Streamlining Approval Process Through Inclusionary Zoning
Converting Empty Offices Into Homes: A Creative Solution to Housing Shortages
Just The News – Los Angeles, grappling with a severe shortage of housing has unveiled new plans to tackle the crisis head-on. The City Planning Department has proposed draft ordinances to pave the way for the construction of over a quarter of a million new housing units. These ordinances aim to streamline the approval process, particularly through inclusionary zoning which requires at least 20% of units to be affordable. By allowing by-right construction for such projects officials hope to slash development times, addressing the city’s pressing need for more homes.
Recognizing the hurdles developers face, such as lengthy approval processes and high costs, the city’s move to expedite housing approvals could make a significant dent in addressing the housing shortage. Delays in approvals not only prolong construction but also inflate costs, primarily due to interest on loans. By reducing these delays, the city aims to lower housing costs overall, making homeownership more attainable for its residents.
/cdn.vox-cdn.com/uploads/chorus_image/image/60023885/shutterstock_1106180936.0.jpg)
250,000 New Homes – Los Angeles Plans to Combat Housing Crisis (PHOTO: Curbed LA)
Repurposing Empty Offices: Transforming Commercial Space into Residential Solutions
Moreover, Los Angeles is eyeing unused commercial space as a potential solution to the housing crunch. With a staggering 20% office vacancy rate, there’s ample opportunity to repurpose these spaces into much-needed residential units. By converting even a fraction of empty offices into apartments, the city could potentially create tens of thousands of new homes, offering a lifeline to individuals and families struggling to find affordable housing in one of the nation’s most cramped cities.
READ ALSO: Private School Tax Credit Bill Fails In Idaho House Committee Amid Divided Opinions
