Louis Lesser
{{short description|American businessman}}
{{Infobox person
| name = Louis Lesser
| image = Lou Lesser.jpg
| caption =
| birth_date = {{birth date|1916|6|15}}
| birth_place = Los Angeles, California, U.S.
| death_date = {{death date and age|2013|1|29|1916|6|15}}
| death_place =
| occupation = Real estate developer
| spouse = Jeanne Lesser
| children = 4
| website =
}}
Louis Lesser (June 15, 1916 – January 29, 2013) was an American businessman. He developed property across the United States, predominantly around the Los Angeles area; he also purchased and managed property. Lesser developed Barrington Plaza, a 712 apartment and commercial FHA Urban Renewal project in West Los Angeles.
Early life
Lesser was born and raised in Los Angeles, California,{{cite news |url=https://www.nytimes.com/1963/03/16/archives/personality-boom-is-loud-for-lesser-western-developer-sees-his.html |title=Personality: Boom is Loud for Louis Lesser |work=New York Times |date=16 March 1963}} to a Jewish family.{{cite web |url=http://www.jewishjournal.com/obituaries/article/obituaries4 |title=Obituaries |work=The Jewish Journal of Greater Los Angeles |date=28 March 2013}} He attended Hollywood High School and was very successful at making extra money selling magazines. On graduation, he turned down a supervisory job offer from the magazine company, instead joining his father's women's clothing manufacturing small business.{{cite news |url=https://www.proquest.com/docview/167584862 |title=DOWN TO EARTH: The Lesser Side of Making Money |work=Los Angeles Times |date=13 March 1960|id={{ProQuest|167584862}} }}
Business career
=Early career=
He expanded his father's clothing business by selling to major retailers. He left the business in 1945, when he was drafted into the army.{{cite web |url=https://aad.archives.gov/aad/record-detail.jsp?dt=893&mtch=3&tf=F&q=louis+lesser&bc=sl,fd&rpp=10&pg=1&rid=8114816&rlst=2822261,8114816,1436227 |title=Electronic Army Serial Number Merged File, ca. 1938 - 1946 (Enlistment Records) |work=U.S. National Archives and Records Administration}} In 1947, after his military discharge, he purchased Dr. Forbes Farms, a fruit producer. A couple of years later he sold it and purchased a group of gas stations, which later merged with the Sunset Oil Company, where he served briefly as vice-president until his retirement aged 36. An irrepressible optimist, he was attracted to real estate development. He joined Don Metz in the development of Torrance Gardens, a single family residential real estate development in Torrance, California consisting of 437 houses.{{cite news |url=http://www.torranceca.gov/archivednewspapers/Herald/1950%20June%201%20-%201951%20April%2012/PDF/00000141.pdf |title=$5½ Million New Home Tract Started Here |work=Torrance Herald |date=13 July 1950 |access-date=21 January 2015 |archive-url=https://web.archive.org/web/20150122030639/http://www.torranceca.gov/archivednewspapers/Herald/1950%20June%201%20-%201951%20April%2012/PDF/00000141.pdf |archive-date=22 January 2015 |url-status=dead }}{{cite news |url=https://www.proquest.com/docview/166167650 |title=Active Week Puts Tract's Sales Past $3,750,000 |work=Los Angeles Times |date=17 December 1950|id={{ProQuest|166167650}} }}{{cite web |url=http://www.leagle.com/decision/196061119detcm592_1503 |title=LESSER v. COMMISSIONER Docket No. 63975 |work=United States Tax Court |publisher=Leagle |date=31 May 1960}}
=Louis Lesser Enterprises. Ltd. =
His retirement in 1952 lasted less than a year. Later in 1952, he and other family members formed Louis Lesser Enterprises, Ltd., a partnership, which bought and developed commercial, residential, and industrial real estate.{{cite web |url=https://www.sec.gov/news/digest/1962/dig040562.pdf |title=Securities and Exchange Commission News Digest |work=U.S. Securities and Exchange Commission |date=6 April 1962 |page=6}} It was incorporated in 1960/61, in preparation for a $5 million initial public offering in 1962/63. By that time, Lesser estimated that he had developed $500 million of real estate across nine states and that Louis Lesser Enterprises, Ltd had grown its assets from $200,000 to $60 million.
