Los Angeles, under an order from Mayor Karen Bass, is now approving “unsubsidized 100% affordable” housing by the hundreds.
Get the news that matters to all Californians. Start every week informed.The term “unsubsidized 100% affordable project” was once an oxymoron. Under Mayor Karen Bass, Los Angeles is now approving them by the hundreds.
The city has also been the subject of at least two lawsuits and a multi-front political battle over whether and how to turn the mayoral decree — which is only in effect as long as Bass wants it to be and barring a court’s decision to end it — into a permanent fixture of Los Angeles housing policy. Harris, a former college basketball player pursuing a post-athletic career in Southern California real estate, put it more bluntly. of the program by the pro-housing advocacy group Abundant Housing LA estimated that roughly three-fourths of affordable units proposed through the policy are doing so without any public money. In“I don’t think anybody saw this coming,” said Scott Epstein, policy director at Abundant Housing LA and one of the authors of that analysis.
“It shows what is the minimum that could be built in California, without and prevailing wage, like a real world example of that,” he said. “I don’t think any other big city in the country has taken this sort of initiative to build housing.” To qualify as a 100% affordable housing project under the city of Los Angeles’ streamlined treatment, a studio can go for roughly $1,800. Compare that to a traditional publicly subsidized project which could charge as little at $650 for the same unit. Developers flocking to the city’s new program are essentially “making a bet,” said Gary Benjamin, a land-use consultant who advises developers on how to navigate the city’s planning and permitting bureaucracies.
All those added units mean developers can set the rents lower and still pay themselves back for the cost of construction and then some.— the mere fact that a developer could successfully build an apartment building within the price range of someone earning just under the area’s typical income would not be cause for celebration — and wouldn’t need an emergency declaration to bring about.
“To give emergency powers reserved for earthquakes and horrible storms and true catastrophic emergencies to apply that to housing to override community plans and zoning for an indefinite period of time — it’s just not good government and it decimates due process,” said Michael Everoff, one of the group’s co-founders.
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