From the parking lot of an Altadena staple, residents who lost everything in the Eaton fire called on Gov. Gavin Newsom to use the upcoming state budget to defend the town from corporate speculation of local property.

State Sen. Sasha Renée Pérez stood alongside about 30 residents at Fair Oaks Burger on Thursday advocating for $200 million to be allocated toward a fund that would help local nonprofit organizations purchase fire-damaged housing and commercial properties, which could then be redeveloped and sold at affordable prices.

“The people of Altadena suffered the worst of the Eaton fire’s devastation,” Pérez said. “Now they are being victimized a second time by outside speculators who see a path to get rich on others’ pain.”

Pérez said she and her colleagues are working to push legislation that would allow Los Angeles County to create a list of eligible nonprofits that could purchase the fire damaged properties.

“We know this is a tough budget year,” Pérez said. “Believe me we all recognize that as legislators but our commitment to help fire victims recover remains as strong as ever.”

Brian Ferguson with Newsom’s office said in an email that state and federal agencies have awarded more than $2.7 billion in small business assistance and $39 million in direct housing assistance to fire survivors.

Ferguson touted the state’s advocacy to FEMA for the agency to expand its traditional scope of fire cleanup to structures like owner occupied condominiums, multi-family units and certain commercial properties.

“Any new proposals for new spending would need to be evaluated in the context of the state’s larger budget picture,” Ferguson said.

Several people held signs with a variety of messages. The podium from where Pérez spoke was adorned with a sign that read, “Altadena Lands in Altadena Hands.” Other signs read “Residents first, investors never,” and “Community over investor profit.

Fourth-generation Altadena resident Zaire Calvin, who lost his sister in the fire, said Black and Brown residents are particularly vulnerable in the current situation.

“They get marginalized first and they get taken advantage of first and they’re the first ones to lose out,” Calvin said.

Pérez and the group cited a report from the Strategic Actions for a Just Economy (SAJE), a nonprofit from South Los Angeles, which found that the risk of displacement and gentrification had begun prior to the fire. After the fire it has rapidly increased.

According to the report, 45 of the 94 post-fire sales in Altadena from Feb. 11 to April 30 were to corporate entities. During the same time period last year, five of 95 purchases were to corporations.

“Speculators will sometimes say they’re in the business of providing housing, they’re not, Cynthia Strathmann, SAJE executive director, said. “They’re in the business of making money, the housing’s incidental.”

Damaged or destroyed homes and structures surrounded Fair Oaks Burger and speakers were forced to raise their voices as several debris removal trucks lumbered by what was once a vibrant corner of the bucolic town.

Strathmann said that the $200 million would be critical and needs to be made available now.

“Time favors the wealthy and the well-healed,” Strathmann said. “It does not favor the vulnerable.”

According to Redfin, there were 135 properties in Altadena listed for sale as of Friday, May 16. The newest listing was an 8,000-square-foot cleared property listed for $675,000, near Altadena Drive and Maiden Lane.

Sylvie Andrews, with a local nonprofit Altagether, said Altadena does not want to become a wasteland of unoccupied millionaire developments that value profit over human connection.

“Altadena’s always been a place where even if you weren’t rich, even if you didn’t look like your neighbor, you could live here and we want it to stay that way,” Andrews said.