Eastside Real Estate & Development News
L.A. council members talk about proposals dealing with unpermitted construction, developer contributions and affordable housing. A 100-unit public housing project in El Sereno is to be replaced by a bigger development. And the owners of a Mt. Washington are asking nearly $2 million for their 1-acre property.
Read on for details!
The City Council said it will look into increasing fines on property owners who do work without a permit, Curbed reported. City Councilman Mitch O’Farrell of the 13th District first made a motion for this after a contractor demolished a Streamline-Moderne storefront in Silver Lake last April without a permit. Craig Bullock, who is O’Farrell’s planning director, told Curbed that the fees aren’t high enough to discourage developers from going beyond what their permits allow them to do. The fees are seen as a cost of doing business, he said.
Councilman David Ryu - whose District 4 includes Los Feliz, Griffith Park and much of Silver Lake - talked to The Real Deal about proposed ordinance he’s introduced to encourage construction of middle-income housing, and to increase tenant relocation fees for developers who evict rent-regulated tenants when they deregulate the units under the Ellis Act. He’s also sponsoring a proposal to ban developers from contributing to an elected official’s campaign when the developer has a project under consideration in their district.
Could affordable housing be required in every new multifamily project in Los Angeles? This idea - called “inclusionary zoning” - is one of the possibilities, as the city seeks ways to ensure that affordable housing gets built throughout the city, not just in a few parts of town, Curbed reports. Councilman Gil Cedillo of District 1, whose district includes Cypress Park, Lincoln Heights and a portion of Echo Park, is having the City Council ask the planning department to develop recommendations on how to “establish a fair share distribution of affordable housing on a citywide basis.”
A 100-unit public housing complex on E. Florizel Street is slated to be replaced with a new development with nearly twice the number of units, under plans filed by the city’s Housing Authority, according to the Los Angeles Business Journal. The city plans to demolish Rose Hill Courts, at 4446 E. Florizel St., which was built in 1942. While its 100 units are now spread across 14 buildings, the new project will have 185 units across two buildings.
Homes in this neighborhood don't usually sell for $1.9 million. Then again, most homes don't sit on nearly an acre of park-like land. Curbed notes the 1920s Dutch Colonial-style farmhouse at 773 Mt. Washington Drive has never been on the open market before. The Home itself has just three bedrooms and a 1-bedroom guest unit. So most of the sale is the sprawling property that surrounds it.
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That’s it for this issue of Real Estate Monday.
— Barry Lank & Jesús Sanchez