"Proponents of the project have argued that it would create jobs and much needed housing.
"“There are a couple of folks in the Hollywood submarket that have used litigation to stay and stymie several projects,” UCLA Anderson School of Management professor Eric Sussman said.
Sussman added that efforts to stop and curtail projects is not new but has been very visible in Hollywood because of groups like the AIDS Healthcare Foundation that “actively use the courts.”"
[LABJ: 2/21/2019]
"In less than seven years, the median price of a home in Inglewood has more than doubled. It’s not just the stadium that’s enticing buyers, says Stuart Gabriel, director of the UCLA Ziman Center for Real Estate. The arrival of the Crenshaw/LAX rail line, which is set to open next year, along with a proposed arena for the Los Angeles Clippers and new development in and around nearby LAX, could further inflate home values in the area."
“There’s no right or wrong answer,” says Eric Sussman, adjunct professor of real estate and accounting at UCLA. “But you’d better be thoughtful about it.How many people have $120,000 lying around?” Sussman asks. That’s one reason why he says the question of whether it’s better to buy or rent depends on a host of other factors, including how much buyers have saved up and whether they are willing to make such a large financial commitment."
“At the recent Affordable Housing Symposium hosted by the UCLA Ziman Center and Fannie Mae, housing experts diagnosed underlying reasons to the lack of housing stock in the state’s thriving regions. TPR presents an excerpt of the panel, featuring Leslie Appleton-Young, CA Association of Realtors; Jonathan Lawless, Fannie Mae; and Ben Metcalf, California Dept. of Housing and Community Development. The panel, moderated by Ann Sewill of the California Community Foundation, provided an update to the implementation of Senate Bill 35 and the No Place Like Home bond initiative.”
“We have a lot of land uses that are generally low density and don’t take advantage of infill,” says Paul Habibi, a real estate entrepreneur and UCLA professor. “Golf courses are a great example of that pattern. Agrihoods resurface that low-density, less-sustainable model, and instead create something with a triple-bottom line return: developers do well, and the new neighborhoods have both social and sustainable impact.” People care about their food and authenticity, and the trend is here to stay, says Habibi. The Global Wellness Institute found the so-called “wellness real estate industry” to be a $134 billion global industryin 2017, with 740 projects built or in-development in 34 countries."
“At the recent UCLA Ziman Center and Fannie Mae Affordable Housing Symposium, tackling the issue of supply was the prevalent theme. Los Angeles County Supervisor Kathryn Barger provided an overview of the County's efforts to spur growth and implement Measure H funds for permanent supportive housing. However, Sup. Barger was quick to note that the government support "is only a Band-Aid that fails to address the underlying disease." TPR presents an excerpt of Barger's remarks.”
"A recent affordable housing brief published by the UCLA Ziman Center for Real Estate reports the high cost of housing across California and beyond is a major concern for low-income families. According to the Ziman Center’s research, half of U.S. residents are rent-burdened, spending more than 30 percent of their income on housing. The report also concluded that high housing costs often force families to make difficult decisions, including a move to “neighborhoods with higher crime rates or lower-performing schools.”
"Stuart Gabriel, Arden Realty Chair, professor of finance and director at Richard S. Ziman Center for Real Estate at UCLA, thinks there is a range of solutions—both public and private—to solve housing affordability. While he agrees that affordability is ultimately a supply issue, he says that the problem is too large for the public sector to handle alone. “The public sector alone has nothing close to the wherewithal or the capacity to deal with the magnitude of these issues,” Gabriel tells GlobeSt.com. “The creation of affordable housing can only occur in concert with the incentive structures that are available in the private sector and for private development."
"The housing affordability crisis may been one of the most pressing issues that we face. The issue is so pressing, in fact, that UCLA Ziman Center for Real Estate has launched the UCLA Affordable Housing Policy Briefs, a new series of research reports that focus on affordability issues. The first in the series is titled Why Affordability Matters, authored by Stuart A. Gabriel, the Professor of Finance and Director at the UCLA Ziman Center for Real Estate, and Gary Dean Painter, and explores the increase in rent-burdened households nationwide. Gabriel says that the affordability crisis "is a very serious challenge and may be among the more pressing domestic policy issues here in the United States."
"The project will bring a mix of housing in the form of single-family homes, condos, and apartments, with about 10 percent, or more than 2,000, of the units priced at below-market rates. But LA is working with a housing dearth of at least 500,000 units. So even though this is a massive development, it will “certainly be helpful, but not curative in any sense," Stuart Gabriel, director of the UCLA Ziman School for Real Estate, tells the radio news station."
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