Technically it’s been on the books for the past three decades, but California’s “builder’s remedy” housing law has yet to result in a project launching construction, partly because it’s confusingly worded, the Mercury News reported. Now, some of the state’s leading legislators have introduced bills intended to clarify, but also rein in, the statute.
Assemblymember Buffy Wicks (D-Berkeley) has introduced AB 1893, which she said would “modernize” the law. The proposed overhaul includes new perks for developers, textual edits to clear up how the law would apply and a new “streamlining” provision that would let developers bypass environmental review and public hearing requirements under certain conditions. However, it would also cap the size of builder’s remedy projects while prohibiting the law’s use in industrial zoned areas.
AB 1886 by Assemblymember David Alvarez (D-San Diego) would specify that jurisdictions without state certified housing plans would be subject to the builder’s remedy until those plans are passed by local officials and signed off on by the California Housing and Community Development department. That’s a response to cities that have argued that the state’s stamp of approval isn’t needed, reported the Mercury News.
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Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate
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