A
LTADENA, Calif. - A growing concern in Altadena is that corporate entities are buying up properties damaged by the Eaton Fire, leaving local homeowners struggling to rebuild. In the past three months, nearly 50% of the 94 post-fire property sales have gone to corporations, not residents.

    A community coalition is working to ensure longtime residents can afford to rebuild and stay in their historic neighborhood. California Senator Sasha Renée Pérez is pushing for $200 million in state funding to support local nonprofits purchasing fire-damaged properties through a land trust.

    The land trust would be controlled by Altadenians and protect the land for future generations, giving families a chance to keep their homes. However, many who have sold their properties are doing so because they can't afford to rebuild, often due to being underinsured or uninsured.

    Activists believe speculators are taking advantage of fire victims' financial hardship. "This is family legacy," said Pastor Anthony McFarland. "If we allow corporations to buy the property, the community will change in three to five years and it won't be this quaint community anymore."

    Zaire Calvin, who lost his home and sister in the fire, emphasized the importance of preserving the community's character. "The land trust will give us a chance to keep that for generations to come," he said.