Wayne Ratkovich, a renowned real estate developer from Los Angeles who dedicated his career to improving the quality of urban life in his hometown, passed away on Sunday, Sept. 24th at Cedars-Sinai Medical Center. He was 82 years old and died due to complications from an aortic aneurysm.
Throughout his successful career, Ratkovich had a unique ability to identify overlooked opportunities and see potential in neglected areas. He is credited with transforming 18 historic buildings across Los Angeles into thriving landmarks, starting with the James Oviatt Building in downtown LA.
Ratkovich was best known as the founder and CEO of The Ratkovich Company (TRC), which has been committed for over four decades to “profitably produce developments that improve the quality of urban life.” In a 2015 interview with the Los Angeles Times , he shared his philosophy on business and life: “We strive to be an example of admirable capitalism by operating without government subsidies and fulfilling our mission through profitable developments that enhance city living.”
In recent years, Ratkovich stepped down from leading TRC day-to-day but remained involved as its founder while Brian Saenger took over as president & CEO. Saenger expressed gratitude for having learned under Wayne’s leadership: “I am honored by this once-in-a-lifetime opportunity given by Wayne himself – someone I couldn’t have asked for better mentorship,” said Saenger. “His impact on DTLA’s landscape is undeniable; we will continue building upon it while upholding kindness & vision – two traits he embodied.”
Ratkovich received numerous accolades throughout his illustrious career including being named Life Trustee by Urban Land Institute (ULI) – only one among fifteen members ever awarded this honor since ULI’s inception eighty years ago! Additionally he served previously as Global Board Director at ULI alongwith being National Trust Emeritus member.
“Wayne Ratkovich was a true visionary in urban development, city building and place-making. He embodied everything that a real estate developer should be,” said Clare De Briere, Americas Chair & Global Board Director of ULI. “His focus on creating people-centric places – thoughtful, beautiful, wondrous and peaceful – made everyday life better for everyone who experienced them.”
Ratkovich also received the Distinguished Businessperson Award from USC Architectural Guild as well as Design Advocate Develop Award by American Institute of Architects’ Los Angeles Chapter. Last year he was honored with Rotary Club’s Distinguished Citizen Award which recognizes an Angeleno exemplifying their motto ‘service above self.’
He is survived by his wife JoAnn; son Milan; daughters Anna & Lindsay alongwith five grandchildren.
A private memorial service will be held soon to honor Wayne’s legacy.
The news about Wayne Ratkovich passing away at 82 has left the entire community mourning this great loss. His contributions to improving urban life in Los Angeles will always be remembered and cherished.
