Anyone on the development side of the business with experience in Los Angeles (Hollywood) ground-up?
Basic question regarding multifamily zoning. Assuming you had an opportunity to assemble three contiguous parcels (each parcel currently zoned R-3, 8000-1000 SF of land each, with existing 5-10 unit apartment buildings on each parcel), how realistic would it be to rezone for R-4 or R-5 to increase density and re-entitle for 50+ units? I know that certain areas (i.e. Santa Monica and West Hollywood) seem to have much tougher times of it trying to get projects like that approved by the various groups.
I understand it's a bit broad, I have seen a number of broker packages over the past few years in the Hollywood area for either vacant land zoned R-5 for development, or parcel with a SFR or duplex that can be razed and rebuilt with R-4 or R-5 zoning.
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