COMMUNITY COMMENTARY:Speculators and the ruination of Montrose

Mayberry or nouveau Pasadena?

When our family bought Once Upon A Time bookstore in April 2003, we did so because we felt the community wanted to continue the neighborhood shop's legacy of providing more than 37 years of quality children's books.

In doing so, we have experienced the support of this wonderful family-oriented community.

Since 2003, Once Upon A Time has given back in a variety of ways: We have revitalized the store, started new book clubs, sponsored book signings and events, and held family-oriented Harry Potter book parties. We have employed more than 15 area youths in our four years, given scholarships to college-bound high school seniors, and we've donated more than $30,000 in four years to our community's schools, churches, fundraisers, etc. Our loving and trusted customers have been marvelous supporters of our efforts.

Now, some speculators that are mainly uninterested Westsiders are threatening Montrose Shopping Park by buying up numerous pieces of property in the Park at inflated (and now falling) prices ("Rents squeeze Montrose stores," Friday). What do you think they are going to do?

The speculators are analyzing the demographics, looking at the nearby homes selling in the $800,000s and likely thinking, "Gee, wouldn't these people be better served if they could walk five minutes to a Baby Gap or another Starbucks? That's how it is on the Westside and in Old Town Pasadena, so let's move out these small independent stores by demanding huge rent increases and put in a new, gleaming three-story McStarNobles right on the corner of Honolulu and Ocean View avenues. Or what about a new Victoria's Secret where Faye's is? Then everyone in the land will be happy and I will be able to make lots of money on my property investment."

How dare they think that's what we want?

Unfortunately, some of these speculators have not one iota invested in our neighborhood. They don't live in the Crescenta Valley, their children don't go to our schools, they don't belong to our community, philanthropic or religious organizations. Sure, they may be bigwigs on the Westside, with more money and cars than anyone could dream about, but Crescenta Valley is not the Westside.

I am a businessperson and understand that you should be able to make a profit, but to think that just because the speculators bought at the wrong time, and at inflated prices, doesn't mean I should have to subsidize them for their lousy investment.