Then there's Apple CFO Luca Maestri who paid $9,000,000 for his forest-like 17 Mile Drive property, and Palos Verdes-based philanthropists Richard & Melanie Lundquist, who just this April (2016) slammed down $28,000,000 for a major 17 Mile Drive estate and they already own a smaller home on the very same road! Mr. Grosss blufftop house is one of the largest mansions in the pricey community, weighing in at a decidedly-portly 13,819 square feet with 6 bedrooms and 8 bathrooms. Yolanda, of course, opened her own investigation and it only took a couple minutes of research before we discovered (and as you probably already guessed) that this White Tiger Trust is very easily connected to the man himself William H. Gross, aka Bill Gross. Richard and I talked about it. I think they achieved that., He added, We had originally targeted around $50 million to $75 million (in donations) from the community in cash and pledges. Dr. Melanie Lundquist, LHD, is an activist philanthropist whose voice is as fearless as her charity work. Heres how. Their gifts have created the Partnership for Los Angeles Schools, a sustainable, national turnaround model for underserved non-charter K-12 public schools that works within the Los Angeles Unified School District. Its going to be a tremendous community asset, said President and CEO Craig Leach. About Dr. Lundquist Dr. Melanie Lundquist, LHD, is an activist philanthropist whose voice is as fearless as her charity work. The Lundquists gift completes the campaign early, having raised $53 million in under three years. I call them heroes, Leach said of the Lundquists. The Lundquists dont have children. During the past twelve months, AltaSea has secured $24 million in local, state, and federal funding commitments and is a finalist for a $32 million U.S. Economic Development Administration federal grant. 1. Richard holds an undergraduate Bachelor of Science from the University of Southern California. Melanie and Richard Lundquist are agents of change and two of Californias most significant philanthropists. While they have created significant and positive impact through their philanthropy, especially in California, their reach touches us in Kansas and in so many other parts of our country. We wouldnt be featuring him if he had a Warren Buffett-style real estate situation. The largest gift in the college's 135-year history is the largest gift made by the Lundquists outside their native California. Melanie and Richard Lundquist are among California's most significant philanthropists, having pledged more than $325 million in charitable contributions toward educational, medical, and. The Lundquists other philanthropic passion, health care, has been demonstrated mainly through a series of gifts totaling nearly $100 million to the Torrance Memorial Medical Center, just south of Los Angeles. No kidding. AltaSeas 35-acre campus devoted to marine and maritime research, education and business entrepreneurialism has an important role to play as Los Angeles helps lead the way in promoting the blue economy, said Knatz, who as the first Executive Director of the Port of Los Angeles from January 2006 through January 2014, helped create and implement the San Pedro Bay Ports Clean Air Action Plan. Dirt is a part of Penske Media Corporation. For over three decades, Richard has served as a member of the Board of Directors of the El Segundo Education Foundation, a non-profit organization that raises funds for El Segundo, CA public schools, where Continental Development is headquartered. The Lundquists met in the 1980s as neighbors in an apartment complex in Redondo Beach, a coastal city in Los Angeles County. They ended up giving $10 million to the cardiovascular institute the largest donation to the hospital at that point and $3 million to expand emergency-room care. Philanthropists Melanie and Richard Lundquist have donated $32 million to Torrance Memorial Medical Center to improve neurological, orthopedic and spinal care at the hospital. Many teachers and school administrators working in some of the toughest tumbledown schools were skeptical. He has a net worth of $5 billion. Richard's company, Continental Development Corporation, is a commercial real estate development and management company headquartered in El Segundo, California, The Lundquists are not only neighborsthey own the InterContinental San Francisco hotel next doorbut also donors and philanthropists. Their Building Community fundraising campaign was launched in October 2019 with a goal of $20 million, which was met 2 years ahead of schedule in December 2020. By entering your email and clicking Sign Up, you're agreeing to let us send you customized marketing messages about us and our advertising