{"id":5919,"date":"2025-09-23T08:44:28","date_gmt":"2025-09-23T08:44:28","guid":{"rendered":"http:\/\/localhost\/AIS\/AIS\/2025\/09\/23\/rebuilding-together-the-path-to-recovery-for-la-county-s-properties\/"},"modified":"2025-09-23T19:44:13","modified_gmt":"2025-09-23T19:44:13","slug":"rebuilding-together-the-path-to-recovery-for-la-county-properties_","status":"publish","type":"post","link":"https:\/\/tst.wordpress.realogydev.com\/terracoastalescrow\/rebuilding-together-the-path-to-recovery-for-la-county-properties_\/","title":{"rendered":"Rebuilding Together: The Path to Recovery for LA County Properties"},"content":{"rendered":"<div>\n<p>The sheer scope of devastation wrought by the fires in the greater Los Angeles area are hard to fathom. While \u202f<a href=\"https:\/\/www.rismedia.com\/2025\/01\/21\/managed-retreat-la-real-estate-professionals-share-harrowing-accounts-of-living-through-california-wildfires\/\" target=\"_blank\" rel=\"noreferrer noopener\" data-sf-ec-immutable=\"\">entire neighborhoods<\/a>&nbsp;\u202fof residential homes have literally become scorched earth, and local brokerage leaders have \u202f<a href=\"https:\/\/www.rismedia.com\/2025\/01\/13\/brokerage-leaders-devastated-fires-defiant-we-will-rebuild\/\" target=\"_blank\" rel=\"noreferrer noopener\" data-sf-ec-immutable=\"\">vowed to rebuild<\/a>, CoStar Group recently released a report detailing the collateral destruction of commercial and multifamily properties.\u202f&nbsp;<br \/>&nbsp;<br \/><strong>Key overall takeaways&nbsp;<\/strong><\/p>\n<\/div>\n<div>\n<ul role=\"list\">\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{\" data-aria-posinset=\"1\" data-aria-level=\"1\" role=\"listitem\">\n<p>Approximately 1,472 commercial real estate properties are believed to fall within the incident and evacuation areas, comprising more than 28 million square feet at an estimated value of $9.8 billion.&nbsp;<\/p>\n<\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{\" data-aria-posinset=\"1\" data-aria-level=\"1\" role=\"listitem\">\n<p><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\">Retail and multifamily properties have the largest exposures, with 512 and 480 buildings, respectively.&nbsp;<\/span><\/p>\n<\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{\" data-aria-posinset=\"1\" data-aria-level=\"1\" role=\"listitem\">\n<p><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\"><\/span><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\">The Palisades fire included 786 commercial properties with a higher percentage of multifamily properties within the incident perimeter than the Eaton fire. Estimated property values total $7.7 billion.&nbsp;<\/span><\/p>\n<\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{\" data-aria-posinset=\"1\" data-aria-level=\"1\" role=\"listitem\">\n<p><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\"><\/span><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\">The Eaton fire included 704 commercial properties and an estimated $2.1 billion in commercial property value.&nbsp;<\/span><\/p>\n<\/li>\n<\/ul>\n<\/div>\n<div>\n<p>The owners of the Aon Center, led by investment firm Carolwood, donated office space at the 62-story downtown Los Angeles tower to businesses displaced by the fires. The building is roughly 73% occupied, a figure that has climbed slightly since the landlord took over the building at the end of 2023. The 27% vacancy rate comes as downtown Los Angeles struggles with the lack of office demand that has persisted across a number of major cities around the country as we face higher interest rates combined with hybrid work practices.&nbsp;<br \/>&nbsp;<br \/>The majority of impacted multifamily properties are small and aging, with 75% of the 434 apartment properties in the fire zones having fewer than 15 units. The average property age is 74 years, and most lack modern amenities like clubhouses, fitness centers and on-site parking.&nbsp;<br \/>&nbsp;<br \/>Many small property owners may lack the capital or experience to redevelop, increasing the risk of permanent housing loss. Some parcels may be redeveloped into single-family homes, further tightening the multifamily supply.