Hope for the District’s Notorious Triangular Lot

With much of the Media District in his hands, developer Jeff Worthe also has possession of one of its most vexing properties – a triangular parcel in the neighborhood’s heart. The lot at Alameda and Olive avenues was long slated to be the site of an office complex, possibly with a museum component dedicated to the life of late comedian Bob Hope. The legendary entertainer bought the property some 40 years ago and received entitlements for 111,000 square feet of commercial space in 2001. But he died two years later, and his aging wife was unable to move forward with any plans before she died in 2011. Worthe Real Estate Group in Santa Monica picked up the roughly 1-acre parcel for $8 million from the Hope estate in October 2012 in an under-the-radar deal. Now, he would like to develop an office complex on the site, but not on spec. Instead, he thinks it would be best as a build-to-suit for a company desiring a high profile. “It’s a small space and a rare opportunity to get your name on the building,” Worthe said. “There really aren’t a lot of opportunities for that in Burbank.” Jack O’Neill served as chief operating officer of the Hope family estate between 2005 and 2013, where he oversaw the family’s real estate portfolio and advised on business matters. He said the site meant a lot to Dolores Hope. “It was a disappointment for everyone concerned that we did not at least break ground on the project when Mrs. Hope was still alive because it was so important to her,” said O’Neill, who had previously spent nearly 40 years working for NBC, most of which in Burbank, retiring as a vice president in 2005. The property was only entitled for commercial office space so no museum will be part of Worthe’s development. But the developer said Dolores Hope’s desire to honor her husband will be reflected in the development’s name – it will be called the Hope Center – and a slightly larger than life-size bronze sculpture of Bob Hope with “top hat and tails” at its entrance. Attempts to reach the couple’s daughter, Linda Hope, whose name was on the property sale documents, were not successful. Busy street It was not happenstance that Hope acquired the property, which formerly housed a gas station. He had a relationship with NBC across the street for about 60 years, beginning in 1937 with a radio show. His relationship with the network grew through the decades as Hope hosted many comedy specials and became a regular on “The Tonight Show” with Johnny Carson. Michael Hastings is a principal at public relations and marketing firm Direct Point Advisors Inc. in Burbank, who represented the Hope family during the time it was working toward putting the entertainer’s name on Burbank airport. He said the family had wanted to put a museum on the land. “There was always a conversation that they wanted something by NBC to memorialize Bob Hope and his affiliation with the city and NBC,” said Hastings, who was on the Burbank City Council, including two terms as mayor, between 1986 and 1993, and spent two years as airport commissioner. Hastings said there were offers to buy the lot over the years, but Hope and his family were insistent on building it themselves. He added that if any developer should have it, Worthe is the right guy: “He has his finger on the pulse as to what can sell or lease,” Hastings said. Few in the city were aware of the sale when it took place, including Joy Forbes, community development director. “We heard about the sale as a rumor at first,” she said. “It was really quiet. But even when we were hopeful there would be a museum there, we always hoped the family would partner with a developer.” Worthe, who owns millions of square feet in the district, said the purchase of the Bob Hope lot was perhaps his most unusual. It was never listed on the market and Worthe said the family trust approached him looking to sell the entitlement. “It’s just not their focus to be building office buildings,” he said. The entitlements are valid until 2019, and according to the city, any project would not require further discretionary review, though it would need building permits. William R. Boyd Jr., senior managing director at the Glendale office of Charles Dunn Co. Inc. who has worked the market for decades, believes it will be a while before any groundbreaking. “I wouldn’t expect any development for the next three to four years,” he said. “It’s going to have to wait until there’s a 100,000-square-foot tenant who wants it built to suit.”