FACT OR BS Regarding Rumors Swirling Palisades and Its Rebuild

It appears that Pacific Palisades residents have nothing more pressing in their lives then to spread rumors. Forget destroyed homes with no money to rebuild, schools that are closed, streets that need repaving, insurance issues and a city council that can’t balance a budget. Instead of facing issues residents instead spread rumors to avoid real issues. This is part 1 of 2 of FACT or BS.

1) Rick Caruso is buying Ralphs.

There is a rumor going around, possibly started or spread at the Historical Society meeting where it was announced that Rick Caruso is buying the property that houses Ralphs. The rumor has grown in leaps and bounds and is now on Nextdoor and even has a worker at Anawalt repeating it.

The owners of the property that houses Ralphs, the Car Wash, Anawalt and the store that used to be Pharmaca are a long-time Palisadian family that have no plans to sell and no plans to leave the Palisades. This editor was told by a member of the family if anyone asks “tell them Elon bought it.”

At the press event with Elysee Walker and Caruso, last week  this editor asked if Caruso had acquired any other properties and was told that Caruso had not bought anything and didn’t have plans to do so.

FACT or BS? BS.

The Corpus Christi Church that bordered the library, and park was destroyed.

2) Rick Caruso Acquired Corpus Christi.

Caruso publicly stated just weeks ago on a local podcast that he is not in any negotiations to acquire any commercial or church properties in the Palisades. Additionally, real estate transactions involving church-owned property—especially those connected to the Archdiocese of Los Angeles—are lengthy, highly regulated, and often take years to finalize. No sale has been recorded, and no credible sources have confirmed such a deal is underway. Corpus Christi and Father Kidney have emphatically stated that they’re rebuilding.

Fact or BS? BS.

3) Josh Altman Predicts a Mass exodus from the Palisades.

Celebrity realtor Josh Altman has predicted that a significant portion of Pacific Palisades residents displaced by the January 2025 wildfire will not return to rebuild. In interviews, Altman estimated that 65–70% of affected homeowners are unlikely to come back, citing several key factors.

Of the nearly 7,000 properties destroyed in Palisades, Anthony Marguleas, founder of Amalfi Estates said that as of June 1 there are 305 total land listings. There are 195 Active, 29 in escrow, 55 have sold, 24 have been cancelled/withdrawn and two are on hold.

Marguleas wrote “The main reason the number of land listings has dropped is sellers realize their lots have lost 35-40% of their equity (except for the Huntington, which has held its value much better). Many are deciding whether they should sell now or wait for the market to recover in a few years (if they have the time and financial resources to do so).

Most people on chats and in meetings say they want to rebuild. Many realize that once the town is rebuilt, the cost to buy back may be even more expensive. Residents are dealing with insurance, and others are waiting for the City to determine exactly what the rebuild rules will be.

FACT or BS: BS.

4) Authorities intentionally allowed the Palisades Fire to burn unchecked to advance redevelopment agendas or facilitate land acquisition.

This claim lacks credible evidence and has been debunked by experts and officials. The rumor gained traction on social media platforms, where some users speculated that the fire was deliberately set to clear land for new developments. These assertions are part of a broader pattern of conspiracy theories that often emerge during and after large-scale disasters.

FACT OR BS: BS.

5) New structures at Palisades Charter High School (Pali High) are intended for housing rather than educational purposes. 

The Palisades baseball field has been scraped to put portable classrooms on that field, so that students can return in the fall. Construction of new buildings will take place between the portable classrooms and the standing buildings. A lead architect has been hired, the DLR Group click here. A meeting will be held, June 6, at 6 p.m. via Zoom lausd.zoom.us/j/87064132905     Meeting ID: 876 6413 2905

FACT OR BS? BS.

6) Palisades soils are contaminated, and it will be unsafe to live or rebuild on properties.

An L.A. Times story ran a misleading headline[“After L.A. Fires, Testing Soil for Toxicity Yielded Alarming Results”] click here. The Times only checked soil samples on 20 parcels in Pacific Palisades. Reports found “Out of the 20 homes The Times tested in the Palisades, only one had contamination above California standards: A standing home with elevated levels of arsenic.”

A more accurate and complete steady was done by ROUX. The company tested 780 parcels. An April 10 report [“Initial Findings from Representative Soil Samples at Intact Parcels”] sponsored by the L.A.County of Public Health, found the soil was good in the Palisades. Between March 4 to 11, 780 parcels were tested with about five samples per parcel, roughly 4,000 samples in intact homes/yards in the burn area.

The findings? In Pacific Palisades “Widespread contamination from potentially fire-related chemicals are not evident,” the report stated. “There was some sampling of soils from isolated areas that had heavy metal and PAH concentration above screen levels, but the source for these localized impacts is unknown at this time. They are not consistent with communitywide impacts from fire-related smoke plumes.”click here.

FACT OR BS? BS.

The Chase Building off Sunset at Monument has been fenced and debris removal has started.