partners. Lundquist is a member of the University of Southern California (USC) Presidents Leadership Council and Vice Chair of the Board at the Partnership for Los Angeles Schools. She previously served as the executive director of the Port of Los Angeles from 2006 to January 2014. The two slowly became friends and over time they started dating. Dr. Richard Lundquist, LHD, is a native and lifelong resident of Southern California. She is currently a Professor of the Practice of Policy and Engineering at USC. On average, MMA Capital Inc executives and independent directors trade stock every 20 days with the average trade being worth of $136,434. So their gift agreements with the medical center, which has named a building and the cardiovascular center for them, include a provision aimed at spurring donor bidding wars. Part of HuffPost News. We really are indebted to them.. He was busy building a real-estate business, and she was a speech pathologist working with special-education children. This five-year fellowship program seeks to further develop students who have demonstrated outstanding leadership and commitment to their schools, education, and communities with an academic scholarship and opportunities for personal and professional growth. Zero-calorie sweetener linked to heart attack and stroke, study finds, Some California cities cant stop apartment projects as developers use builders remedy, Chicago Mayor Lori Lightfoot concedes defeat, Denver just got a direct flight to this Caribbean island known for music history and vegetarian cooking, NYC Mayor Adams dismisses need to separate church and state, declares himself a servant of God, Zero-calorie sweetener linked to heart attack and stroke, study finds, Do Not Sell/Share My Personal Information. By the mid-1990s, Richard completed his purchase of Continental Development Corporation, which has now developed well over 5 million square feet of commercial buildings. The Lundquists are signatories of the Giving Pledge and have appeared four times on The Philanthropy 50, the annual list of Americas 50 most generous philanthropists. Their gifts have helped transform public education and health care delivery, spur biomedical research and innovation, and propel efforts to combat climate change. Torrance Memorial Medical Center has now received a total of $100 million from Los Angeles philanthropists Melanie and Richard Lundquist. We are transitioning beyond our support of K-12 public education and are hoping this gift spurs more support of well-run small liberal arts colleges in the U.S., said Richard Lundquist, who will be joining the Colleges Board of Trustees. The facility was built to withstand the largest earthquake geologists say the South Bay could face a magnitude of 7.4, Leach said. The second floor boasts the towers most intensive uses, with a dozen new operating rooms, including the South Bays first hybrid operating room, which allows surgeons to perform high-risk, minimally invasive surgeries and then switch to more conventional open surgery if needed, an adaptive approach designed to accommodate the medical needs of an aging population. Excited about helping connect the hospital to a potential big donor, Melanie Lundquist later asked the head of development about the friend. In 2019, during a McPherson College event at their home in Pebble Beach, the Lundquists announced the first-ever $1 million gift to the colleges Automotive Restoration program, the only four-year degree program of its kind in the U.S. Do you have info to share with HuffPost reporters? The South Bay couple, who have donated more than $200. Our goal now is to encourage fresh thinking, new ideas and a real commitment from business and science to uncover those answers and put them to work improving our lives and the health of our planet.. She says her public school teachers were some of the most influential people in her life. The couple also helps the medical center attract additional dollars by speaking to groups of potential donors and working with hospital leaders to cultivate relationships with wealthy philanthropists. She was part of the team of reporters awarded the Pulitzer Prize for its coverage of the 2015 San Bernardino terrorist attack. In short, hes a very big deal. https://www.youtube.com/watch?v=8C5NLfYdZaE, Get our latest stories in the feed of your favorite networks. I appreciate the Lundquists for understanding how vital institutions like McPherson College are to our local communities and the nation, and I look forward to seeing the benefits of their generosity for years to come, said Kansas senior U.S. LOS ANGELES, Feb. 11, 2019 /PRNewswire/ -- Southern California philanthropists Melanie and Richard Lundquist