The Los Angeles Times from Los Angeles, California on September 10, 1967 · 128
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The Los Angeles Times from Los Angeles, California · 128

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Los Angeles, California
Issue Date:
Sunday, September 10, 1967
Page:
128
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2 SeC'J-SUN., SEPT. 10, 1967 ggg flltgtltfll 'gimeg ON THE LEVEL Business Hub Movinq West Realty Unit to Hear Talk on Railroad Thomas E. Hammill, manager of properties, Union Pacific Railroad Co., will be the guest speaker at the dinner meeting, Wednesday, of the Realtors Junior Committee of the Los Angeles Realty Board. His topic will be "How a Railroad Growk -Wider." The meeting will be held in the sion. real estate profes- In the Lafayette Room of the Sheraton-West. . The Realtors Junior Committee, members of the Los Angeles Realty Board, 39 years of age and younger, is a group formed to provide an education and social program for the younger members August High Noted Forest E. Olson, Inc., realtors, have announced an all-time high of 702. listings taken during August, according to Donald K. Olson, vice president and director of sales. f vWyl'lHifc BY DICK TURPIN x TimM Real Estate Mtor . The looking glass of city planners, dreamers, architects and financiers seems to indicate a continuing westward and southward movement for the business hub of Los Angeles. Elsewhere in this section, architect Charles Luckman predicts the evolution of a whole new business area in the vicinity of the planned convention and exhibit center at Pico Blvd. and Figueroa St That kind of development In the offing would follow the existing and marked trend away from the traditional Spring St. business heart of the city to Wilshlre Blvd., the main artery of new growth. Construction of the Occidental Center, the California Mart and the United California Bank Building are the few major, new downtown developments in recent years. Irene Westward Explained Architects Robert Langdon and Ernest Wilson, who in the past 10 years have designed 17 buildings on Wilshire Blvd. of which 10 are over eight stories in height, cite reasons for the trend westward. Footage in Los Angeles has become increasingly difficult to assemble into a suitable site for high-rise office buildings. Piecemeal acquisition i3 the order of the day, they contend, while on Wilshire, intact land parcels are larger and demolition problems are smaller. Cost of land in the central city is higher than that along Wilshire, with downtown land currently selling from $60 to $70 a square foot ($9,000 to $10,000 a frontage foot) compared with $27 to $30 a square foot ($4,000 to $4,500 a frontage foot) on Wilshire, the architects said. . .... "Land costs are obviously on the rise on Wilshire, the records indicating a $10 to $11 increase per square foot during the past five years. But the cost differential remains," they add. Lesser Assessed Valuation The lower. cost of Wilshire Blvd. land naturally Involves a lesser assessed valuation, hence , lower taxation, they said, and this inherent tax ' advantage invites corporate attention. The Langdon-Wilson thinking deems the central city as confined with little or no open space to offer in an area of long established urban density. On the other hand, the Wilshire sector has maintained its spaciousness, they point out. - "This is an appealing factor to the corporate body wanting to stretch its legs the western look." The trend to high-rise complexes and landscaped malls along Wilshire adds another incentive to the corporate move. The architect is challenged to exercise his art in providing a "people" environment for businesses seeking escape from the metropolitan confinement. Off-Street Parking Each new high-rise appearance on the Wilshire scene draws attention to the contrasting environments and gives impetus to the trend, they believe. Another factor is off-street parking. Buildings on Wilshire constructed during the last decade have been required to provide it in the ratio of one space for every 500 square feet of structure. Downtown, the