A year after the Eaton Fire, public permits—and at least one completed home asking $1.9 million—are bringing into view how corporations are reshaping the Los Angeles community.
The debris had barely stopped smoldering before the bidding began. After the Eaton Fire leveled more than 6,000 residential buildings in Altadena in January of 2025, home developers began making offers on burned lots, many of which had belonged to families for generations. As a significant shift of land ownership to corporations began taking place, one looming question was, what’s going to get built? Months later, the answer is no longer theoretical. It’s visible in public permit records and new construction.
A review of publicly available filings shows that 25 of the 59 corporate-purchased properties identified in Dwell’s original reporting on Altadena-area land sales in July are now actively moving through the rebuild process. (Between Altadena and Pacific Palisades, corporations have now purchased 44.6 percent of fire-damaged properties, about twice the national average of corporate homeowners. ) At least one newly constructed home has already hit the market. Together, these projects offer a perspective on how post-disaster housing is taking shape in a neighborhood once known for its historical architecture and deep-rooted families. More importantly, they hint at who may be able to return to Altadena once rebuilding is complete: will it be longtime residents—many still in rentals, navigating insurance claims and uncertainty—or an entirely new community?
Of the corporations that moved swiftly after the fires to buy lots, three currently dominate the permits: Ocean Development, an L.A.-based builder; NP Altadena I, LLC, operated by San Diego–based New Pointe Communities Inc.; and Black Lion Properties, LLC, a newer, more experimental player with ties to the neighborhood. Each is rebuilding differently with its own strategy for market-rate housing, regardless of who may be able to afford it.
Three builders, three strategies
Ocean Development holds among the largest share of active permits, and its apparent strategy to create "Like-for-Like" homes is the least surprising, given the City of L.A.’s expedited timeline for such projects that closely mirror what stood before.
Under the Eaton Fire rebuild framework, a "Like-for-Like" replacement can be approved without discretionary review by the city as long as the building footprint does not increase by more than 10 percent or 200 square feet, whichever is greater. In practical terms, that can shave months off a timeline. As a result, most of Ocean’s plans closely resemble what existed before the fire, at least on paper: single-family houses generally ranging from approximately 1,700 to 3,200 square feet, often with garages and modest patios.
Photo: Peter Oumanski
539 Punahou Street is under construction by Ocean Development, an L.A.-based developer focusing on "Like-for-Like" rebuilds.
Photo: Yoonj Kim
But faster approvals don’t automatically translate to faster—or cheaper—construction. Permit data shows build estimates with an average cost of $469,750, with market value for homes at these sizes ranging from $1.375 million to $2.5 million. But it’s still too early to say what these homes will list at. A recent drive past their sites indicates that many have already broken ground, with a few appearing close to completion. Ocean Development has not responded to a request for comment.
NP Altadena’s approach also emphasizes speed, but does so by leveraging standardization. The developer created a standardized single-story plan to use across 15 lots, with minor site-specific adjustments such as front elevations in three distinct styles—craftsman, farmhouse, and Spanish/Santa Barbara. This strategy allows NP Altadena to build across several sites with a single review process.
Photo: Peter Oumanski
See the full story on Dwell.com: Here Are the Homes Developers Are Building in Altadena
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