In the wake of the Palisades Fire, New Zealand billionaire brothers have purchased 16 beachfront lots in Malibu, California.
The fire, which occurred a year ago, destroyed over 700 homes, including 300 along the Pacific Coast Highway. Despite the devastation, only 22 building permits have been issued in Malibu, compared to more than 1,300 in nearby Pacific Palisades.
Malibu City Councilman Steve Uhring has expressed concerns about the potential impact of wealthy developers buying up property. He worries that they may combine lots to build large, 20,000-square-foot homes, which would serve as second or third homes for non-residents rather than housing for permanent community members. Uhring emphasized the importance of having a community of homeowners who are invested in the area and actively participate in community activities. “It’s gotta be a community that has a group of homeowners who live here, who are invested in the community, who participate in what goes on in the community, and that’s what will make us a good city again,” Uhring said.
The slow progress in rebuilding has raised concerns about the future of Malibu’s community and the potential for significant changes in its residential landscape.
Recent Comments