ratio remains at one car space for every 1,000 square feet of building. In a car-oriented city, such advantages are obvious. The architects, looking ahead, predict that if a Wilshire rapid transit route is completed, population in business and adjacent multiple dwelling unit areas is certain to triple. This will inevitably draw additional, refined commercial activity. As the value of Wilshire area land increases, higher high-rise will follow but the already established pattern of landscaped plazas and air space between buildings should continue. Finally, the architects declare that Wilshire Blvd. has established an identity all its own and should be architecturally contrasted, not compared, with the world's historic thoroughfares. :They think the boulevard's identity or personality is bound to achieve much greater recognition. fc; Hipp JXumm....-- i fee;--' a L ' . I l'U":';';''' V LEASE SIGNED Mrs. Toni Liphort, Bullock's Realty Corp. employe, holds banner as Cyril Magnin, president of Joseph Magnin Co., San Francisco, center, and Mahlon Arnetr, president of Bullock's Realty, discuss lease signing by Mag-nin's for store space at Fashion Square, La Habra, 40-acre shopping complex. Appraisers to Hear State Controller Houston I. Flournoy, state controller, will discuss the "Probate Appraisal System inxCalifornia" at the September meeting of the Los Angeles chapter of the Society of Real Estate Appraisers, according to Richard B. Sullivan, president. The meeting will be held at 6:30 p.m. Tuesday, in the Chalon Mart, 1919 S. Broadway. Thomas E. O'Neil, chief appraiser for the Equitable Savings & Loan Assn., Van Nuys, will present the monthly brief report on "Cooperative Non-Profit Data Bank." Flournoy, who advocated abolition of the controversial appointive appraiser system during his election campaign in 1966, will be introduced by Charlie McNabb, vice president and program chairman. . Harrison J. Baker Jr., secretary-treasurer of the chapter, was recently appointed by Flournoy to the inheritance tax appraisal panel in Los Angeles County to serve the Pasadena court. Culver City Complex Sold for $416,000 .Sale of the Grecian .Gardens, a 44-apartment complex at 4550 Overland Ave., Culver City, has been announced by the Wagner Jacobson Co., Inc., apartment house brokers. Sales price was $416,-000. Joseph Magnin Joins Fashion Square Stores The Joseph Magnin Co., Inc., has become the third major v store to reserve space in the planned 40-store Bullock's Fashion Square in La Habra. The announcement was made jointly by Cyril Magnin, president of the Joseph Magnin firm of San Francisco, and Mahlon Arnett, president of Bullock's Realty Corp., which operates"three other such shopping centers. Lease-signing between the Magnin and realty firms was the first time the department chain had ever entered into such an agreement with Bullock's and th$ initial instance when the latter has invited a store' outside South- Mortgage Brokers to HearNeal The Mortgage Brokers Institute will hear Charles Neal, financial analyst, at their 7:30 p.m. Thursday dinner meeting at the Century Plaza. He will discuss recent trends in real estate financing and future market developments, according to B. J. Zimmerman, MB I president. Jefferson E. Peyser, the institute's legislative representative, will review the California Legislature's last session. iiliiiliuiliiiiiiiiniiiininiiiiiiiiM mmi nHiiuiiiiiHiiiMiMtiHUiiiiuiitiiititNkii)iiuuintii::iim iiiijMiKit nnnMttHnnmiMiitunninin!iHuitiinntinHi!rJ Unspoiled Beauty . . . Yet Close In! !, , Tiff t '1 hi k uJtl1 S H T !' ! I 1 1 i I 4- u i PlNECREST li o KSarr V , cooling mountain breezes ... high above the smog and fog . . . unmatched rustic setting Wake up to the sun in the crystal clear air of PlNECREST . . . away from it all amidst beautiful foothills . . . yet only minutes from downtown Los Angeles. Discover it all now at PlNECREST! COME INSPECT OUR NEW MODELS Open Daily 10-5 3 tJ 5 BEDROOMS 21 3 BATHS Customized 1570 to 2600 sq. ft. Homes. Large View Lots. Underground Utilities. priest from $35,950445,500 l llW II 10 l'4, U-jriir finmclni iPil WEBSTER WILEY CO., Glsndale 