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Wildfire activity is increasing throughout California. In recent years, the state has been plagued by devastating wildfires that have destroyed communities throughout the state. According to the California Department of Forestry and Fire Protection, California has already experienced 1,349 wildfires that have burned 12,247 acres of land. The department along with other weather experts believes that the frequency of wildfires is going to increase, and the pattern is a question mark for developers, who will have to navigate this environmental challenge. However, Martha Bane of insurance brokerage and risk management services firm Gallagher doesn’t believe rise of wildfires will impact new construction.

“As long as developers are not restricted by prohibitive costs due to ordinances, laws or codes changes they will continue to develop and rebuild in fire prone areas,” Bane, managing director at Gallagher’s property practice, tells GlobeSt.com. “The housing crisis in places like San Francisco continues to push people out of unaffordable suburban areas to life in more wildfire prone areas and developers will continue to fill that need.  It is unlikely that developers will incur the additional cost to build above current code requirements because it will materially impact their ROI.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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