There are two main reasons developers will still build in Santa Monica. First is to capitalize on this one-time bonanza of essentially no code and quality constraints. The developers have won their battle to be able to build anything, anywhere, and now just need to finally conquer the Coastal zone (where the real profits are), which is the last area that still has some protection from overdevelopment. Scott Weiner is even now trying to gut the Coastal Zone’s development controls. This total State theft of local power may not last forever, especially when the real limits to growth (global warming, water, and power shortages, seismic and sea level events, etc.etc.) start to kick in and when the inevitable resident backlash appears.

Deep pockets needed

Second, deep-pocketed developers take the long view

Read More: https://smmirror.com/2024/06/sm-a-r-t-column-the-up-zoning-scam-part-2/