S. Jon Kreedman

S. Jon Kreedman (1921 – November 5, 1999) was an American real estate developer, banker and philanthropist.

S. Jon Kreedman
Born1921
Detroit, Michigan, U.S.
DiedNovember 5, 1999(1999-11-05) (aged 77–78)
Los Angeles, California, U.S.
OccupationReal estate developer, banker, philanthropist
Political partyDemocratic Party
Spouse(s)Thelma Kreedman (divorced)
Marlene Kreedman
Children1 son, 1 daughter

Early life

S. Jon Kreedman was born circa 1921 in Detroit, Michigan.[1] His father was a carpenter-turned-real estate developer.[2] He moved to Los Angeles, California in 1941, and he served in the United States Army during World War II.[1]

Career

Construction industry

Kreedman began his career by working for his father at the age of 15, first as a carpenter and later as a builder.[2] He later worked for a construction firm.[2] In 1948, he founded his own real estate development company, S. Jon Kreedman & Co., a real estate development company headquartered in Beverly Hills, California.[1]

The Hotel Alexandria in Downtown Los Angeles, owned by Kreedman from 1961 to 1970.

Kreedman began by building tract homes in Los Angeles, California.[2] He subsequently moved on to commercial buildings.[2] He built the Brierwood Terrace-Valley Convalescent Hospital in Encino, California in 1958; its construction cost more than US$50,000.[3] In 1959, he purchased the Plush Horse Restaurant at 1700 South Pacific Coast Highway in Redondo Beach, California from Harold Gelber with two Chicago investors to build a new resort;[4] it became known as the Plush Horse Inn in 1961.[5] Meanwhile, he acquired the Hotel Alexandria in Downtown Los Angeles in 1961, only to restore it in 1970.[6][7] Kreedman built the United California Bank Building on the corner of Wilshire Boulevard and Camden Drive in Beverly Hills, but its foundation wall collapsed because of the underground parking lot in 1961.[8][9] By 1962, he controlled US$50 million of real estate.[2] He built the One Wilshire in Downtown Los Angeles in 1966.[1] In 1973, he converted The Century Towers in Century City from luxury rentals to condominiums.[1][10]

One Wilshire, developed by Kreedman.

Kreedman had an option on "50 retail stores and 12 parking lots" in Westwood owned by Arnold Kirkeby, which he sold to investors M. A. Borenstein, Bernard M. Silbert and Harvey Silbert in 1961.[11]

Kreedman was appointed to the Advisory Commission on Housing Problems by Governor Pat Brown in 1961.[12][13]

The company was sued in S. Jon Kreedman & Co. v Meyers Bros. Parking-Western Corp. in 1976 over the construction of a parking lot.[14] The case showed that regardless of the lack of architectural plans, construction firms must repay the tenants for their lost profits.[14]

Kreedman was invited to give lectures about the construction industry on the campuses of UCLA in 1960,[15] and the Harvard Business School in 1967.[1]

Finance

Kreedman founded American City Bank in 1963.[16] He served as its chairman.[16] It became "the largest independent bank in the Los Angeles area",[1] with seven branches in Southern California by 1983.[17] However, it went bankrupt that year,[1][16] and it was acquired by the United Overseas Bank.[17]

Kreedman was appointed to the board of directors of CalPERS in 1979.[1] Three years later, in 1982, he was appointed to the board of administration of the Public Employees Retirement System for the City of Los Angeles.[1][18]

Philanthropy

Kreedman made charitable donations to the Cedars-Sinai Medical Center, the City of Hope National Medical Center, and the Variety Club of Southern California.[1]

Kreedman supported the Hebrew University of Jerusalem and the Israel Bonds Organization.[1]

Political activity

Kreedman was a member of the Democratic Party.[13] He campaigned for the 1969 re-election of Sam Yorty as Mayor of Los Angeles.[19]

Kreedman served as co-chairman of Jerry Brown's 1973 gubernatorial campaign.[20] He was also one of the campaign's largest contributors, having donated US$10,000.[21] Meanwhile, additional donations were also made through the Century Towers Association and the Hotel Alexandria.[22]

Personal life and death

His first wife, Thelma, filed for divorce in 1963, on allegations of "extreme cruelty".[23] With his second wife Marlene, Kreedman had a son, Dale, and a daughter, Barbara.[1]

Kreedman collected vintage cars.[24]

Kreedman died on November 5, 1999 in Los Angeles, California.[1]

