REAL ESTATE INVESTMENT
LA City Planning | November 25, 2021
The Los Angeles City Council approved revisions to City Planning's Housing Element that will establish one of the most ambitious rezoning programs in the nation and address the systemic inequity in planning and land use policies that has contributed to the city's current housing crisis.
The proposed changes will set new citywide strategies in motion to achieve a more equitable distribution of affordable housing across Los Angeles. The ambitious rezoning program would rezone parts of the city, in order to allow for over 250,000 new housing units within three years of the plan's adoption. This plan puts Los Angeles on track to meet the state's request for nearly 500,000 new units by 2029.
"The Plan to House LA is designed to protect the most vulnerable Angelenos from displacement, eviction, and homelessness, It centers racial equity and environmental justice at the forefront of our planning considerations, aligning Los Angeles' citywide land use strategies to improve future access to housing, preservation, and production."
- Director of City Planning Vince Bertoni.
In addition to housing production, the plan also focuses on preventing displacement and advancing racial equity and opportunity. The Housing Element includes anti-displacement strategy studies, eviction defense programs, inclusionary zoning studies, a Citywide Housing Needs Assessment, and a focus on rezoning in higher opportunity areas.
The California-mandated Regional Housing Needs Assessment (RHNA) allocation will be focused on high-opportunity areas of the city near jobs and transit, expanding existing programs that give incentives for developers to include affordable housing in new buildings and ensuring that Community Plan updates have housing goals based on equity and combat the concerning housing shortage.
For decades, the City, surrounding region, and the State have alarmingly underbuilt housing. This shortage has led to LA having some of the highest rents and home prices in the nation. The biggest impact of LA's housing shortage is on working class families of all backgrounds, who find themselves facing exorbitant rents putting upward mobility out of reach.
The city will have three years to create ordinances to put these policies into effect. Technical amendments to the City's Safety and Health Elements were also passed to reflect the update of the Housing Element in accordance with state laws. Rezoning will take effect through active community and neighborhood planning efforts, citywide rezoning efforts, and affordable housing incentive programs.
REAL ESTATE TECHNOLOGY
GoldOller | May 03, 2021
GoldOller Real Estate Investments reported today it has obtained the site at 3145 Grays Ferry Ave and will instantly get things started on the improvement of a 157,000 square foot, five-story environment-controlled, self-storeroom. The $20 Million undertakings will turn into a foundation for the Gray Ferry Gateway Corridor.
As indicated by Jake Hollinger, GoldOller President, "Our low effect, the structure will altogether upgrade the Grays Ferry Corridor while giving an assortment of self-stockpiling openings for people and independent company around there, Center City, and South Philadelphia. The site, only yards from 34th Street and the University Ave Bridge, Fitter Square, and Washington Ave, is straightforwardly contiguous and will be completely apparent from, the Schuylkill Expressway. Our perfect lines and imaginative point configuration will embrace the raised Schuylkill Expressway while improving the road space of Grays Ferry Ave." This will be GoldOller's s second self-stockpiling advancement, having finished an 80,000 Square foot, Cube Smart oversaw, self-storage space in the Fishtown part of Philadelphia a year ago.
GoldOller, settled in Philadelphia, is one of the country's biggest multifamily proprietor administrators, with an arrangement of more than 40,000 condo units in 18 states. As indicated by GoldOller Chairman, Richard Oller, "Our premium in self-stockpiling and other resource classes doesn't flag any takeoff from our center condo business. A year ago, GoldOller finished more than $100 Million of new condos and blended-use improvements, and $566 Million of loft acquisitions in New York, Illinois, Ohio, and S. Carolina addressing 4,660 condo units. While we keep on growing our loft impression, we are excited to investigate new spaces of chance and particularly those in our patio."
CVA Commercial Group has prompted GoldOller on the Grays Ferry project since 2019. As indicated by Vince Jolly, CVA's originator and CEO: "The area is practically at the crossing point of the Schuylkill Expressway, Center City, South Philadelphia, and University City. It is the best area for understudies, mortgage holders, leaseholders, and independent ventures, and the circumstance is letter-great. We are exceptionally eager to see an empty, opportunity zone property, become animated alive."
BisRing Inc. | July 17, 2020
BisRing Inc.,The Ultimate Real Estate Network, is pleased to announce the relaunch of its online platform with an elevated design to better reflect the business. The company made user experience the top priority and featured new content in its website relaunch. The new sleek, intuitive interface allows users to navigate and easily search for the expansive directory of real estate related services and products they are interested in. A big part of the inspiration behind the relaunch is adding features that highly benefit this real estate online platforms users. This newly redesigned and improved portal allows real estate investors, service providers and various businesses to share their wealth of knowledge by writing BisBlogs at absolutely no cost. BisRing is the first in its industry to openly allow its members to write blogs and post them on BisRing website. This new addition by BisRing demonstrates the company’s transparency compared to other similar platforms that control their blog content by only allowing their own writers contribute to their blogs. At bisring.com this content is based on real life experience that is highly beneficial for the investors and home owners, and provides valuable tips and tricks.