Lesser also developed housing for military personnel, involving over 3,000 units at 14 military installations across the US, with a total construction value of $35 million, with funding under the Capehart Act.{{cite news |url=https://www.proquest.com/docview/167091729 |title=Indiana Housing Project Awarded to L.A. Firm |work=Los Angeles Times |date=9 June 1957|id={{ProQuest|167091729}} }} He developed an industrial center near the new Los Angeles International Airport in 1956-1957, leasing buildings worth $9 million.{{cite news |url=https://www.proquest.com/docview/167059506 |title=FIRM OCCUPIES SIXTH BUILDING IN CENTER |work=Los Angeles Times |date=10 February 1957|id={{ProQuest|167059506}} }}{{cite news |url=https://www.proquest.com/docview/167059506 |title=FIRM OCCUPIES SIXTH BUILDING IN CENTER|work=Los Angeles Times |date=10 February 1957|id={{ProQuest|167059506}} }} He began the development of another $3 million extension to a site in San Diego in 1959, also to be leased to the company.{{cite news |url=https://www.proquest.com/docview/167595045 |title=$7.S MILLION PROJECT |work=Los Angeles Times |date=25 October 1959|id={{ProQuest|167595045}} }} He purchased the Beckman Instrument facility in Newport Beach for $2.5 million in 1958, and leased it to the Hughes Aircraft Company.{{cite news |url=https://www.proquest.com/docview/167372565 |title=Beckman Instrument Plant at Newport Sold |work=Los Angeles Times |date=3 October 1958|id={{ProQuest|167372565}} }}
In 1959, Louis Lesser Enterprises, Ltd and Ben Deane became partners in the development of Barrington Plaza. In June 1961, Deane sold his 50% interest to the partnership which became the sole order owner.{{cite book |url=https://books.google.com/books?id=ew0uAAAAMAAJ |title=Investigation into FHA multiple dwelling projects: Hearings, Eighty-ninth Congress, second session |work=U.S. Senate Committee on Government Operations: Permanent Subcommittee on Investigations |date=1966 |page=99}} It was completed in 1962, and comprised 712 apartments in one 27 and two 17 story buildings, making it both the largest,{{cite news |url=https://www.nytimes.com/1962/09/23/archives/712unit-project-finished-on-coast-barrington-plaza-is-called.html |title=712-UNIT PROJECT FINISHED ON COAST |work=New York Times |date=23 September 1962}} and the tallest,{{cite web |url=https://www.proquest.com/docview/168148937 |title=Everything Is 'Go' at Barrington Plaza |work=Los Angeles Times |date=16 September 1962|id={{ProQuest|168148937}} }} FHA Urban Renewal Project west of the Mississippi. The original application for a $14 million Federal Housing Administration loan was one of the largest FHA insurance commitments ever filed.{{cite news |url=https://www.proquest.com/docview/167395415 |title=$14 Million Loan Application for West Side Project Filed |work=Los Angeles Times |date=5 April 1959|id={{ProQuest|167395415}} }}{{cite news |url=https://www.nytimes.com/1966/08/23/archives/senate-panel-to-investigate-usinsured-housing-units.html |title=Senate Panel to Investigate U.S.-Insured Housing Units |work=New York Times |date=23 August 1966}}
