Shelene Hearring is sprinting against big developers to try to buy a slice of Altadena on Lake Avenue, a part of the unincorporated town she sees as crucial to the community\u2019s identity.<\/p>\n
Hearring, who ran Two Dragon Martial Arts Studio for 18 years on Lake Avenue, placed a bid to buy the land after her studio burned down in the Eaton fire in January. The bid was accepted by the landowner this week, and Hearring notified the community that she has until Nov. 25 to raise $600,000 to secure the property.<\/p>\n
\u201cWe want to maintain the sense of community that we used to have,\u201d Hearring said. \u201cLast week big businesses were looking to buy it up. I said no, we gotta have something for our community. We want to get back to where we used to be.\u201d<\/p>\n
Hearring\u2019s case is one of the few instances, and possibly the only one, of an Altadena small business owner attempting to buy property they once rented by launching a GoFundMe<\/a> campaign. When she learned the property was being sold, she realized developers were putting in offers. Now she\u2019s hoping the community will support her efforts to stay in Altadena, as many residents fear the culture and fabric will change as more families move out and developers swoop in<\/a>. <\/p>\n Across Altadena, the Eaton fire destroyed about 9,000 structures. Among them was the Two Dragon Martial Arts Studio, which one of Hearring\u2019s family members photographed going up in flames. Today the lot has been cleared of debris and sits empty. It\u2019s one of many Black-owned businesses<\/a> lost in the fire. <\/p>\n The property at 2490 N. Lake Ave. had housed Hearring\u2019s martial arts studio, a nail salon and other businesses. Before that the building had been the Altadena sheriff\u2019s station, making it a community landmark, she said. <\/p>\n Hearring, who grew up in Altadena, also lost the home she was renting, forcing her to bounce from hotel to hotel until she found stable housing in Arcadia. As soon as she could, she started teaching classes outside at a park to maintain a sense of normalcy, until she secured a space to teach in Altadena. That effort, helped by a fundraising campaign, allowed her to keep paying staff and pay down loans she took out to keep the business afloat during the pandemic. <\/p>\n Altadena has been flooded by investors buying up properties. Melissa Michelson, co-founder and lead organizer of the Altadena Not for Sale movement, is tracking what\u2019s listed, bought and sold. So far, of the 289 properties that have been sold, 168 were bought by limited liability investors and private equity firms, as opposed to 93 purchased by individuals, she said.<\/p>\n \u201cThe vultures are out there swarming,\u201d Michelson said, referring to developers and investors looking to turn a profit following the devastation. \u201cThey\u2019re not going away.\u201d<\/p>\n Among the more prominent buyers has been Altadena local Edwin Castro<\/a>, who won a $2-billion Powerball lottery jackpot in 2022 and has been purchasing empty lots under Black Lion Properties LLC, spending $10 million on 15 lots, according to the Wall Street Journal<\/a>. Castro told the Journal he wants to lead the rebuilding effort in Altadena and intends to sell to families. <\/p>\n \u2018The vultures are out there swarming.\u2019<\/p>\n \u2014 Melissa Michelson, co-founder and lead organizer of the Altadena Not for Sale movement, referring to developers buying up lots. <\/p>\n Michelson\u2019s group began selling and donating \u201cAltadena Not for Sale\u201d yard signs that now dot empty lots, standing homes and storefronts around town. The group also launched a petition to urge the state Legislature to create greater protections against corporations coming in and buying up properties in the disaster zone. So far the petition has gathered about 1,500 signatures. Another group, the Altadena Dining Club<\/a>, formed to try to keep local eateries afloat amid a drop in foot traffic around town. <\/p>\n With Hearring\u2019s studio, Michelson said it is exciting to see the community support a small business owner going up against real estate speculators. The homeowners who make up Altadena Not for Sale also are adamant about remaining in the area.<\/p>\n \u201cThis is really unprecedented that a community is coming together like this,\u201d she said.<\/p>\n As of Friday, Hearring had raised about $73,000 online, a far cry from what she needs to purchase the lot. But she said she\u2019s hopeful. She envisions a space not just for her studio, but one where nonprofit groups and young people can come together.<\/p>\n \u201cIf we don\u2019t hold the fort down, there will be nothing to come back to,\u201d Hearring said.<\/p>\n","protected":false},"excerpt":{"rendered":"Shelene Hearring is sprinting against big developers to try to buy a slice of Altadena on Lake Avenue,…\n","protected":false},"author":2,"featured_media":54387,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[5759,387,7,9,8,179,3021,4300,4416,7244,9472,1741,34048,7215,34050,34047,3228,34049],"class_list":["post-54386","post","type-post","status-publish","format-standard","has-post-thumbnail","category-california","tag-altadena","tag-business","tag-california","tag-california-headlines","tag-california-news","tag-community","tag-developer","tag-eaton-fire","tag-effort","tag-group","tag-investor","tag-lot","tag-melissa-michelson","tag-property","tag-sale-movement","tag-shelene-hearring","tag-studio","tag-unincorporated-town"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/54386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=54386"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/54386\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/54387"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=54386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=54386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=54386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}