‘Hollywood Revitalization’
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I just read your article on the redevelopment of Hollywood (“In Defense of Hollywood Revitalization,” by Harold L. Katz and Mark E. Ryavec, Op-Ed, Jan. 4). During the 1950s and 1960s I owned property in the 6600 block on Hollywood Boulevard. There were three retail stores in the building.
When I first took over, it took one month’s rent to pay taxes, insurance and maintenance. When I sold it in 1969 it took six months’ rent to do those things.
The reason? Simple--no parking anywhere close to the stores. All the better retail establishments moved to malls with large parking lots. Any attempt to rebuild or refurbish existing retail outlets is doomed to failure unless adequate parking facilities for Hollywood Boulevard and side streets are provided. I know--I lost enough money to force me to sell out for peanuts.
E. M. FINAN
Seal Beach
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