Hollywood isn’t all fairy tales and happy endings, in fact, the famous HOLLYWOOD sign, originally erected in 1923, is now in serious danger. The Associated Press is reporting that the land surrounding the sign is now for sale, and fears are that the land will be sold for housing.

An investment group has just put some of the surrounding hand up for sale as Los Angeles residents fear the worst. 138 acres above and to the left of the famous and historic sign that was once owned by Howard Hughes is currently for sale for $22 million. The property was purchased from Hughes’s estate in 2002 for a reported $1.7 million.

The City of Los Angeles has interest in purchasing the land, but has a legal limit of $6 million, the most recent tax appraisal.

Although the land is supposedly not that close to the HOLLYWOOD sign, a development filled with homes could seriously put the glamor of the sign in serious jeopardy. The 45-foot high letters would seriously over-shadow the average home, even in Hollywood, but rows and rows of little boxes in the letters’ shadows would certainly detract from the famous site, but one or two mansions may only look like small specs in the distance.

The fate of the Hollywood Hills is truly in the balance! Do you want to own this piece of history?

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Tags: national //