Big Purchase by City of Malibu on 4/23 18 Council agenda

Malibu City to Buy 29 Acres Along PCH From Perenchio Estate

The $42 Million buyout will prevent commercial development of prime land in developed Malibu

https://www.malibucity.org/AgendaCenter/ViewFile/Item/3217?fileID=4306

The Perenchio estate owns a total of 70 acres in Malibu:
https://www.bloomberg.com/news/articles/2017-11-02/perenchio-estate-selling-malibu-land-and-hoping-for-150-million

NOT PART OF THE DEAL: 25 acres zoned to allow houses on the inland side of PCH immediately west of Trancas Canyon road
http://www.latimes.com/business/realestate/hot-property/la-fi-hotprop-perenchio-malibu-portfolio-20171106-story.html


BELOW: The 19 acre parcel being purchased on the beach side of PCH between Kanan Dume Road and Heathercliff

 

BELOW: 10 acres being bought in Malibu Civic Center