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News & Press: Industry News

Impact of LA Affordable Housing Vote Unclear

Monday, December 19, 2016  
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Impact of LA Affordable Housing Vote Unclear

The recent election has a major message to builders – urban California voters will not hesitate to demand affordable housing. Los Angeles city voters approved a new ordinance to require affordable housing for developments of 10 or more units that need a zoning or height change, or else developers must pay the city a fee.  New construction worker requirements, including higher wages and jobs set aside for city residents, were also part of the ordinance. The real question is whether the increased wages and new requirements for below market rate housing will simply result in less housing being built than would otherwise be the case. By setting wage and hiring standards along with affordability guidelines for projects, project costs will undoubtedly increase. The recent election shows that urban California voters remain more willing to adopt progressive initiatives than voters in almost any other state.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
Email:  |  Phone: 916-444-2647  |   Fax: 916-444-2851