Developer’s folly means more space at Griffith Park
Community group raised $500K in just 21 days to buy the 1.4-acre property
A 1.4-acre plot of undeveloped land next to Griffith Park once set for development has been purchased in a crowdfunding campaign for preservation.
The organizers behind the campaign managed to raise half a million dollars in 21 days to buy the two parcels, according to the Los Angeles Times. The parcels will be integrated into Griffith Park.
The story began last year when the two parcels hit the market asking $850,000. A developer had a deal in place to buy it earlier this year, but the coronavirus pandemic derailed the purchase and it fell apart in escrow.
Then, local residents Jason Greenwald and Corey Nickerson joined up with the organization Friends of Griffith Park to work out a deal to buy it. They had a contract in hand in late April to buy it for $500,000, but had agreed to get that money together within 21 days.
More than 100 contributions came in and they were able to close it last week. At least two donors contributed six figures to the campaign, but there were donations as small as $2 as well. They raised more than $500,000 and the extra funds will go toward maintenance.
The group handed over the property to the state’s Mountain Recreation and Conservation Authority, which will ensure its preservation. The property sits south of Bronson Canyon. [LAT] — Dennis Lynch