have donated $70 million to the Los Angeles Biomedical Research Institute (LA BioMed . Melanie Lundquist is one of the leading philanthropists in Southern California, where she gives her support to various education and health care initiatives. Its been the best journey of our lives, really.. MMA Capital Holdings, Inc. focuses on infrastructure-related investments that generate positive environmental and social impacts and deliver attractive risk-adjusted total returns to shareholders, with an emphasis on debt associated with infrastructure including renewable energy projects. His answer? And judging by the spike in hits our blog receives whenever we write about bonafide real estate ballers, Yolanda knew she just couldnt pass up writing about this. AltaSea has also been a hub for the national discussion about effective and sustainable use of ocean resources, hosting U.S. House Majority Leader Steny Hoyer, Congresswoman Nanette Barragn, Los Angeles Mayor Eric Garcetti, State Senator Steve Bradford, Assemblyman Richard Bloom, former California Governor Arnold Schwarzenegger, and many others interested in this unique and innovative public-private ocean institute. The tower faces a 16-acre site across Lomita Boulevard that decades from now will house an expansion of the hospital, but until then will serve as staff parking. 2022 McPherson College. An Update for Readers on Our New Nonprofit Status, Physicist From Humble Origins Showers Cash on Education. Other nearby Indian Wells neighbors include a multitude of billionaires: worlds richest man Bill Gates, industrialist Charles Koch, Montanas richest man Dennis Washington, Texas ranch/oil heiress Anne Windfohr Marion, and Mercedes-Benz heiress Ingrid Flick. Rooms also have sleeper sofas for friends and family and a tablet arm for charging mobile devices. In June 2018, the Chronicle of Philanthropy featured the Lundquists in a profile story titled A Lifetime Commitment: LA couple, who have signed the Giving Pledge, donate to groups that need them the most. They have appeared four times on The Philanthropy 50, the annual list of Americas 50 most generous philanthropists, published by the Chronicle of Philanthropy. Mr. A decade ago, they pledged. Melanie Lundquist is one of the leading philanthropists in Southern California, where she gives her support to various education and health care initiatives. . All Rights Reserved. If you continue to experience issues, contact us at 202-466-1032 or help@chronicle.com. Gross purchased his Irvine Cove property way, way back in March 1988. Latest $32 Million Donation by Melanie & Richard Lundquist Will Establish Neuroscience Institute and Orthopedic & Spine Institute at Torrance, CA Hospital June 15, 2017 04:07 PM Eastern Daylight Time As Lundquist Fellows, students gain exposure to college and career experiences, including participation in the annual summer Oregon Young Scholars Program, opportunities to serve as ambassadors for their schools, communities, and the Partnership, recognition of their fellowship participation at a yearly ceremony, and more! Melanie and her husband Richard are agents of change and two of Californias most significant philanthropists. Southern California philanthropists and real-estate investors Richard and Melanie Lundquist like to give big to causes and nonprofits that need them the most. This gift will help put our Community by Design strategic plan on a new trajectory ensuring the new campus commons is built and strengthening the colleges academic programs as well as support the student debt project, which enables students to graduate debt-free, said McPherson College President Michael Schneider. Records show Mr. Grosss new mansion which appears to be contemporary in style was completed sometime in 1989. Commencement Speaker Dr. Melanie Lundquist encourages students to persevere and embrace the nuances in life as she announces largest gift in colleges history. Lundquist was named Philanthropist of the Year in 2019 by the Los Angeles Business Journal. During the pandemic, he co-developed and opened the 5.7-acre Del Rey campus, the newest office campus on the Westside of Los Angeles, where Electronic Arts the pioneering video game company is the anchor tenant. She said, Melanie, I know it when I see it, and hes not our donor. I was really disappointed, says Lundquist. They are also continuing to take an active role in helping the nonprofit raise money from others. The lot is a large (for the area) .53-acre of land. On one hand, it enabled Torrance Memorial to save about $30 million on construction costs, Leach said. Theyve also gotten to know the beneficiaries. In addition to their own $50 million donation, doled out over 10 years, the Lundquists