18 Miles Of California Coast For Sale

The Hearst family is interested in selling most of the 18 California coastal miles of land the family has held since 1865.

1 minute read

February 20, 2004, 5:00 AM PST

By Chris Steins @planetizen

"If you never realized how much the Hearsts hold, you're excused... Thwarted for years in their efforts to develop housing or a resort on parts of the ranch, the Hearsts now want to sell most of these 18 coastal miles some 1,121 ocean-adjacent acres to a conservancy that would then pass the land to the state... The proposed sale price is $80 million plus $15 million in tax credits, which the Hearsts expect a pending appraisal to show is far below the land's value on the open market."

Thanks to Chris Steins

FULL STORY: It's not our land -- so let's grab it

Tuesday, February 17, 2004 in The Los Angeles Times

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