Affordable Housing and ED1 Los Angeles
Any of you working on affordable housing projects in LA? Has the "expedited" process due to ED1 been helpful for you/your team. I was reading an article the other day stating that more than 10,000 units were approved in 2024 but only permits for about 500 units were pulled. I'm trying to find where i read it, I think it was from Urbanize. Anyhow based on those figures it sounds like deals are still not penciling. Approvals on projects under ED1 are supposed to be in as little as 60 days but really its a claim that the city is prioritizing review of affordable projects ahead of market rate projects.
Anyone in other cities who are building affordable, are you finding projects are able to move? Does an expedited process make a difference in your case?
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