MEMOIRS BY DR. SAMUEL H. SUTHERLAND PRESIDENT EMERITUS June 20, 1986 Page 12 - Tape 1
then they purchased the lot. Biola owned that lot for ten years, during which time the parking lot rentals brought in over $300,000 in revenue to the school. It was that same lot where we originally planned to build the 13-story building to supplement the downtown facilities. As a result of the luncheon we had at the Jonathan Club, we decided to move; therefore, the lot was put up for sale. By that time it had become a key lot. The Superior Oil Company wanted to build a 12-story building on the comer of Flower and 6th Street. There were some rather cheap hotel facilities, plus small stores on the rest of the area facing 6th Street between Hope and Flower. So the lot, although it was not on Hope Street, was a rather key lot for any good-sized development. Ray Myers, Dave Isaac, and other men on the Board of trustees arbitrarily set a price of $350,000 for that piece of property then owned by Biola. Coldwell Banker's men thought that was a rather
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