Doesn’t Hold Up to Scrutiny
by National Trust for Historic Preservation on

Last week, Governor Arnold Schwarzenegger issued a press release concerning the fate of California’s state parks. Judging by most of the media coverage that ensued, you’d think that parks advocates had scored a major victory.

Alas, what the Governor called “fantastic news for all Californians” turns out on closer reading to be just a fantasy

Comment by StephRoch — September 28, 2009 #
In California, “Fantastic” State Parks News Doesn’t Hold Up to Scrutiny
by National Trust for Historic Preservation

Last week, Governor Arnold Schwarzenegger issued a press release concerning the fate of California’s state parks. Judging by most of the media coverage that ensued, you’d think that parks advocates had scored a major victory.

Alas, what the Governor called “fantastic news for all Californians” turns out on closer reading to be just a fantasy

Comment by National Trust for Historic Preservation — September 28, 2009 #
SACRAMENTO-The State of California has officially gone to market with 11 office properties totaling 7.3 million square feet after disclosing in December that it would sell the office buildings on a sale-leaseback basis to raise funds to keep California’s government going. The California Department of General Services, which in December named CB Richard Ellis to market the properties, expects that the sales of the buildings will generate in excess of $2 billion in one-time revenue. Offers are due by April 14 on the portfolio, which is expected to draw interest from investors worldwide.

Comment by Bob Howard — March 2, 2010 #
CA Accepting Bids for Government Buildings

The state of California has begun accepting bids on a portfolio of 24 government office buildings. CB Richard Ellis has the listing, which has grown from the 17 buildings the state had planned to sell last year. Prospective buyers include former public officials who years ago advocated that the state construct and later sell the buildings to boost its revenues. Buyers can purchase the buildings, on 11 sites in Los Angeles, Sacramento, San Francisco, Oakland and Santa Rosa, individually or in bulk.

Comment by CRE News — March 15, 2010 #
Let’s go for a ride! Angel’s Flight has reopened for the first time in more than a decade!

Comment by Jodi Summers — March 15, 2010 #
Inaugural Los Angeles County Preservation Fund Awards Announced

The National Trust for Historic Preservation announced the first grant winners for the inaugural Los Angeles County Preservation Fund,
awarding money to twelve historic and culturally significant sites and programs across Los Angeles County.

Among the twelve winners of an inaugural Los Angeles County Preservation Fund grant are: the oldest handball court in East Los Angeles; a 1960s playground designed by Mexican-born Benjamin Dominguez, a survey of the Frederick Law Olmsted Jr. designed City of Torrance, and the two gateways of Los Angeles Chinatown. Click here to learn more about all twelve
projects.
http://blogs.nationaltrust.org/preservationnation/?p=8865&utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+Preservationnation+%28PreservationNation%29

Comment by PreservationNation — March 18, 2010 #
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