The smoke had barely cleared from the devastating Eaton Fire when signs started popping up on the charred remains of homes: Altadena is not for sale.
But just a month after the wildfire tore through the foothill community north of downtown L.A., destroying over 9,400 homes and scorching 14,000 acres, the first vacant lot sold—$550,000 in cash, a full $100,000 over asking.
So far, 14 properties in fire-ravaged Altadena have been sold. At least seven went to developers and investors—some from outside the U.S.—according to Jasmin Shupper, founder of the nonprofit Greenline Housing Foundation. And every single one of them was an all-cash offer.
That’s what has longtime residents worried. Many want to rebuild and restore Altadena’s unique, small-town character—its creative energy, diverse neighborhoods, and quirky charm. But as deep-pocketed investors swoop in, that vision feels like it’s slipping away.
Greenline is stepping in to fight back. The nonprofit has been securing long-term, temporary housing for displaced residents and negotiating to buy burned lots to prevent corporate land grabs.
Earlier this month, Greenline closed on a property for $520,000 and is in talks with several other sellers. Essentially, the foundation is acting as a land bank—a strategy used in cities like Atlanta, St. Louis, and Cleveland to acquire land before developers can, keeping it available for local nonprofits and affordable housing.
For families who lost everything, deciding whether to rebuild is heartbreaking. Before the fire, Altadena was a haven—a vibrant, diverse community where artists, small business owners, and even small horse ranchers could put down roots.
Homeownership was especially significant here. Unlike much of L.A. County, Altadena wasn’t subject to redlining during the Civil Rights era, allowing Black families to buy homes and build generational wealth. Over half of the community’s residents were people of color, and Black homeownership in Altadena stood at an impressive 80%—almost double the national average.
But the fire hit Black households hardest. A UCLA study found that more than 60% of Black homes were in the burn area, compared to 50% for non-Black residents. Nearly half of Black households were either destroyed or severely damaged.
And now, the housing market isn’t making things any easier. Even before the fire, Altadena’s median home price had already topped $1 million between 2019 and 2023, according to Realtor.com. With a median income of $129,123, according to the U.S. Census, buying back into the neighborhood could be out of reach for many.
For longtime Altadena residents, this moment feels like a crossroads—between rebuilding what was lost or watching their community be reshaped by forces beyond their control.
