GLENDALE — City officials on Tuesday announced an agreement with the owners of the Rockhaven Sanitarium to purchase the 3.5-acre site for $8.25 million, more than six months after Councilman John Drayman broached the idea during a capital improvement study session.
The purchase agreement was confirmed Tuesday when property owner Ararat Home of Los Angeles, Inc., signed off on the terms, sending both parties into a 30-day escrow. The official announcement was made later at the City Council meeting.
“Obviously, I’m absolutely thrilled,” Drayman said. “It is a unique opportunity to preserve a piece of our city’s history.”
The purchase price falls well within the city’s own appraisal of the land, which was valued between $6 million and $11 million, Mayor Ara Najarian said.