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Okay cause I’ve posted it before and I guess it gets lost . It’s not going anywhere right now . My friend works for the county in that building . They’re held up for like at least another or year or two . The real battle now is the idiot who runs the farmers market is wasting his money trying like clean the stage or something but development is nowhere near close to starting . I asked like 3 weeks ago when we were shopping for blood oranges. So yeah. And a petition isn’t gonna save it the county already sold the land to develop low income housing .
I will believe that affordable housing is going up in that neighborhood when I see people in the built units. What's gonna happen is they are going to build the bare minimum amount of affordable housing that is mandated by that municipalities laws and then the rest will be "luxury condos" that will be more expensive than someone with a middle class income can afford. LA is fucked until they get the real estate tiger by the tail and start actually changing some laws that help tenants.
Are you sure its an inclusionary zoning project, or will it be 100% affordable. Are you speculating or know for sure? Lot of HHH money going unspent.
(sorry, this is what I do for a living)
I'm definitely speculating but it's a story I've seen play out time and again over the past couple of decades. There is absolutely mandated affordable housing in places like Marina del Rey and Santa Monica but the amount is so vanishingly small it doesn't wind up making any kind of difference to renters. For the people who get in there, it's akin to winning the lottery. The developer and city officials have covered their ass legally and the new units that aren't earmarked as affordable go on the market with slightly above market value rents because they're new units in desirable areas with all mod cons. And the cycle of rent inflation continues, using the very tools designed to slow it.
The one thing going for this turning out to be 100% affordable housing is that the neighborhood isn't that nice. I'm sure businesses and residents already there would like it to be much nicer so there would likely be resistance to 100% affordable. Another factor is that, while the courthouse is an LA zip code, it's very close to where it switches to a Santa Monica zip code. This brings up a lotta jurisdictional issues and sometimes no city's cops go there. This issue fucked up parts of West Hollywood up until around 2010 and is currently popping off in the zone I live in. This makes me wonder if there's a similar laissez faire approach to real estate deals in these neutral zones.
Sorry for the salt. I'm a cynical LA resident stuck in an overpriced west side dump and I know if I move my rent will only go up, no matter which move I make.