TOPANGA CANYON : 15-Year Fight for Parkland Ends as Escrow Closes
Escrow closed Friday on the Santa Monica Mountains Conservancy’s purchase of 662 acres at the top of Topanga Canyon, bringing to a quiet end one of the most bitter land-use disputes in Los Angeles County history.
Land once proposed as the site of a links-style golf course and 97 luxury home sites passed into public hands after the conservancy wired $14.1 million to the account of the Canyon Oaks Estates Limited Partnership.
“It’s done,” said conservancy staff counsel Liz Cheadle. “We own it, the people of California own it.”
The transfer marks the end of a nasty fight that began more than 15 years ago over how the land in the Summit Valley should be used. Many residents of Topanga Canyon wanted the property to remain undeveloped.
Under the terms of the deal, the conservancy agreed to pay $19.9 million in two installments for the property, which straddles Topanga Canyon Boulevard. Friday’s installment covered 432 acres. The second, due in August, 1995, will pay for the remaining 230 acres.
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