Grant Cardone Slams California's Plan to Buy Fire-Ravaged Palisades for Low-Income Housing, Calls it a Land Grab.

Grant Cardone criticizes California's plan to buy fire-ravaged Palisades for low-income housing, calling it a "land grab." The new bill, California Senate Bill 549, gives LA County expanded authority to purchase land damaged by the January 2025 wildfires and use property taxes to fund purchases. At least 40% of funds must go toward building multi-unit, low-income housing. Governor Gavin Newsom has allocated $101 million in state funds to help jump-start rebuilding efforts.

California Governor Gavin Newsom has sparked controversy with the recently passed California Senate Bill 549, which grants Los Angeles County expanded authority to purchase land damaged by the January 2025 wildfires. The bill, supported by Governor Newsom and California Assembly Speaker Karen Bass, aims to address the state's housing crisis and promote climate resilience. However, critics, including prominent real estate investor Grant Cardone, have slammed the initiative, labeling it a "land grab."

The legislation, known as SB549, allows the state to use property taxes to fund the purchase of fire-damaged lots. A newly created "Resilient Rebuilding Authority" (RRA) will acquire ruined lots and coordinate recovery efforts. At least 40% of the funds must be allocated to building multi-unit, low-income housing on sites formerly occupied by single-family homes. The initiative is part of a broader effort to provide urgently needed, safe, and affordable housing for families left homeless by the fires.

Critics, such as Cardone, argue that the bill amounts to state overreach and forced loss of private property. They contend that the measure is a pretext for high-density housing developments in traditionally single-family enclaves like Pacific Palisades and Malibu. Cardone, whose Malibu home was damaged in the fires, has become a vocal critic of the bill, blaming state leaders for years of "mismanagement and misplaced priorities." He has demanded accountability and called for resources to be allocated for fire prevention and infrastructure before the crisis hit.

Supporters of the bill maintain that it is a necessary and pragmatic response to the unique circumstances of the January 2025 wildfires. They argue that the RRA model provides transparency, public engagement, and financial tools to ensure recovery actually happens for all residents, not just wealthier homeowners. The policy is narrowly tailored to address the housing and disaster crisis, and is not a blanket removal of property rights.

The bill has reignited a heated debate about the role of the state in rebuilding communities and the balance between local control and centralized action. Whether SB549 proves to be a bold solution to rebuilding or an overreach of state power remains to be seen. As the Resilient Rebuilding Authority begins acquiring and redeveloping destroyed lots, the initiative is certain to reshape the area's housing landscape for years to come.

References:
[1] https://www.facebook.com/thehodgetwins/posts/-california-land-grab-sb549-could-re-zone-and-override-your-neighborhood-this-is/1318009139681670/
[2] https://www.barchart.com/story/news/33593887/grant-cardone-slams-californias-plan-to-buy-fire-ravaged-palisades-for-low-income-housing-says-its-not-just-a-conspiracy
[3] https://spectrumnews1.com/ca/southern-california/wildfires/2025/07/22/emergency-wildfire-funding-california