Hollywood Developer Self-Imposes Rent Control on New Project
Bianca Barragan reports that the developers of a 210-unit apartment tower in Hollywood will voluntarily subject the project to L.A.'s rent stabilization ordinance, which caps rent increases for apartments at 3 percent per year.
"The ordinance applies to housing built prior to 1978—not new projects—so the decision is almost totally unheard of," Barragan notes.
As part of the new project, several existing apartment buildings will be demolished. The company now says it will relocate those tenants during construction—paying the excess rent they'll incur in the temporary units—and save them a spot in the new building at their old rent.
Prior to the announcement, tenants in the existing buildings had been organizing against the teardown of their homes. They will now pivot to holding Champion Real Estate accountable to these promises.
Topics
- When Amazon Happens to Good Cities
- Election 2018 Results: Local and State Land Use, Transportation, Housing, and Infrastructure
- Neighbors Demanded a Wall Around a Habitat for Humanity Development in Florida
- New Urbanists and New Housing
- Skyline Redefining Mega-Project Approved in Atlanta
- Google Planning Massive Expansion in New York City
- Watch Las Vegas Expand While Lake Mead Contracts
- Houston’s Growth Poses Service Challenges
- Transit Oriented Development Spreads to the Suburbs
- New Vancouver Council Plotting to Rescind Recently Approved Zoning Changes
- Another Major Statewide Transportation Funding Loss on Election Day
- Transportation’s 'Pink Tax' Is a Cost Burden on Women
- Complete Coverage of Amazon's HQ2 Decision
- The Problems With Tax Increment Financing and How to Fix Them
- Real Estate in the U.S.: More and More 'Million-Dollar Neighborhoods'
- Study Finds Fewer Young People Want Cars
- Amazon Makes It Official With New York and D.C.; Throws Another Curveball With Nashville
- Citing Lack of ADU Development, Ann Arbor to Refine its ADU Ordinance
- Tools for Addressing the Suburbanization of Poverty
- Field Operations-Designed Domino Park In Brooklyn Reviewed