Along with San Diego developer Irvin Kahn, in 1960 he developed two motels on the Shelter Island reclamation project costing $5.7 million.{{cite news |url=https://www.proquest.com/docview/167823653 |title=Shelter Island Result of Man's Ingenuity |work= Los Angeles Times |date=9 October 1960|id={{ProQuest|167823653}} }} He participated in the 1961 Casa Conejo development, in the Conejo Valley, and was the largest developer there, building 1,000 homes.{{cite news |url=https://www.proquest.com/docview/167838895 |title=Homes and Industry Come to Conejo Valley |work=Los Angeles Times |date=16 April 1961|id={{ProQuest|167838895}} }} In association with Irvin Kahn, and others, Lesser was heavily involved in developing bowling complexes in California, with the Los Angeles Times suggesting that he was the most active developer in this area by 1962.{{cite news |url=https://www.proquest.com/docview/168098749 |title=Bowling Right Up Developers' Alley |work=Los Angeles Times |date=8 July 1962|id={{ProQuest|168098749}} }}
He initiated a 22-story, 236 unit apartment structure named "Lesser Towers",{{cite news |url=https://www.proquest.com/docview/155558219 |title=22-STORY APARTMENT NEARING COMPLETION |work=Los Angeles Times |date=18 September 1966|id={{ProQuest|155558219}} }} in 1962,{{cite news |url=https://www.proquest.com/docview/168064849 |title=22-STORY APARTMENT SLATED FOR WILSHIRE |work=Los Angeles Times |date=24 June 1962|id={{ProQuest|168064849}} }} when it was budgeted to cost $7 million. Development setbacks caused by litigation caused the project to stand idle in the early stages of construction for more than three years. In 1965, a new builder was brought in to finish development.{{cite web |url=https://www.proquest.com/docview/155361617 |title=Construction Resumes on Lesser Towers |work=Los Angeles Times |date=20 February 1966|id={{ProQuest|155361617}} }}{{cite web |url=https://www.proquest.com/docview/155558219 |title=22-STORY APARTMENT NEARING COMPLETION |work=Los Angeles Times |date=18 September 1966|id={{ProQuest|155558219}} }}
Lesser purchased the Phillips Ranch near Pomona in 1964 for $6 million. At 2,241 acres, it was one of the largest parcels of undeveloped land in Los Angeles County. He intended to build 10,000 homes over five years, with planning to be completed by the end of the year.{{cite web |url=https://www.proquest.com/docview/155047795 |title=Historic Ranch to Be Big Community |work=Los Angeles Times |date=15 November 1964|id={{ProQuest|155047795}} }}
Following two years of losses, Lesser resigned as chairman of Louis Lesser Enterprises in 1967 and accepted a bailout from Henry Salvatori, at which point the company was renamed Western Orbis Company.{{cite news |url=https://www.proquest.com/docview/156368993 |title=San Diego Developer Sued by Louis Lesser |work=Los Angeles Times |date=27 February 1970|id={{ProQuest|156368993}} }}
Personal life
He married Jeanne Mikels in 1937 and they remained married until her death in 2006.{{cite web |url=http://www.jewishjournal.com/obituaries/article/obituaries_20061215/# |title=Obituaries |work=The Jewish Journal of Greater Los Angeles |date=14 December 2006 |access-date=28 November 2009 |archive-url=https://web.archive.org/web/20121012014819/http://www.jewishjournal.com/obituaries/article/obituaries_20061215/ |archive-date=12 October 2012 |url-status=dead }} They had four children, Terese (Teri), Francine (Frankie), Kathy, and Craig.{{cite web |url=https://www.courtlistener.com/opinion/269660/louis-lesser-and-jeanne-lesser-v-commissioner-of-i/ |title=Court of Appeals for the Ninth Circuit |work=CourtListener |date=6 December 1965}}
References
{{reflist|30em}}
{{DEFAULTSORT:Lesser, Louis}}
Category:American businesspeople in real estate
Category:American people of Polish-Jewish descent
Category:American people of Russian-Jewish descent
Category:Businesspeople from Los Angeles
Category:Landowners from California
Category:20th-century American landowners
Category:History of Los Angeles County, California
Category:20th-century American businesspeople