have tapped their many business connections to help raise money from a number of corporations and foundations. L.A. County Supervisor Janice Hahn, who represents the South Bay, said the Lundquists donation helps ensure healthcare is accessible for the community. Staying student-centered is at the heart of everything we do at the Partnership and were proud to support our Lundquist Fellows. MMA Capital is externally managed and advised by Hunt Investment Management, LLC, an affiliate of Hunt Companies, Inc. MMA Capital Inc executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Patient rooms, waiting rooms and pre- and post-operation areas are built out to exterior walls to take advantage of the light and views. At that, the Lundquists shifted into high gear, helping raise money for his campaign. You may then be asked to log in, create an account if you don't already have one, He. We are proud to be Bulldogs, said Melanie Lundquist. Nobody thought Ms. Aniston would ever get anywhere near $30 million for that house. In addition, Geraldine has played a critical role in helping AltaSea create focal points of collaboration and expand its mission. The previous owner of that house, sadly enough, hanged herself inside the massive mansion only a year before the sale. And they have more big giving plans to come. Torrance Memorial Medical Center's new seven-story, $480 million tower in Torrance on Wednesday, September 10, 2014. We had to overcome decades of unfulfilled promises that were made to our teachers who were promised solutions, and few if any ever worked, she says. Most notable among her philanthropic activities is her generous support of the Partnership for Los Angeles Schools. 2023 Dirt.com, LLC. One of Mr. Grosss closest neighbors in Laguna Beach is Oculus VR founder Brendan Iribe, who paid more than $30,000,000 for an Irvine Cove residence thats literally a stones throw away from Mr. Grosss compound. Hes also, duh, a major lover of luxury real estate. Back to Orange County. Please, persevere. Lyda Hill, Lynn and Stacy Schusterman Among 2022 Carnegie Medal of Philanthropy Honorees. The Lundquists are signatories of the Giving Pledge, the movement where some of the U.S.s wealthiest individuals and couples commit to give more than half their wealth away. Richard and Melanie Lundquist are Southern California real estate investors and are one of the most philanthropic donors in the United States. Thats a $3.5 million loss for Mr. We hope this gift will cause everyone to pay greater attention to the value of small liberal arts colleges. For frequently asked questions please click here. These deals were kept hush-hush. The lower floors will be used for outpatient services, but officials are still deciding how to use the upper floors. All Rights Reserved. Gross is now with a much-smaller firm: Janus Capital. The hospital currently operates at 75 percent occupancy. Due to the pandemic, the hooding ceremony was delayed until this years commencement exercises. That commitment to others is what inspires us as well. As best as we can tell by aerial images, the house underwent a renovation a few years ago. About one-third of patient rooms have a visible brace designed to absorb a jolt from an earthquake. That transaction made all the real estate headlines and disclocated jaws from Los Feliz to Malibu. Were truly lucky to have Richard and Melanie as members of the McPherson College family and this conferral recognizes that, said Schneider. Blah blah blah. Their contributions to the medical center and the Partnership for Los Angeles Schools reveal an overriding aspect that surrounds most of the Lundquists giving: They prefer to devote their biggest donations to groups they seek out and get to know over time, and they want those donations to have a big impact on the organizations and people they are trying to help. "Melanie and I have invested both our time and financial resources at the institute," Richard Lundquist. They werent necessarily focused on fixing the school system in their own backyard, but when they hosted a political fundraiser in 2004 that Villaraigosa attended, Melanie Lundquist asked him what his top priorities would be if he won the mayoral race. Maybe hes converting it into a guest/staff residence. The sum is the most a single donor has given to a hospital that isnt a research or teaching facility since the Chronicle of Philanthropy began tracking donations over $1 million in 2005. Leach said thats a reflection of nationwide trends from the past six years. Gross or any of his family members so we cant shed even a flicker of light on what his plans may be for his three-house compound, which spans a total of 1.24 acres and has nearly 24,000 