SB50, the legislation authored by state Sen. Scott Wiener (D-San Francisco) and supported by Governor Gavin Newsom that would have encouraged apartment construction around transit hubs, has been sidelined by state Sen. Anthony Portantino, a fellow Democrat from Los Angeles County. Still, several bills and initiatives that could have an impact on the eventual supply and rents for multi-family housing are still in the works .
• Gov. Newsom has proposed $1.75 billion to increase grants and tax credits for housing construction.
• SB330, authored by Democratic state Sen Nancy Skinner of Berkeley seeks to keep cities with low vacancy rates or high rents from restricting new housing construction for five years by removing permitting caps, changing zoning laws to favor low-density housing, or adding new minimum parking requirements to discourage development.
• AB1279 by Assemblyman David Chiu (D-San Francisco), removes density limits for affordable housing developments while it adds up to three stories in height allowances if the projects are within a half mile of heavily used transit stops.
• AB68, authored by another San Francisco Democrat, Assemblyman Phil Ting, looks to override municipal size and design restrictions on auxiliary dwelling units, or ADUs, which could lead to the addition of thousands of new, smaller units on lots with existing residential buildings.
• AB1279 by Assemblyman Richard Bloom (D-Santa Monica), And Real estate malta eases restrictions on apartment and condo developments that are targeted at low- and middle-income residents who live in wealthy communities.
• AB1484 by Assemblyman Tim Grayson (D-Concord), takes aim at fee structures some developers and builder consider deceptive or unfair, forcing municipalities to publicly post such fees and submit to caps or guidelines on how much can be charged.
Clearly, affordable housing is a major concern for policymakers in California. As such, Gaetani is staying on top of these developments and will work with its clients to make sure any impacts to regulations or rents are understood and mitigated to the greatest extent possible on www.justguarantor.co uk.
Photo courtesy Bernard Sprague NZ / Flickr