LABC calls on Los Angeles to create new policies that will promote more housing

LOS ANGELES – When it comes to building more housing, Los Angeles has ambitious but unrealistic plans, some business leaders say.

What you need to know

  • Los Angeles has ambitious plans to build nearly 500,000 housing units by 2029, but business leaders say it is unrealistic
  • The Los Angeles Business Council is urging the city to create a new policy that will help streamline the construction of more housing of all kinds
  • According to the RHNA, Southern California should build more than 1.3 million housing units by 2029, and more than half of those units are reserved for low-income residents
  • LABC booklet to UCLA Ziman Center for Real Estate to write a white paper outlining the challenges and policy proposals for building additional housing

Last November, the city council updated its housing targets, aiming to build nearly 500,000 new housing units – about 200,000 for low-income households – by 2029.

While these plans are progressing, it is unrealistic given the city’s current housing policy, officials in the Los Angeles Business Council said.

“The city council deserves great credit for setting an ambitious goal to bridge the housing crisis and the accompanying gap in prices that are expanding day by day, but without significant reform and outline, that goal will not stand,” said LABC President Mary Leslie. News report.

“Failure to meet this demand will exacerbate housing insecurity and homelessness in Los Angeles,” Leslie later told Spectrum News on Thursday. “Our goal is to help propel the city toward its goals by making these recommendations. The affordable housing crisis of Los Angeles is a very important issue and our city can no longer afford to wait for solutions.”

The LABC on Wednesday urged the city council to make significant policy changes if they are serious about meeting their housing production targets by the end of this decade. The announcement came after the LABC Mayor’s 20th Annual Housing, Transportation Conference, which dealt with how to bridge the housing price gap and meet new and vital development goals.

The state has pressured cities to add more housing in recent years.

According to an estimate of regional housing needs, a state housing law that requires cities and municipalities to build a certain number of housing units to accommodate growth, Los Angeles should build 456,000 new homes by 2029. About 185,000 housing units should be reserved for low or very low. Low-income residents.

Meanwhile, Southern California needs to plan more than 1.3 million new housing units in the same time frame. Of that number, more than half a million units are designated for affordable housing.

But for the city of Los Angeles to meet its housing target for the next seven years, city council members must create a new policy, LABC leaders say.

According to the LABC, on average, the city will need to produce 61,000 units – of which 23,000 must be reasonable for low-income households each year for the next seven years. The 61,000 units are more than five times the amount of housing the city has allowed each year since 2014, including affordable housing.

Outgoing Los Angeles Mayor Eric Gracie, who delivered the keynote address at the summit on Wednesday, addressed the housing issue to his successor and future council members.

“We voted for something that would now determine an honest number of 457,000 housing units in the city of Los Angeles. It’s like the San Fernando Valley built on top of our Los Angeles,” Garcy said, according to City News Service. “Can we get there? That’s a question for all of you today, and for the substitutes, for the city councils to come.”

Leslie said LABC advocates increasing housing production, including market-owned housing, middle-income and affordable housing. This will include single-family apartments and houses.

The proposed reforms are aimed at improving the overall development process. They are particularly focused on increasing the production of affordable and low-income housing because here there is the greatest need.

LABC officials said they are teaming up with the UCLA Ziman Center for Real Estate to write a white paper “to better identify the barriers and opportunities for producing adequate and affordable housing.”

They plan to present the findings later this year to mayoral candidates during the November 2022 Los Angeles mayoral election.

Some of the proposals identified by the LABC include streamlining the approval process, creating a linear start and end timeline, removing affordable housing additions and an incentive to build housing projects for the workforce.

LABC leaders said the corona plague has exacerbated the city and the housing crisis in the region.

“Los Angeles is in dire need of solutions that will effectively deliver large amounts of affordable, affordable housing in a short period of time,” said Brad Cox, chairman of the LABC Institute, LABC’s research arm. Local governments to implement effective strategies to reduce the cost of new housing. This private public effort requires innovative solutions that dramatically increase the production of new housing for all income levels. We need to provide housing. That all Los Angeles residents can afford it. “

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