More than A Miracle

More than A Miracle

When 1920’s real estate visionary and developer AW Ross sought to develop Wilshire Blvd as a commercial district, people thought he was absurd, because it was just a 20 foot- wide dirt road flanked by oil wells, barely fields, cattle ranches and empty land with no transportation lines or even paved roads.

Still, he aggressively pursued his dream of a commercial areal to rival downtown and LA and Ross, stubbornly, purchased 18 acres along Wilshire, to implement it.  The seeds of “Wilshire Boulevard Center” began to take shape. Between 1920 and 1928 people called this strip of Wilshire, “Ross’s Folly.” So, Ross enlisted the help of department store owners from Downtown Los Angeles and other businessmen to build along Wilshire Boulevard due to their proximity to the wealthy areas of Hancock Park and Beverly Hills. He also made sure that these businesses provided plenty of parking for the new car owners of Los Angeles. This is when his friends realized that Ross’s Folly was REALLY a miracle and they dubbed the area “Miracle Mile.” The name stuck and was perfectly suited for the auto-centric, artistic and consumer-driven community that would come to personify Los Angeles.

Statue of A.W. Ross on the corner of Wilshire at Curson. The inscription reads, “A. W. Ross. Founder and Developer of the Miracle Mile. Vision to see. Wisdom to know. Courage to do.”

Mr. Ross had the last laugh.

In the past 85+ years, the Mile has gone through various economic changes. Although, no longer home to many department stores and shopping areas, it offers apartments, office buildings, world famous museums, restaurants and is a magnet for the people of Los Angeles and its many visitors. In lieu of the Wilshire Blvd retail strip, “Angelenos” have the most magnificent, magical retail Disneyland on earth AND the heartbeat of Los Angeles, The Grove.

This 575,000 sqft outdoor, mega retail park and public space, replete with the best of retail, restaurants, entertainment and celebrity sightings has dancing fountains, a free historic trolley and a signature landmark, “The Spirit of Los Angeles”, an 18 ft statue of two angels as its’ centerpiece.  This fantastic statue encapsulates the spirit of this one of kind city within the city.

While a portion of the Miracle Mile Neighborhood is designated as a HPOZ, (Historic Preservation Overlay Zones), which creates problems when wanting to tear down or renovate a home, The Bienstock Group was able to procure and sell 356 North Vista Street as an excellent tear down and development opportunity.  This area is also close to excellent schools, such as Laurel Elementary, John Burroughs Middle and Fairfax Senior High.

 

Some of the highest sales in the Neighborhood:

434 N. Mansfield: a 7 Bed/9 Bath that sold for $4,100,000.

439 North Vista: a 5 Bed/ 6 Bath that sold for $3,950,000.