The Los Angeles Times published an article showing new draft maps of earthquake faults in Santa Monica, Beverly Hills and the Westside that raises the prospect of development restrictions in areas directly above the fissures.
These fault maps by the California Geological Survey have been long-awaited and are part of the state's effort to locate fault lines so that new buildings are not constructed on top of them, and to improve seismic safety measures. The state's actions currently do not affect existing buildings, but structures on and close to these faults have a high risk of major damage.
These concerns are drawn from the 1971 Sylmar earthquake that ripped apart many homes that sat directly on the San Fernando fault, resulting in 80% of homes suffering moderate to significant damage.
Once the maps are finalized, state law will require anyone who is seeking to build on a fault zone will be required to hire a geologist to investigate the construction. Local building officials will have the final authority to ensure structures are built away from faults, taking extra precaution.
To read the full article on The LA Times, click here. With recent construction on the Westside, how do you think these will affect current and future developments?
About California Geological Survey (CGS)
CGS is dedicated to the fulfillment of its mission to provide scientific products and services about the state's geology, seismology and mineral resources that affect the health, safety, and business interests of the people of California. Learn more about CGS here.
About Arixa Capital
Arixa Capital is a private money lender founded in 2006 with a focus on short-term bridge loans for California's real estate developers, renovators, and investors. Through our own discretionary funds, Arixa Capital strives to provide streamlined decisions and tailored solutions for each project to deliver a client experience that is unmatched in our industry. Arixa Capital offers residential and commercial real estate acquisition and renovation loans from $100k to $10 million per property.
To learn more about Arixa Capital, visit www.ArixaCapital.com or call (310) 905-3050.