What happens if an HCM in an HPOZ burns down?
Some friends of mine have this HCM, Hpoz, hillside house that they are ready to sell in order to finance their medical treatments and take care of their kids and grandkids. I’m afraid the combination of emcumberments plus the cost of getting it habitable and maxing out its value make it a stuck asset.
If preservation minded investors don’t buy it, I’m afraid it could go to someone might scrape the lot in hopes of increasing density.
What precisely happens if someone does that? Do they just have to wait a while?