249-1131 10 MSr TO REACHi ( Mrtft n Vtrdugt M. ill tlllilll t U Criscinta ., thin Mrtk M FMt-kill llvd. ti Pinicmt mtMu ' em California to become a major tenant in one of its shopping complexes. The Joseph Magnin store, Bullock's and Buf-fums' will serve a3 "anchor" stores at the 40-acre Fashion Square now under construction at Imperial and Beach Blvds. in La Habra. The center is scheduled to open next Aug. 10 and will include a community building, La Casita, for use of community and civic activities. v Arnett said the 19,500-squ"are-foot space leased to Magnin ' commits 88 of Fashion Square. Magnin pointed out tliat the new store would be the 32nd in the chain of Joseph Magnin stores in California and Nevada. Fashion Square, master-planned by Welton Becket & Associates, will include spacious malls and plazas and will have landscaped parking areas for more than 3,000 cars. It will serve Whittier, La Mirada, Brea and Fullerton in addition to La Habra. Coldwell, Banker & Co. are leasing agents. jT-h PifX-' 's. Malibu oiRECTioNSt I 1 CfmV'''7 Wj&ifc?f " Cany" From thi Venture " Wo north 4 Asi v.v.Sv ,.. W? and into Malibu f -H - :-AC SALES OFFICE; " C.nyM Park. 4 HV al 213T S89-S383 lT SSsOSS 1 X. : 541lRuthwood,i7 T '2'mt -f Calibasai, Art i " OUT OF SIGHT... A Site Worth Seeing! Great hillside homes tucked away in the hills-of Malibu Canyon. Malibu Canyon Park is a hidden village of distinctive homes with all the features you could wish. 3, 4 jS 5 BEDROOMS 2 & VA BATHS SINGLE STORY, TWO STORY from $24,950 Elegant Malibu Canyon Park Townhouses from $16,500! DIAMOND HILL A Close-in Tract in Carioga Park CL0Si-y? mi!ii 1 & 2 Story Homes Seven Rooms, 3 & 4 Bedrooms, 2 & 2'i Baths, 2100 sq. ft. of floor space. 70 ft. lots. Priced from Go onm block North of Porthtma on Toponga Canyon llvd. to Grosham SI. west on viresnam to trait. LOCATION: Owner phone: STate 8-7446 Tract Office: 340-9718 TO PROSPECTIVE IIOfJE BUYERS Hi FASHION HILLS Construction work on the Jefferson Street bridge has finally teen started. This will connect directly with an OFF RAMP on the RIVERSIDE FREEWAY and into the new extension of the RIVERDALE ROAD which is now complete. These prdjects will provide perfect access directly into the center of FASHION HILI& MORE THAN 100 FAMILIES have already purchased homes in this DEVELOPMENT. Considering all the many desirable features these are among the BEST BARGAINS IN ORANGE COUNTY. TOP CHOICE OF HOMES STILL AVAILABLE. NEW LOW PRICES NEW LOW FINANCING NEW EXTRA FEATURES Come compare QUALITY workmanship at unbelievable prices ALL HOMES REDUCED S3EAST ANAHEIM . . . for example A big 2-Mory, 4 nr S Bedrooms, 3 or 3'j Baths. Large Family Room, Formal Dining Room, 3-Car Garage, 2310 In 2390 nq. ft. acea, separate Service Porch, genu ine Lath & Plaster, all Copper Plumbing. Others from $28,900 .1 Li ir:V- V':.. fettt 1 compare QUALITY Features:. compare QUALITY Financing: compare QUALITY Floorplans: included, FREE at no extra charge wall to wall carpeting in ALL bedrooms, liv. rm, hall; draperies throughout; front yard landicaping and iprinkler ayatem; rear and side yard fencing. ( NO LOAN FEES: Interest at low as 6; 30-year loans; low, low down payments. If desired, extras like pool, patios, and air conditioning may be added to purchase price and covered by one long term loan with easy monthly payment. one for every family -3, 4, 5 bedrooms; up to 3 bathrooms. ZONED for real living (quiet tone, formal zone, informal tone), 1732 sq. ft. te 2390 aq. ft.; dining rooms, family rooms, separate service porches V and mud rooms; 2 and 3-car garages. WUATS YOUR TIME WORTH? 15 minutes to compare might save you $3,000. H Mill" 4-ikJ! a ps, -r i-i i I - Tr-Vi rZfc-A a-sT 3S l55225joijwmittM Fashion Hills' entrance is located about 100(f east of the junction of the lit nuerstde and neuport freeways. I urn left from the left hand turning it'l t .l d j r j- .1.. r-L rj-ii. lane tm in nnrrsia rreeuay oirpcuy mm rasnion nius. Ask about new access read to be available in September, 1967 CALL COLLECT (714) 637-0330 FH-40S rwmimnmnnn'

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