Clarity Blog

August 2, 2010

What are the three biggest stories each week in the world of California land development?  You’ll find them right here each Monday, or follow LP&A all week long on Twitter at @LPALand for up-to-the-minute news and analysis.  This week:

What could you do with this raw land?

1. Builders beginning to buy raw land with eye on market turnaround.

Standard Pacific CEO Ken Campbell made the news recently when he predicted a 2014 housing comeback and said he’s buying raw land in a big way.  That’s a sure sign the supply of already-approved lots is drying up … and it also means there will be a new wave of activism from the environmentalist/NIMBY cabal.  New legislation and policy have prioritized infill development and attempted to make greenfield development neighborhood non grata in California.  That will make entitlement a challenge … but one with great potential financial upsides for those who purchase wisely.

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What are the three biggest stories each week in the world of California land development?  You’ll find them right here each Monday, or follow LP&A all week long on Twitter at @LPALand for up-to-the-minute news and analysis.  This week:

1. Is Developing Alameda Point worth the hassle?

Alameda Point - What Could Have Been

The city of Alameda voted last week to terminate an exclusive negotiating agreement with SunCal for development of the city’s former Navy base, which closed 15 years ago.  SunCal invested nearly $15 million during its four-year process, but was stymied by ever-changing political winds, a city staff with personal agendas and a public that’s not happy without a fight on its hands.  SunCal came on board in 2006 after a partnership of Shea and Catellus got fed up and walked away, which begs the question:  Is developing Alameda Point worth the hassle?  >>Read More

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It appears so, as Santa Monica City Councilman (and favorite son of local environmental groups) Richard Bloom, beat out several OC candidates for the South Coast regional seat on the Commission. Coming up short on the appointment were several sensible choices, including supervisors John Moorlach and Bill Campbell and Huntington Beach City Councilman Keith Bohr. Bloom’s appointment combines with the appointments of two anti-growth commissioners last September: Santa Cruz County supervisor Mark Stone and Oceanside City Council member Esther Sanchez, both committed environmentalists.

We know of at least one land developer whose due diligence questions include, “Is the property in the Coastal Zone.” If the answer is “yes,” forget it; no acquisition.

Two new Coastal Commission appointments by Assembly leader Karen Bass have made that approach seem even more justified, as two open-minded and reasonable Commission members have been replaced by two who raise red … make that green … flags. Let’s let the head of San Diego Coastkeeper frame it up for us:

“I think we have a chance to have the ‘greenest’ commission that we have had
in a long time.”

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