Increased housing pressure from hi-tech millionaires prompts conservation group to purchase oceanfront land to prevent development of trophy homes along California's San Mateo County coastline.
San Mateo County has stretches of undeveloped coastal lands attractive to hi-tech millionaires and developers looking to building oceanfront mansions. The Peninsula Open Space Trust will purchase 1,700 acres along the southern San Mateo County coast to protect it fromdevelopment. The trust relies on state grants and private donations. Among its donors are hi-tech millionaires - the very people that might be tempted from developing on the oceanfront lands. "The same person we hope will support us is the same person competing to buy this land," said Audrey Rust, president of the trust.
Thanks to Abhijeet Chavan
FULL STORY: Development averted for oceanfront lands
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