The world famous HOLLYWOOD sign, which was created in 1923 to promote a housing development, is being covered by protestors with lettering that will read “Save the Peak.”
The conservation group, the Trust For Public Lands, was given permission to change the sign as part of the campaign to save a nearby hilltop, Cahuenga Peak, from – ironically – a housing development.
The group has reached a deal to purchase the property and has raised about half of the $12 million needed to protect the land from being developed into luxury home sites.
Industrialist Howard Hughes purchased the property in 1940 with the intention of building a home for movie star Ginger Rogers. Hughes kept the land after their relationship ended and it was sold by his estate in 2002 to a Chicago-based investment group.
The land, which is zoned for four luxury mansions, was put on the market two years ago for $22 million.
Trust for Public Lands spokesman, Tim Ahern, said the sign will remain covered until Tuesday. The option to purchase the 138-acre tract expires in mid-April.
If the group succeeds in purchasing Cahuenga Peak they intend to transfer the property to the city of Los Angeles so it can be added to the adjacent 4,200-acre Griffith Park.