A new transfer tax that intends to fund affordable housing might end up crushing Los Angeles's multifamily market—at exactly the wrong time.

“A great many people voted for [Measure] ULA for this very reason—including seasoned real estate folks, who voiced little, if any, opposition to it. A developer friend of mine voted for ULA mainly because the Howard Jarvis Taxpayers Association opposed it. That's usually a good heuristic if you're pro-development. But the housing crisis has created some strange bedfellows.”
“Contrary to the stereotype of the ‘greedy developer,’ there are probably guys dressed as Spider-Man on Hollywood Boulevard who make more money on a daily basis than many developers do. Their cap rates are thin—in the single-digit percentages--and they often take years to materialize. Even if a developer is willing to tolerate lower margins, fat chance finding a lender who will—especially in what is already a worrying economic climate.”
“Kneecapping the development industry may be fine if (like L.A.'s mayor) you're sick of all the ‘luxury’ residential buildings that have gone up lately. But, if ‘luxury’ buildings are the only projects that pencil out now, then what of working class, ‘missing middle’ housing? That's exactly the type of housing Los Angeles needs.”
“Now, as ever, Los Angeles cannot get out of its own way.”
FULL STORY: The Perverse Economics of Los Angeles's "Mansion Tax"

Rethinking Redlining
For decades we have blamed 100-year-old maps for the patterns of spatial racial inequity that persist in American cities today. An esteemed researcher says: we’ve got it all wrong.

Montreal Mall to Become 6,000 Housing Units
Place Versailles will be transformed into a mixed-use complex over the next 25 years.

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Connecting Communities to Nature Close to Home
Los Angeles County’s Nature in Your Neighborhood program brings free, family-friendly wellness and nature activities to local parks, making it easier for residents to enjoy and connect with the outdoors.

Palmdale’s Beloved Water Park Gets $2 Million Upgrade
To mark its 20th anniversary, DryTown Water Park has undergone major renovations, ensuring that families across the Antelope Valley continue to enjoy safe, affordable, and much-needed water-based recreation in the high desert.

Help Stop the Beetle Killing Southern California’s Oak Trees
Claifornia residents can join a volunteer “blitz” this June to help detect and map infestations of an invasive beetle that is killing thousands of oak trees across Southern California.
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