&nbsp;<br \/>&nbsp;<br \/><strong>Limited new construction&nbsp;<\/strong><br \/>&nbsp;<br \/>Only 21,000 units are currently under construction, with just 6,000 forecasted for delivery in 2025, according to CoStar. With over 7,300 multifamily units impacted by the fires, replacing lost housing could take years, as LA&rsquo;s lengthy approval process makes rapid redevelopment unlikely.&nbsp;<br \/>&nbsp;<br \/>The fires have displaced an estimated 22,300 households (15,000 single-family homes plus 7,300 multifamily units), the CoStar analysis found. LA has averaged 8,200 units of demand annually over the past decade, but demand in 2025 could spike to 30,500 units&mdash;matching the record set in 2021.&nbsp;<br \/>&nbsp;<br \/>With only 6,000 new units projected for 2025, vacancy rates could fall below 4%, driving significant rent pressure, according to CoStar.&nbsp;<br \/>&nbsp;<br \/><strong>Executive Orders Currently Providing Aid&nbsp;<\/strong><\/p>\n<\/div>\n<div>\n<p>According to a release on his website, Governor Newsom has issued a number of executive orders to help aid in rebuilding and recovery, including:&nbsp;<\/p>\n<\/div>\n<div>\n<ul role=\"list\">\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{\" data-aria-posinset=\"1\" data-aria-level=\"1\" role=\"listitem\">\n<p>Providing tax relief to those impacted by the fires, California postponed the \u202f<a href=\"https:\/\/mclist.us7.list-manage.com\/track\/click?u=afffa58af0d1d42fee9a20e55&amp;id=42d68334f4&amp;e=0b26ba1b5c\" target=\"_blank\" rel=\"noreferrer noopener\" data-sf-ec-immutable=\"\">individual tax filing deadline<\/a>\u202ffor Los Angeles County taxpayers. Additionally, the state extended the sales and use tax filing deadline for Los Angeles County taxpayers.&nbsp;<\/p>\n<\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{\" data-aria-posinset=\"1\" data-aria-level=\"1\" role=\"listitem\">\n<p><a href=\"https:\/\/mclist.us7.list-manage.com\/track\/click?u=afffa58af0d1d42fee9a20e55&amp;id=92c0ee6b9e&amp;e=0b26ba1b5c\" target=\"_blank\" rel=\"noreferrer noopener\" style=\"font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\" data-sf-ec-immutable=\"\">Streamlining the rebuilding of homes and businesses<\/a><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\">\u202f that were destroyed&mdash;suspending permitting and review requirements under the California Environmental Quality Act (CEQA) and the California Coastal Act.&nbsp;<\/span><\/p>\n<\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{\" data-aria-posinset=\"1\" data-aria-level=\"1\" role=\"listitem\">\n<p><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\"><\/span><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\">Fast-tracking temporary housing, helping \u202f<\/span><a href=\"https:\/\/mclist.us7.list-manage.com\/track\/click?u=afffa58af0d1d42fee9a20e55&amp;id=029834b4db&amp;e=0b26ba1b5c\" target=\"_blank\" rel=\"noreferrer noopener\" style=\"font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\" data-sf-ec-immutable=\"\">provide necessary shelter<\/a><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\">\u202ffor those immediately impacted by the firestorms and making it easier to streamline construction of accessory dwelling units, allow for more temporary trailers and other housing, and suspend fees for mobile home parks.\u202f\u202f&nbsp;<\/span><\/p>\n<\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{\" data-aria-posinset=\"1\" data-aria-level=\"1\" role=\"listitem\">\n<p><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\"><\/span><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\">Mobilizing debris removal and cleanup by \u202f<\/span><a href=\"https:\/\/mclist.us7.list-manage.com\/track\/click?u=afffa58af0d1d42fee9a20e55&amp;id=3c72bcdd5a&amp;e=0b26ba1b5c\" target=\"_blank\" rel=\"noreferrer noopener\" style=\"font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\" data-sf-ec-immutable=\"\">directing fast action<\/a><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\">\u202fon debris removal work and mitigating the potential for mudslides and flooding in areas burned and allowing \u202f<\/span><a href=\"https:\/\/mclist.us7.list-manage.com\/track\/click?u=afffa58af0d1d42fee9a20e55&amp;id=8208f19736&amp;e=0b26ba1b5c\" target=\"_blank\" rel=\"noreferrer noopener\" style=\"font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\" data-sf-ec-immutable=\"\">expert federal hazmat crews<\/a><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\">\u202f to start cleaning up properties in order to allow people to get back to their properties safely.