A foreign investor has purchased nine oceanfront lots along the Pacific Coast Highway in Malibu for over $65 million. The lot selection focuses on properties exceeding 40 feet of frontage. The rebuilding process is lengthy, with a permit approval timeline ranging from 12 to 24 months, constrained by strict regulations including FEMA flood plain requirements. The investor aims to develop a unique series of luxurious beachfront homes that will appeal to the ultrawealthy, expecting groundbreaking in at least 18 months. This venture presents an exclusive opportunity for affluent buyers to own brand-new luxury homes in Malibu.
The foreign investor has purchased nine lots along the Pacific Coast Highway for over $65 million, focusing on properties with more than 40 feet of frontage.
Rebuilding in Malibu takes significant time, with a 12- to 24-month wait for permit approvals and strict regulations, including FEMA flood plain requirements.
The investor intends to build a series of luxurious beachfront homes in Malibu, featuring various amenities, including full-size swimming pools.
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