References
  1. Oliver, Myrna (November 8, 1999). "S. Jon Kreedman; Real Estate Developer". The Los Angeles Times. Retrieved August 30, 2016.
  2. "At 15 Brings Career Start". Anderson Herald. Anderson, Indiana. April 8, 1962. p. 3. Retrieved August 31, 2016 – via Newspapers.com.
  3. "Announce New Hospital for Convalescents to Open". The Van Nuys News. Van Nuys, California. July 10, 1958. p. 13. Retrieved August 31, 2016 – via Newspapers.com.
  4. "Plush Horse, Redondo Beach, Sold; Major Resort Planned". Independent Press-Telegram. Long Beach, California. August 16, 1959. p. 61. Retrieved August 31, 2016 – via Newspapers.com.
  5. "More Details on Best Dining Spots". Independent. Long Beach, California. October 13, 1961. p. 34. Retrieved August 31, 2016 – via Newspapers.com.
  6. "Hotel Restoration". San Bernardino County Sun. San Bernardino, California. December 20, 1969. p. 35. Retrieved August 31, 2016 – via Newspapers.com.
  7. "Grand Hotel All Spit and Polish". News-Journal. Mansfield, Ohio. August 26, 1970. p. 5. Retrieved August 31, 2016 – via Newspapers.com.
  8. "New Bank's Foundation Collapses". Santa Cruz Sentinel. Santa Cruz, California. May 9, 1961. p. 15. Retrieved August 31, 2016 – via Newspapers.com.
  9. "Big Bank Foundation Collapses". The Times. San Mateo, California. May 9, 1961. p. 9. Retrieved August 31, 2016 – via Newspapers.com.
  10. "HISTORY". Century Towers. Retrieved August 30, 2016.
  11. Wanamaker, Marc (2010). Westwood. Charleston, South Carolina: Arcadia Publishing. p. 109. ISBN 9780738569109. OCLC 639158795.
  12. "Brown Names 13 to Housing Advisory Unit". Independent Star-News. Pasadena, California. November 19, 1961. p. 25. Retrieved August 31, 2016.
  13. "Brown Takes Steps to End Housing Gap". The Times. San Mateo, California. November 20, 1961. p. 12. Retrieved August 31, 2016 – via Newspapers.com.
  14. Weverka, Philip, ed. (2015). California Construction Contracts, Defects, and Litigation: 2015 Update. Arlington, Virginia: CEB Inc. p. 44. ISBN 9780762623389.
  15. "Special Lecture Series at UCLA to Open on Thursday". Valley News. Van Nuys, California. September 18, 1960. p. 26. Retrieved August 31, 2016 – via Newspapers.com.
  16. "TAKEOVER IS ARRANGED FOR FAILED COAST BANK". The New York Times. February 28, 1983. Retrieved August 30, 2016.
  17. "Singapore Group Buying U.S. Bank". The New York Times. August 14, 1981. Retrieved August 30, 2016.
  18. "Sacramento Summary". Santa Cruz Sentinel. Santa Cruz, California. January 24, 1982. p. 7. Retrieved August 31, 2016 – via Newspapers.com.
  19. "Yorty Campaign Headquarters Opened". The Van Nuys News. Van Nuys, California. February 9, 1969. p. 19. Retrieved August 31, 2016 – via Newspapers.com.
  20. "Brown letter points to his candidacy". Redlands Daily Facts. Redlands, California. September 27, 1973. p. 9. Retrieved August 31, 2016 – via Newspapers.com.
  21. "Brown Bares Income, Campaign Fund Data". Daily Independent Journal. San Rafael, California. November 17, 1973. p. 8. Retrieved August 31, 2016 – via Newspapers.com.
  22. "Brown said hiding big business money". The Times Standard. Eureka, California. March 22, 1974. p. 2. Retrieved August 31, 2016 – via Newspapers.com.
  23. "Files Suit". Independent. Long Beach, California. July 26, 1963. p. 2. Retrieved August 31, 2016 – via Newspapers.com. The wife of millionaire Beverly Hills builder S. Jon Kreedman has filed suit for divorce in Santa Monica. Mrs Thelma Kreedman charged extreme cruelty in a complaint.
  24. "Vintage Cars on Display". Independent Press-Telegram. Long Beach, California. April 23, 1972. p. 85. Retrieved August 31, 2016 – via Newspapers.com.
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