&nbsp;<\/span><\/p>\n<\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{\" data-aria-posinset=\"1\" data-aria-level=\"1\" role=\"listitem\">\n<p><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\"><\/span><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\">Safeguarding survivors from price gouging by expanding restrictions to protect survivors from illegal price hikes on \u202f<\/span><a href=\"https:\/\/mclist.us7.list-manage.com\/track\/click?u=afffa58af0d1d42fee9a20e55&amp;id=b22914fe06&amp;e=0b26ba1b5c\" target=\"_blank\" rel=\"noreferrer noopener\" style=\"font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\" data-sf-ec-immutable=\"\">rent, hotel and motel costs<\/a><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\">, and \u202f<\/span><a href=\"https:\/\/mclist.us7.list-manage.com\/track\/click?u=afffa58af0d1d42fee9a20e55&amp;id=5eee547036&amp;e=0b26ba1b5c\" target=\"_blank\" rel=\"noreferrer noopener\" style=\"font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\" data-sf-ec-immutable=\"\">building materials or construction<\/a><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\">.\u202f&nbsp;<\/span><\/p>\n<\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{\" data-aria-posinset=\"1\" data-aria-level=\"1\" role=\"listitem\">\n<p><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\"><\/span><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\">Getting kids back in the classroom to\u202f<\/span><a href=\"https:\/\/mclist.us7.list-manage.com\/track\/click?u=afffa58af0d1d42fee9a20e55&amp;id=64e7762e11&amp;e=0b26ba1b5c\" target=\"_blank\" rel=\"noreferrer noopener\" style=\"font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\" data-sf-ec-immutable=\"\">quickly assist displaced students<\/a><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\">\u202fin the Los Angeles area and bolster schools affected by the firestorms.&nbsp;<\/span><\/p>\n<\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{\" data-aria-posinset=\"1\" data-aria-level=\"1\" role=\"listitem\">\n<p><span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\"><\/span><a href=\"https:\/\/mclist.us7.list-manage.com\/track\/click?u=afffa58af0d1d42fee9a20e55&amp;id=781bb2c2e6&amp;e=0b26ba1b5c\" target=\"_blank\" rel=\"noreferrer noopener\" style=\"font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\" data-sf-ec-immutable=\"\">Protecting firestorm survivors<\/a>&nbsp;<span style=\"background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit\">\u202ffrom predatory land speculators making aggressive and unsolicited cash offers to purchase survivors&rsquo; property.&nbsp;<\/span><\/p>\n<\/li>\n<\/ul>\n<div dir=\"auto\" id=\"copilot-message-r5d\">\n<div dir=\"auto\">\n<div id=\"chatMessageResponser57\" aria-live=\"assertive\">\n<div>\n<p>Though the road ahead may be long and challenging, the spirit of Los Angeles remains unbroken. Together, we will rebuild homes, restore communities, and create a stronger, more resilient city. The fires may have scarred the landscape, but they have also revealed the unyielding courage and compassion that define us. Let this be a testament to our ability to rise from the ashes and build a brighter future for all.<\/p>\n<p><em>*Adapted from an article published by RISMedia<\/em><\/p>\n<div>\n<p><em>&#8212;&nbsp;<\/em><\/p>\n<\/div>\n<div>\n<p><em>This material is not intended to be relied upon as a statement of the law, and is not to be construed as legal, tax or investment advice. You are encouraged to consult your legal, tax or investment professional for specific advice. The material is meant for general illustration and\/or informational purposes only. Although the information has been gathered from sources believed to be reliable, no representation is made as to its accuracy. Intended for distribution to only one per individual for marketing purposes only on behalf of our company. Not for reproduction.