Wayne Ratkovich, a renowned real estate developer based in Los Angeles who dedicated his career to enhancing the urban landscape of his hometown, passed away on Sunday, September 24th at Cedars-Sinai Medical Center. He was 82 years old and succumbed to complications from an aortic aneurysm.
Throughout his illustrious career, Ratkovich possessed a unique talent for identifying overlooked opportunities that others failed to see. He had a knack for envisioning the future potential of neglected historic buildings and is credited with revitalizing numerous landmark projects in the Los Angeles area. His first major redevelopment project was the James Oviatt Building in downtown LA.
Ratkovich’s legacy lies primarily with The Ratkovich Company (TRC), which he founded over four decades ago with a mission “to produce profitable developments that enhance urban life.” In an interview with the Los Angeles Times in 2015, he shared his philosophy on business and life: “We strive to be exemplary capitalists – operating without government subsidies – while fulfilling our mission of improving urban living standards through profitable development.”
In 2020, Ratkovich stepped down as CEO but remained involved as founder while Brian Saenger took over as president and CEO. Saenger expressed gratitude for having been given such an incredible opportunity by Wayne himself: “I couldn’t have asked for anyone better than Wayne to learn from,” said Saenger. “His impact on LA can be seen throughout DTLA and other historic buildings across our region. His legacy will live on through TRC’s projects.”
The Urban Land Institute recognized Ratkovich’s contributions by naming him one of only fifteen Life Trustees since its inception eighty years ago; previously serving as member of their Global Board of Directors along with being Trustee Emeritus at National Trust for Historic Preservation.
Clare De Briere , Americas Chair & Global Board Member at ULI praised him saying “Wayne Ratkovich was a true visionary in urban development, city building and place making. He embodied everything that a real estate developer should be – creating thoughtful, beautiful, wondrous places for people to enjoy. His leadership and values have been instrumental in driving ULI’s mission over his 50 years of membership.”
Ratkovich received several awards including the Distinguished Businessperson Award from USC Architectural Guild & Design Advocate Develop Award from LA Chapter of American Institute of Architects. In addition he was presented with Rotary Club’s Distinguished Citizen Award last year which recognizes an Angeleno who embodies their motto “service above self”.
He is survived by his wife JoAnn; son Milan; daughters Anna & Lindsay along with five grandchildren.
A private memorial service will be held soon to honor Wayne Ratkovich’s life and achievements.
