The Investors Behind Talmadge Park and Talmadge Park Estates: Centennial Stories #2
February 23, 2026
Laura Henson
The Investors Behind Talmadge Park & Talmadge Park Estates
Talmadge Park 1 and 2 on the Kensington Mesa and Talmadge Park 3 on the Talmadge Mesa were developed by the Southern California Realty Corporation (SCRC) in 1926, a syndicate of Los Angeles based real estate investors and prominent Hollywood executives.
While living in Los Angeles, Roy Lichty regularly golfed with many of these men. Through relationships formed on the golf course, Lichty was able to generate interest, capital, and promotional support for developing the Talmadge Park subdivisions in San Diego.
Among the principal investors were the following:
Joseph M. Schenck
Husband of Norma Talmadge
Widely regarded as the wealthiest investor in the syndicate, with an estimated net worth of $50 million in 1926
Chairman of United Artists
Chairman of the Board at MGM
Early investor in Walt Disney
Early mentor to Marilyn Monroe at the beginning of her career
Louis B. Mayer
Vice President and General Manager of Metro-Goldwyn-Mayer (MGM) in Culver City
Oversaw the celebrated “Mayer Era” of MGM during the 1920s, including major films such as:
The Big Parade — among the highest-grossing silent films of all time
Ben-Hur: A Tale of the Christ — renowned for its iconic chariot race
La Bohème starring Lillian Gish
Love starring Greta Garbo
Hallelujah — one of the first major studio films with an all-Black cast
Sid Grauman
Creator of Grauman’s Chinese Theatre, famous for its courtyard of celebrity handprints and footprints
Creator of the Grauman’s Egyptian Theatre, inspired by the 1922 discovery of Tutankhamun’s tomb
The Egyptian hosted the first red-carpet movie premiere for Robin Hood starring Douglas Fairbanks
Lou Anger
Manager of Buster Keaton’s studio
Close associate of Joseph Schenck
Keaton married Natalie Talmadge, Norma Talmadge’s sister, further intertwining Hollywood and Talmadge Park’s investment network
I. C. Freud
President of the Southern California Realty Corporation
Los Angeles–based capitalist and real estate executive
One of the principal financial backers and organizers of the Talmadge Park subdivisions
Roy Lichty
Business Manager of Talmadge Park
Secretary of the Southern California Realty Corporation
Key intermediary linking Los Angeles investors to San Diego development
The Impact of the Great Depression
The Southern California Realty Corporation remained financially invested in the 3 Talmadge Park subdivisions until approximately 1937, when the Great Depression (1929-1941) forced many parcels to be returned to lenders. These properties reverted primarily to the Union Trust Company of San Diego and the Veterans’ Welfare Board of the State of California.
Talmadge Park Estates (1928) also received investment capital from SCRC. They first invested in 1931, but by 1938, continued economic hardship resulted in parcels being returned to Union Trust Company of San Diego.
As a result, SCRC largely missed the Great Depression housing resurgence driven by the Federal Housing Administration (FHA) under Franklin D. Roosevelt’s New Deal. The FHA-backed building boom, which began in Talmadge Park Estates in 1939, ultimately jumpstarted residential construction after the original Hollywood backed investment era had come to an end.
Now that we understand who financed Talmadge Park, the next piece of the story is how it was promoted, and that story centers on three sisters whose fame defined the golden age of silent film.