July 6, 1925 – The Disney Brothers Make Down Payment on Hyperion Studios
On July 6, 1925, Walt and Roy Disney made a down payment on Lot 21 at 2719 Hyperion Avenue, the area that would eventually become the early Walt Disney Studio (also known as Hyperion Studio). The down payment was $400, which is almost $5,500 in 2016 rates. A larger studio was necessary after the success of Oswald the Lucky Rabbit, as well as making sure that the brothers’ enterprise would pay off for their growing families. After a final payment of $600 in August, the brothers and their staff would move into the completed studio in January 1926 from the Kingswell Avenue location. Some of the buildings were eventually relocated when the studio moved to Burbank, but the rest were razed in 1966, leaving no trace of the studio’s humble beginnings.