LOS ANGELES–(BUSINESS WIRE)–The Coalition to Preserve L.A. urges the Democratic leadership in
Sacramento, as well as its partners at today’s press conferences (in
Sacto & L.A., on the California Senate’s move to introduce a Budget
Proposal to Tackle Homelessness) and Mayor Eric Garcetti, to pledge
construction over the next three years of 20,000 affordable rental units
that Los Angeles families can afford — meaning rentals of $600 per month
and below for a one-bedroom, and $800 and below for a two-bedroom.
Greed has created a fever of land speculation in L.A. as purely
profit-motivated developers decide what should be built on
already-occupied land — land that often contains older, livable, and
affordable housing. Many thousands of livable, affordable rentals have
been wiped out — with the approval of Los Angeles City Hall.
The City Council and Garcetti Administration feed this land speculation
by repeatedly agreeing to luxury housing projects via “spot-zoning” to
allow bigger and taller structures. This spot-zoning of the land brings
developers a tremendous monetary return, both on land speculation and
land-flipping, and on project development. A report by former City
Controller Laura Chick found that the vast majority of City Hall’s
residential project approvals resulted in luxury housing for
one-percenters earning $135,000. Families in L.A. typically earn less
Since Chick’s report, city leaders in L.A. have only doubled-down on
luxury housing, and wiped out even more affordable housing.
Because developers know the land itself can be turned to gold by
spot-rezoning, occupied L.A. land has become the focus of a bidding war.
The wealthiest developers are involved. City officials then accept
campaign money or other perks from some of them.
Los Angeles cannot afford this backward-looking, old-time game that has
created a devastating net loss of existing affordable housing. The
luxury buildings are now driving up the price of land and housing all
around them, forcing out large numbers of working families, artists and
other lower-income and middle-income people.
The Coalition to Preserve L.A. is fighting, through its forward-looking ‘Neighborhood
Integrity Initiative,’ to place a moratorium on major projects that
don’t adhere to existing zoning and, during the moratorium period,
to force Mayor Garcetti and the L.A. City Council to update L.A.’s
long-neglected General Plan.
The General Plan, which has not been modernized since the 1980s, must
end L.A.’s devastating land-bidding wars, driven by old-school dealings
between politicians and luxury developers. A forward-thinking General
Plan must bring intelligence and rationality to zoning, and to decisions
about how and where residential gentrification is a plus for L.A.’s
livability. It must no longer be driven by the spot-zoning that today
lines developers’ purses.
The Coalition to Preserve L.A.