Wayne Ratkovich, a native Angeleno and the iconic real estate developer behind The Ratkovich Co., died on Sept. 24. He was 82.
During his illustrious career, Ratkovich worked on 18 historic buildings in L.A., starting with the James Oviatt Building in downtown. Ratkovich, who had been doing work as an industrial developer, purchased the 12-story building in 1977 from the Archdiocese of Los Angeles. Instead of demolishing the property, Ratkovich renovated the property.
From there, Ratkovich worked on other historic properties, including the Pellissier Building and the adjoining Wiltern Theatre in Miracle Mile; Chapman Market; 5900 Wilshire, a 30-story office tower across from the Los Angeles County Museum of Art; the 40-acre mixed-use development known as The Alhambra; The Bloc, the reimagined former Macy’s Plaza in downtown; and the Hercules Campus in Playa Vista, an 11-building asset of former Hughes Aircraft Co. hangars.
“He saw the value in restoring old buildings and the appreciation that tenants had for those buildings. He enjoyed the creativity as well … it was his hobby, it was his passion, he loved what he did for a living and few of us can say that but he could say that. He loved seeing things that people missed,” said Brian Saenger, president and chief executive of The Ratkovich Co.
“The greatest thing Wayne did is shine a bright light on historic buildings in downtown and beyond,” Linda Dishman, president and chief executive of the Los Angeles Conservancy, added in a statement. “He was a pioneer in transforming underutilized buildings into places people wanted to go, including the Oviatt, Fine Arts and the Wiltern. He was not only a champion of preservation in Los Angeles but also as a Trustee of the National Trust for Historic Preservation. He was a towering figure and will be greatly missed.”
TRC’s latest project is West Harbor, a 42-acre waterfront site in San Pedro.
Ratkovich transitioned out of the CEO role at Ratkovich in 2020, leaving Saenger in charge. Saenger called Ratkovich a “legend” who made a huge difference in L.A. both as a developer and in the community.
Saenger said Raktovich always aimed to “improve the quality of urban life,” something the company would continue to do with its future projects.
Getting his start
Ratkovich grew up in L.A. He attended UCLA, playing football as a defensive end. When he graduated, he became a real estate broker with Coldwell Banker before going into development. He served in the U.S. Army Reserve from 1967-1971.
Ratkovich was also involved in philanthropic causes, such as serving on the Homeboy Industries board and executive committee. He was a founding board member of the Downtown Women’s Center and the founding board chair of Wende Museum in Culver City.
“Wayne Ratkovich was known for big real estate developments, but his heart and passion for the people of Los Angeles was even bigger,” Father Greg Boyle, S.J., founder of Homeboy Industries, said in a statement. “He was more than a supporter – Wayne was a guiding light and a true role model for what a civic leader should be, and we were lucky to have him as a board member who rolled up his sleeves and helped us implement the physical expansion of Homeboy across Los Angeles. He was one of a kind, and he will be truly missed.”
Ratkovich, who passed due to complications from an aortic aneurysm, is survived by his wife, JoAnn, son Milan, daughters Anna and Lindsay, and five grandchildren.
