SHERMAN OAKS : Conservancy Offers to Buy Canyon Land

The Santa Monica Mountains Conservancy has offered to buy 55 acres of land in a pristine canyon in the Sherman Oaks area, if the city of Los Angeles is willing to maintain it.

This week, the conservancy’s board approved beginning negotiations with the city to hammer out details of the proposed agreement, which would end a 15-year fight over several bids to develop the parcel, known among neighbors as Longridge-Alomar Canyon.

In exchange for the conservancy purchasing the land, the agreement would probably require the city to pay for security, fire prevention and trail repair for at least five years, said John Diaz, deputy director of the conservancy.

Although no price has been set for the land, the most recent developer, Griffin Homes, listed the property as a $2-million asset when it filed for bankruptcy.

Diaz, who said he planned to begin talks with the bank that holds the land and Los Angeles City Councilman Zev Yaroslavsky, said the final price tag will probably be between $900,000 and $1.7 million.

He said both the city and conservancy would use funds designated for the purchase of open space under Proposition A.

A shortage of such funds makes the deal uncertain, said Katharine Macdonald, press deputy for Yaroslavsky, who represents the area. But one canyon neighbor who has been active in the bid to have the conservancy purchase the land said he is optimistic about recent developments.

“I think everything is in line. I think everything is going to work out,” said neighbor Turnley Walker, who has fought development of the canyon for 15 years. “They’ll buy it and the city will take care of it.”