Measure S. Dropping a Nuke on LA Dev

There is lots of talk in the real estate development circles about the upcoming Measure S on the ballot in the City of Los Angeles. Measure S proposes a two-year moratorium on all real estate development projects that need a zone change, height district change or General Plan amendment. Wait, what? Yes, it would be a two-year block on all real estate development in the City of Los Angeles on all projects that do not exactly fit the zoning restrictions and regulations permitted for the parcel(s). Builders can still build, but the development cannot deviate from the zoning code at all.

I’ll take the Penthouse, thanks.

So voters will decide on March 7 if that’s what they want. The AIDS Healthcare Foundation, a nonprofit in LA, is supporting and funding Measure S. Their general motivation is to stop the development of large, luxury projects by taking two years off to redesign the General Plan. Much of the recent development in LA over the last ten years has been luxury units with very few low to middle income units being constructed. That lopsided development, according to the AIDS Healthcare foundation, is exacerbating the shortage of affordable units in the City.

Developers most definitely do not support Measure S and neither does the LA Chamber of Commerce. Developers build hotels, large multifamily projects that often require zoning changes or general plan amendments. Fox example, developers combine parcels to create a larger project. A two year block on all development will only make the housing shortage in LA worse, not better, according to opponents. LA Mayor Eric Garcetti does not support the measure.

IS the answer to LA’s affordable housing shortage to stop all development so the City can redesign the General Plan that will facilitate affordable housing construction? Seems silly to me.  You can read more about it HERE.