Letter to Editor: Will Developers Finish Finish Project They Start?

Letter to the Editor: 

The Zillow blog reports home values climbed nationwide 5.7%; and, in the Los Angeles area 6%. But the blog also cautions some areas are already unaffordable with residents’ incomes contributing more and more to mortgage payments.

Los Angeles Times reported home prices on the rise also but called it “an unsustainable pace”. Last year, nationwide, the prices increased 11% and in Los Angeles 23%, according to the Times.San Francisco Chronicle reports sales of homes exceeding $1 million increased 7.8% over the last 12 months, but also cautions new home sales fell 14.5% last month. 

The somewhat convoluted statistics and reports make me concerned when I see new development occurring in our hillside areas. With the cost of developing these hillside properties that include expensive environmental impact reports ($100,000 +) delay in grading to review sensitive areas, water delivery costs, sewer lines and review of endangered species I wonder about the ability of developers in our area to finish the projects they start. Not to mention selling these homes with interest rates rising and the expectation they will continue to rise in the coming year.

The land in San Dimas proposed for development by NJD I understand is back and on its way for approval. As you may recall this is the same developer that wanted to do a land swap to build 300 new homes at what is now the Glendora Country Club. The Glendora Country Club  was proposed to be located within the Glendora foothills.

The Gordon Mull property is also being considered again for development of 18 homes. I know ultimately these areas may be built out. But in this volatile market, I would hate to see the projects begin, lose steam and fail because of the high cost of development and high interest rates leaving our mountains deeply scarred. 

There may not be much more “Pride of the Foothill” lift. Glendora is a special place and I would encourage my fellow Glendora-ans to let your elected officials know we want to keep Glendora “Pride of the Foothill.” 

Sincerely, 

Mrs. Silvia Bettea