square feet of interior space between the three structures. Enter your email below and well share the latest news and ways to get involved. This is humbling for Richard and me. Melanie's mailing address filed with the SEC is C/O MUNICIPAL MORTGAGE & EQUITY, LLC, 621 EAST PRATT STREET, SUITE 300, BALTIMORE, MD, 21202. The new private rooms patients share rooms in the old part of the hospital, which is not optimal for patient privacy or infectious disease control are 30 percent larger than existing rooms. Mrs. Lundquist and her husband Richard are graduates of Los Angeles public schools where, as she told Los Angeles Times columnist Steve Lopez, "I got a wonderful education, and there are 50 teachers I could name right now who were some of my best friends, and even after I graduated, they continued to be friends." Not for lack of trying, but we were unable to locate a purchase price. Still, during the same period, the hospital also increased its share of the local market by 2 percentage points to almost 26 percent, Leach said. Melanie Lundquist goes a step further. Sixteen original art installations, many with South Bay themes, are scattered throughout the tower. Mrs. Lundquist is also a graduate of the University of Southern California, from which she holds both a BA and MA in Speech Pathology and Audiology. They have appeared four times on The Philanthropy 50, the annual list of Americas 50 most generous philanthropists. There were infrastructure upgrades for some of the most neglected facilities, but there were also elements that reached deeply into the operations of the schools, including teacher-support programs, academic and other coaching for students, and advice and engagement efforts for parents. And then theres furniture & real estate power couple Alan & Twila True, who in 2010 paid $27,000,000 through their Telluride Trust for the massive mansion at the end of the island. She established the Cardiovascular Institute at the Torrance Memorial Medical Center where she emphasizes womens heart health. Its kind of a goal of mine to get people to understand that where you went to public school, your K-12, that is an alma mater as well, and that is way more in need than anything else, she says. Their gifts have created the Partnership for Los Angeles Schools, a sustainable, national transformation model for underserved non-charter K-12 public schools and they have made the largest single donor contribution to a non-teaching/training hospital in the United States to establish cardiovascular, neuroscience and orthopedic institutes and the expansion of the emergency department at Torrance Memorial Medical Center. The underlying foundation of the big picture for everything is education and health care; theyre basic human rights to us., A version of this article appeared in the. They have also helped transform health care delivery and spur biomedical research and innovation. Some of the funding will also go toward improving the care delivered to surgical and intensive care unit patients, he said. Melanie holds undergraduate and graduate degrees from USC in communicative disorders/speech pathology and audiology, as well as a credential as a specialist in special education. She and her husband Richard are the second-largest donors to AltaSea behind the Annenberg Foundation. The Lundquists are champions for McPherson Colleges mission, and more importantly, they are role models for our students they are people of passion and commitment, focused on improving humanity. Gross who has been married to his second wife, Sue Frank, for over 30 years and has three grown children, FYI is also a major philanthropist and one of the worlds top stamp collectors. The couple, who just signed the Giving Pledge last month, say their future philanthropic plans include giving much of their wealth away during their lifetimes (they declined to reveal their net worth), and they plan to continue to give big to the two causes they care about most. About Dr. Richard Lundquist, LHD Dr. Richard Lundquist, LHD, is a native and lifelong resident of Southern California. He won, and with input from others, the Partnership eventually grew from a rough idea to a full-fledged nonprofit in two years. Complex in Redondo Beach, a coastal city in Los Angeles from 2006 to January 2014 represents the Bay. Melanie, I know it when I see it, and with input from others awarded the Pulitzer for... In March 1988 trade being worth of $ 5 billion be featuring him if he had Warren. Get anywhere near $ 30 million on construction costs, Leach said thats a reflection nationwide... Richard Lundquist, LHD Dr. Richard Lundquist, LHD, is a large ( for the area ) of... 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