You are here
We are over the hump.
Believe it not, more than half the year has passed, and we are excited to keep pushing forward amid a recovering housing market. Helping us in that push is a decision made July 8 by our elected officials, who appropriately (at least in our opinion) denied a proposal to limit the square footage, or Total Development Square Footage (TDSF), on new construction.
The plan would limit single-family residential dwellings to 8,500 square feet, but the goal of such a limit — whether to curb short-term rentals or protect neighborhood character or something else — was never agreed upon.
The Planning Commission narrowly recommended the proposal to the City Council, but the council adamantly voted it down (4-1 vote, with Mayor Jefferson Wagner in favor).
This is great news for Malibu property owners, especially as the community readies for so many rebuilds. Can you imagine that after your home burned to the ground you are limited in the scope of your rebuild?
If the measure passed, City staff said it would consume a lot of time and resources. With set (and more important) priorities facing the City, we are pleased the council recognized the plan’s flaws.
Issues of neighborhood character and short-term rentals, among others, do need to be addressed, and we trust the City will be thoughtful in doing so.
Much thanks goes to the advocate group Together for Dwelling Size Fairness, which led the uprising against the plan.
All’s well that ends well!
Seeing as the year is halfway through, let’s take a look at the January-June sales numbers in Malibu: 56 home sales were completed, with 199 leases being signed. Thirty condo/townhomes were sold, and 18 land sales were made in the year’s first half.
— As told to Joe Coughlin, 22CM Boost, a content-writing division of 22nd Century Media
4 Malibu is a full-service, luxury brokerage specializing in residential, commercial, luxury leasing, property management, design & development. For more information, visit 4malibu.com, call (310) 456-0220 or email Info@4Malibu.com.