July 15, 2024 Breaking News, Latest News, and Videos

Revised Policy Increases Affordable Housing Requirements in Marina del Rey

This Mandate Applies to New Leases or New Development Projects.

By Zach Armstrong

After the L.A. Board of Supervisors approved a revised policy, real estate developers will have to include more affordable housing units in their Marina del Rey projects.

While a previous proposal increased the amount of on-site affordable housing for up to 20%, the policy approved at its Oct. 17 meeting calls for 30% of residential units in newly-built and “rehabilitated projects” (revitalizations of structural systems that result in at least three tenants vacated for at least 15 days) to be set at below market rates. Two-thirds of which are reserved for very low-income households while the rest are for ones deemed either low- or moderate-income.

This mandate applies to new leases or new development projects. While it doesn’t apply to entities currently leasing land from L.A. County, current lessees seeking County approval of discretionary entitlements might have to comply.

According to Urbanize LA, the 30% rate is higher than those in Santa Monica where affordability requirements vary from 20 to 25% in its Downtown area, while it also exceeds inclusionary housing requirements of Downtown Community Plans ranging from 8 to 16% depending on income.

Los Angeles County and the Los Angeles County Development Authority will administer as much as $200,000 for costs related to the new policy, since it could start seeing less rent revenue as per market rate units now being converted into affordable ones.

Related Posts

Los Angeles Woman Sentenced to 35 Years to Life for Murder of Michael Latt

July 14, 2024

July 14, 2024

35 Years to Life for Woman Who Killed Social Justice Advocate Jameelah Michl was sentenced to 35 years to life...

Summer at Annenberg:Swim Daily and Watch the Sunset

July 12, 2024

July 12, 2024

By Susan Payne A unique, inclusive community destination along the Pacific Coast Highway of Santa Monica is inviting you to...

Kroger and Albertsons Reveal List of Stores to be Divested in $25 Billion Merger

July 12, 2024

July 12, 2024

Eleven Stores in West Los Angeles Among Locations to be Sold  The Kroger Company and Albertsons Companies Inc. have announced...

Pizza Girl’s First Brick-and-Mortar Shop Opens Along Venice Beach

July 12, 2024

July 12, 2024

Its Owner, Caroline D’Amore, Has Made Several Film Appearances, Modeled, and Toured Internationally With Paris Hilton as a DJ By Zach...

This Homeless Santa Monica Resident Saved a Teenage Girl From a Vicious Attack

July 12, 2024

July 12, 2024

City Council’s Commendation for Wilker Was Made at Its Most Recent Meeting on July 9 By Zach Armstrong Santa Monica...

Santa Monica Launches Bitcoin Office to Educate and Innovate

July 11, 2024

July 11, 2024

New initiative aims to boost digital currency awareness, partnerships, and sustainable mining efforts The city of Santa Monica has unveiled...

Film Review: The Bikeriders

July 11, 2024

July 11, 2024

FILM REVIEWTHE BIKERIDERSRated R116 MinutesReleased June 21st, Still in Theatres, also online on Prime, Apple TV and other VOD platforms...

Both Drivers Have Been Identified in Fatal Malibu Crash on July 4

July 11, 2024

July 11, 2024

Collision on Pacific Coast Highway Leaves One Driver Dead Law enforcement officials have identified the drivers in the tragic accident...

(Video) Renowned Soprano Singer to Make L.A. Homecoming at Broad Stage

July 11, 2024

July 11, 2024

Golda is scheduled to perform on July 13 at 8 p.m. @smmirrornews This Saprano singer is set to take the...

Tartine Bakery Opens Venice Beach Location

July 11, 2024

July 11, 2024

A Throng of New Menu Items Are Exclusive to Tartine Venice By Zach Armstrong After more than two decades of going...

A Homeless Man in a Palisades Canyon Was Found With a Revolver. Its Property Owner Has Neglected the Site for Years

July 11, 2024

July 11, 2024

The Entire Canyon Is Now a Significant Fire Hazard, According to Officials By Zach Armstrong Within a Pacific Palisades canyon, one...

Council Approves Five-Year-Plan to Improve Big Blue Bus Services

July 10, 2024

July 10, 2024

The Initiative Aims to Expand Operating Hours, Improve Connectivity, and Create More Frequent Service By Zach Armstrong A five-year plan...

Santa Monica Has a New City Clerk

July 10, 2024

July 10, 2024

She Served as Interim City Clerk Since December Following the Retirement of Denise Anderson-Warren The Santa Monica City Council has...

Dine LA Restaurant Week Returns to Celebrate Culinary Diversity With Amazing Deals

July 10, 2024

July 10, 2024

Special Menus at Hundreds of Local Restaurants from July 12 to July 26 Dine LA Restaurant Week will be returning...

Reward Offered for Information on Abused German Shepherd Found Near Malibu Creek Canyon

July 10, 2024

July 10, 2024

Groups Seek Justice for Argon, Dog Discovered with Zip-Tied Mouth and Neck In Defense of Animals and Peace 4 Animals...