High-density, transit-focused LA multifamily developer @GREP_LA. Long-term holder. We buy, entitle, build and manage in-house. Licensed GC. Father. Husband.generationrep.com Los Angeles, CAJoined November 2012
We’ve been receiving a lot of calls lately about our ED1 project being appealed. @LAist recently asked to meet with us to discuss what happened and what our expectations are now that an appeal has been accepted. laist.com/brief/news/hou…
If AB 1287 passes, Tier 1 TOC in LA will be dead in the water. Fingers crossed, "environmental groups" and NIMBYs don't block or slow down the approval.
The major beneficiary of NIMBYism is the already well-to-do landowner --> neutering new supply causing abnormal increases in land value.
The other 90% in LA is left paying higher rents and putting down larger down payments.
It pays to be rich in LA.
AB 1287 will be a boon for multifamily developers and significantly support the efforts of building housing faster, without the threat of triggering CEQA in LA.
I'm happy to see strong leadership move this along in CA.
Ironically (not lol), states that have allowed housing to be built as an instrument of profit have the most affordable housing today and states that have attempted to decouple housing from profits have the least affordable housing.
Ironically (not lol), states that have allowed housing to be built as an instrument of profit have the most affordable housing today and states that have attempted to decouple housing from profits have the least affordable housing.
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