&nbsp;<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The sheer scope of devastation wrought by the fires in the greater Los Angeles area are hard to fathom. While \u202fentire neighborhoods&nbsp;\u202fof residential homes have literally become scorched earth, and local brokerage leaders have \u202fvowed to rebuild, CoStar Group recently released a report detailing the collateral destruction of commercial and multifamily properties.\u202f&nbsp;&nbsp;Key overall takeaways&nbsp; Approximately [&hellip;]<\/p>\n","protected":false},"author":41,"featured_media":6102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"wds_primary_category":0,"footnotes":""},"categories":[51],"tags":[52],"class_list":["post-5919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-agent-resources","tag-culture"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Rebuilding Together: The Path to Recovery for LA County Properties - Terra Coastal Escrow<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tst.wordpress.realogydev.com\/terracoastalescrow\/rebuilding-together-the-path-to-recovery-for-la-county-properties_\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rebuilding Together: The Path to Recovery for LA County Properties - Terra Coastal Escrow\" \/>\n<meta property=\"og:description\" content=\"The sheer scope of devastation wrought by the fires in the greater Los Angeles area are hard to fathom. While \u202fentire neighborhoods&nbsp;\u202fof residential homes have literally become scorched earth, and local brokerage leaders have \u202fvowed to rebuild, CoStar Group recently released a report detailing the collateral destruction of commercial and multifamily properties.\u202f&nbsp;&nbsp;Key overall takeaways&nbsp; Approximately [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tst.wordpress.realogydev.com\/terracoastalescrow\/rebuilding-together-the-path-to-recovery-for-la-county-properties_\/\" \/>\n<meta property=\"og:site_name\" content=\"Terra Coastal Escrow\" \/>\n<meta property=\"article:published_time\" content=\"2025-09-23T08:44:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-09-23T19:44:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tst.wordpress.realogydev.com\/terracoastalescrow\/wp-content\/uploads\/sites\/153\/2025\/09\/gettyimages-1143355576_walkingtrailinla.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"627\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"dkern\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"dkern\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/tst.wordpress.realogydev.com\/terracoastalescrow\/rebuilding-together-the-path-to-recovery-for-la-county-properties_\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/tst.wordpress.realogydev.com\/terracoastalescrow\/rebuilding-together-the-path-to-recovery-for-la-county-properties_\/\"},\"author\":{\"name\":\"dkern\",\"@id\":\"https:\/\/tst.wordpress.realogydev.com\/terracoastalescrow\/#\/schema\/person\/735b64a8fd1ee1ad6a35a0a44aadeb6e\"},\"headline\":\"Rebuilding Together: The Path to Recovery for LA County Properties\",\"datePublished\":\"2025-09-23T08:44:28+00:00\",\"dateModified\":\"2025-09-23T19:44:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/tst.wordpress.realogydev.com\/terracoastalescrow\/rebuilding-together-the-path-to-recovery-for-la-county-properties_\/\"},\"wordCount\":860,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/tst.wordpress.realogydev.com\/terracoastalescrow\/#organization\"},\"image\":{\"@id\":\"https:\/\/tst.wordpress.realogydev.com\/terracoastalescrow\/rebuilding-together-the-path-to-recovery-for-la-county-properties_\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/tst.wordpress.realogydev.com\/terracoastalescrow\/wp-content\/uploads\/sites\/153\/2025\/09\/gettyimages-1143355576_walkingtrailinla.jpg\",\"keywords\":[\"Culture\"],\"articleSection\":[\"Agent Resources\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/tst.wordpress.realogydev.com\/terracoastalescrow\/rebuilding-together-the-path-to-recovery-for-la-county-properties_\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tst.wordpress.realogydev.com\/terracoastalescrow\/rebuilding-together-the-path-to-recovery-for-la-county-properties_\/\",\"url\":\"https:\/\/tst.wordpress.realogydev.com\/terracoastalescrow\/rebuilding-together-the-path-to-recovery-for-la-county-properties_\/\",\"name\":\"Rebuilding Together: The Path to Recovery for LA County Properties - 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