Garcetti puts pressure on owners to retrofit as LA is deemed one of the most dangerous places to build

The next major natural disaster could hit the city well before the 25-year retrofit deadline

Sep.September 25, 2017 03:00 PM
Eric Garcetti and damage from the 1994 Northridge earthquake (Credit: Getty, Wikimedia Commons)

In light of the deadly earthquake in Mexico on Sept. 19, Los Angeles Mayor Eric Garcetti is recommending owners and local governments move fast to retrofit at-risk properties, the Los Angeles Times reported.

The law requires owners to retrofit flimsy concrete and wooden apartment buildings 25 years after the city issues an order for a seismic evaluation. Garcetti is now urging the changes happen well before then.

An amended law, he says, could ease the financial burden by allowing owners to obtain loans for the retrofits. Costs for amending a property can exceed $1 million for a large structure.

Garcetti’s words came just days after Los Angeles was deemed the city with the third-greatest risk of losing housing from natural disasters, according to a new report from Attom Data Solutions.

Demand for homes at risk of potential danger has grown as more homeowners choose mountain views over practicality, the study found. The threat of natural disaster has not impacted L.A. home prices, as opposed to areas like Florida and Louisiana where the threat of floods has caused home appreciation to weaken. [LAT] [SCPR]Natalie Hoberman

Related Articles

Nury Martinez and the project site (Credit: LADCP and Getty Images)

Next LA Council president has backed big development in her district

Robert Reffkin and 11726 San Vicente Boulevard (Credit: Google Maps and iStock)

Compass shutters second LA office

LA Mayor Eric Garcetti (Credit: Wikipedia)

More housing development could be coming to SoCal coast

A rendering of the project

Landlord sues Kuwait-based burger chain for failing to comply with USA Patriot Act

Playa del Oro and Decron Properties CEO David Nagel

Decron Properties lands $125M refi for Playa del Rey multifamily complex

WS Communities Development Manager Taylor Glieden and a rendering of the 501

WS Communities targets Santa Monica with plans for 4th resi development

Los Angeles, California (Credit: iStock)

For LA developers and homeowners, smog could be the new wildfire

City signs off on another emergency homeless shelter

City signs off on another emergency homeless shelter