To say he left a impression on Irvine real estate is an understatement.
Published: Oct. 22, 2012 Updated: Oct. 23, 2012 7:43 a.
By JONATHAN LANSNER, JEFF COLLINS and THOMAS MARTINEZ / THE ORANGE COUNTY REGISTER
Raymond L. Watson, the real estate planner who left ahuge imprint on two Southern California corporate icons – the Irvine Co. and the Walt Disney Co. – has died from complications of Parkinson’s disease in Newport Beach. He was 86.
In 1960, Watson was hired as the Irvine Co.’s original urban planner while the land owner faced pressure to develop more land and convince the state that the area could host a new University of California campus. With Watson’s guidance, the Irvine Co. created the master plan that is today’s Irvine as well as the corporate hub of Newport Center and the Fashion Island shopping center.
Watson eventually became the Irvine Co.’s president before leaving in 1977. He returned to serve as vice chairman 1986-2003.
“Ray Watson was a gifted man who offered tireless work, boundless energy, creative ideas and persuasive leadership,” said Irvine Co. Chairman Donald Bren, who gained control of the company in 1979.
Longtime Irvine politician Larry Agran noted Watson’s huge role in Irvine’s development. “I had occasion to work with him – occasionally on opposite sides of issues – but always found him to be a gentleman and a man of great vision. He had a remarkable life and made a remarkable impact,” Agran said.
In 1996, Watson wrote of Irvine: “It is the calculated result of, first, a vision; then a plan, then a continuum of more planning, design, public input construction and, ultimately, the fusing of plan, structures and human habitation into what we now need only describe as Irvine.”
Watson’s early work caught the eye of Disney founder and creative genius Walt Disney. Watson gave Disney early advice on what would become Florida’s Disney World and joined Disney’s board of directors in 1974. Watson became Disney’s interim chairman in 1983, as corporate vultures circled the then-ailing entertainment firm. Watson led Disney Co. to hire Michael Eisner and Frank Wells for top executive jobs – the two men guided Disney to the global entertainment leadership spot it holds today. Watson retired from Disney in 2004.
“Ray exhibited incredible leadership, sound judgment, and grace under pressure, particularly during the difficult period in the mid-1980s,” said Bob Iger, Disney’s current CEO.
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Proprietary OC Housing News home purchase analysis
$749,000 …….. Asking Price
$338,000 ………. Purchase Price
5/16/1990 ………. Purchase Date
$411,000 ………. Gross Gain (Loss)
($27,040) ………… Commissions and Costs at 8%
$383,960 ………. Net Gain (Loss)
121.6% ………. Gross Percent Change
113.6% ………. Net Percent Change
3.5% ………… Annual Appreciation
Cost of Home Ownership
$749,000 …….. Asking Price
$149,800 ………… 20% Down Conventional
3.50% …………. Mortgage Interest Rate
30 ……………… Number of Years
$599,200 …….. Mortgage
$136,531 ………. Income Requirement
$2,691 ………… Monthly Mortgage Payment
$649 ………… Property Tax at 1.04%
$0 ………… Mello Roos & Special Taxes
$187 ………… Homeowners Insurance at 0.3%
$0 ………… Private Mortgage Insurance
$0 ………… Homeowners Association Fees
$3,527 ………. Monthly Cash Outlays
($419) ………. Tax Savings
($943) ………. Equity Hidden in Payment
$166 ………….. Lost Income to Down Payment
$207 ………….. Maintenance and Replacement Reserves
$2,538 ………. Monthly Cost of Ownership
Cash Acquisition Demands
$8,990 ………… Furnishing and Move In at 1% + $1,500
$8,990 ………… Closing Costs at 1% + $1,500
$5,992 ………… Interest Points
$149,800 ………… Down Payment
$173,772 ………. Total Cash Costs
$38,900 ………. Emergency Cash Reserves
$212,672 ………. Total Savings Needed
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