Opponents of SaMo anti-density campaign raise nearly $1M

Groups opposing the LUVE ballot initiatives garnered financial support from private residents and development stakeholders

TRD LOS ANGELES /
Oct.October 06, 2016 12:15 PM

If it all comes down to money, the pro-development lobby has a leg up in Santa Monica.

Opponents of LUVE, the ballot initiative that would require all developments taller than two stories to gain community approval by popular vote, had raised $947,000 as of late September, thanks to private residents and deep-pocketed developers, according to the Santa Monica Lookout.

By comparison, Residocracy, the group behind the measure, had raised just $46,000, according to disclosure statements.

The two main opposition groups are Santa Monica Forward and Housing and Opportunity for a Modern Economy (HOME). The former had nearly 170 donations amounting to $585,000. Most contributors gave about $100, but there were a handful of development firms that wrote hefty checks, including Hudson Pacific Properties and Ocean Avenue LLC of Miramar Hotel, both of which gave $49,000. HOME had three main donors: NMS Properties, Century West Partners and the owner of the proposed mixed-use project at 525 Colorado Avenue. Century West gave $75,000.

Residocracy’s funds were raised mostly through small donations but include three larger contributions: $5,000 from investor Ishak Bibawi, $5,000 from Venice businessman Mark Sokol and $3,135 from retiree Thomas Epley. [SML]Cathaleen Chen


Related Articles

arrow_forward_ios
The 5 priciest residential sales

Here are the 5 priciest resi sales in LA County last week

Governor Gavin Newsom and Senator Nancy Skinner (Credit: Getty Images and iStock)

Developers rejoice: Newest state law aims to boost housing production

Assemblyman David Chiu and Gov. Gavin Newsom (Credit: Wikipedia and iStock)

California passes landmark rent control law

Clockwise from top left: 1155 Angelo Drive, 1116 Laurel Way, 613 N. Sierra Drive, 32453 Pacific Coast Highway and 705 N. Arden Drive (Credit: Redfin)

Beverly Hills dominates list of top resi sales in LA County last week

Lightstone’s Eugene Rozovsky, Neil Shekhter and a rendering of 1650 Lincoln Boulevard

Lightstone provides $44M loan to Shekhter-owned WS Communities

Pierce Brosnan and his new home in Santa Monica

“The world is not enough,” but for one former James Bond this Santa Monica pad is

Witkoff Group’s Steve Witkoff and a rendering of the project at 500 Broadway

Witkoff Group snags construction loan for Santa Monica luxury development

Ron Galperin and an overview of LA (Credit: iStock)

LA owns thousands of properties, many of them vacant. LA’s controller has an idea to spur development

arrow_forward_ios