Posted on 08/08/2025 5:00:25 PM PDT by BenLurkin
In the charred aftermath of Malibu’s January wildfires, one buyer has been moving in silence.
While much of La Costa Beach remains a barren stretch of sand, a foreign investor has quietly acquired nine oceanfront lots — spending more than $65 million to secure some of the most coveted parcels along the Pacific Coast Highway, according to Realtor.com.
Working through luxury agents Weston Littlefield and Alex Howe of the Weston James Group, the buyer is targeting properties with at least 40 feet of frontage, betting that once the coastline is rebuilt, demand from wealthy buyers will return in force.
...
Rebuilding is a long and costly process. The city estimates permit approvals can take 12 to 24 months, and coastal construction carries steeper requirements than inland projects.
Fees start at $11,579 for planning alone, before additional costs for site reviews or variances. Homes must generally match the original footprint, though up to 10% more square footage is allowed.
Developers must also meet FEMA floodplain standards, replace noncompliant seawalls and install Advanced Onsite Wastewater Treatment Systems instead of septic tanks.
Timber piles are banned, and narrow La Costa Beach parcels are subject to strict view protections. The city has set up a Malibu Rebuild Center to help owners navigate the process, both online and in person.
(Excerpt) Read more at nypost.com ...
those wild and wacky chinese gobbling up more of our land while Americans are priced out of living a modest life of affording a home to raise a family
/
Which is another reason I call the commiecrats liar
East Beijing
( Formerly known as Sacramento)
Pelosi the mob daughter
Shifty the perv liar
Gavin the ashes dancer
and most of the rest are busy selling us all to the CCP as fast as they can grift
Which is another reason I call the commiecrats lair
East Beijing
( Formerly known as Sacramento)
Chi-com?
Yep 👍
>> dysfuncational shtthole
😂👍🏻 Couldn’t have said it any better myself.
I do not understand how noncitizens can be allowed to own American real estate or farms.
The commies got away with it in Lahaina and they’re getting away with it here.
If I had the dough I’d do it to. it’s a smart move to buy it up. It’s not going to get cheaper.
If you figured value of the land....$65-M doesn’t really buy that much. It can’t be more than 20 lots. Also, the guy is stuck paying property tax...while he waits on permits and building process.
Clearly, CA politicians have to start preparing other bribe sources now that the “high-speed rail line” bribe money is about to dry up permanently...
With many thousands of acres of former residential neighborhoods in total ruin thanks to those orchestrated fires, the need for new forms of “bribe generation and management” becomes a top-priority political necessity...
“If I had the dough I’d do it to. it’s a smart move to buy it up. It’s not going to get cheaper.
“Prices started increasing a month to 6 weeks ago in N. California.”
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.