In November, residents of Los Angeles will vote on an ordinance that would require large developments to include a higher percentage of multifamily housing units, thereby making way for more affordable housing in the city. Developers building near public transportation hubs such as rail and bus stops also would receive incentives for increasing their low-income housing offerings.
The ordinance's requirements would not apply to downtown Los Angeles or industrial development within a short distance of major transit stops. Developers in eligible areas would have the option to contribute to the city’s Affordable Housing Trust Fund instead of building rent-controlled units.
More than a third of Los Angeles residents spend more than half of their income on housing, increase the occupancy of their unit, or move into distressed parts of town to afford living there, said Joan Ling, former treasurer of the Los Angeles Community Redevelopment Agency, in a press statement.
More multifamily housing, along with more land zoned for multifamily housing, will help alleviate some problems with affordable housing in the city, Ling said.
