Hollywood for sale!

Residents of LA are angry about a real estate deal that threatens a piece of history...

Land around the world world-famous "Hollywood" sign has been put up for sale, and some fear the sign and the hillside on which it sits are threatened could be under threat from a real estate deal.

An investment group that owns 138 sage-covered acres above and to the left of the 45-foot-high, steel-and-concrete H put the land up for sale last month for $22 million.

Councilman Tom LaBonge commented: “Some Los Angeles residents are afraid mansions will be built there, spoiling the sign's uncluttered, postcard-perfect backdrop. They worry, too, that the land will no longer be accessible to the hikers, sightseers and romantics who often climb the hill for solitude and a panoramic view of the Los Angeles basin.

The fight for Cahuenga Peak

Residents led by a city councilman are fighting to preserve the parcel land for sale, which is known as Cahuenga Peak.

"LaBonge continued: “The sign is our Eiffel Tower. There is the Hollywood sign. There is the open space. And that's all there is. This is ours and it should remain ours."

“Ideally, I want the city - which owns the ground the sign stands on and the land on three sides of it, to acquire the land, but the city cannot legally pay more than $6 million, a price based on its most recent appraisal”.

Historian Marc Wanamaker, president of the preservation group Hollywood Heritage, commented: "It's true the Hollywood sign was originally a sign to help sell development, but by 1945 the City Council of Los Angeles had made it the official iconic sign of Los Angeles. It's just become part of the culture and landmark status of Los Angeles, extremely important."