Jeffrey Bishop

Will the Ninth Circuit take this case on appeal? In my opinion, there is no nexus for making property owners bear the burden of supplying #affordablehousing in our communities. All members of society should bear the burden or put pressure on our elected officials to make policy changes that increase #housing supply and lower the cost to build new homes. “Despite its name, Seattle’s Mandatory Housing Affordability law does the opposite of what it intended — it makes it unaffordable for people like Anita to build housing on their own property,” Institute for Justice attorney Suranjan Sen said in a news release. The role of the Takings Clause is to ensure that particular individuals are not forced to “alone . . . bear public burdens which, in all fairness and justice, should be borne by the public as a whole.” In considering a challenge to a governmental action or regulation relating to private property, the Court must first evaluate whether a taking has occurred. https://lnkd.in/g28ap93N

4

2 Comments

“The new estimate is about triple [between $6.7 and $7.1 billion] the cost estimate provided in 2016 when the ST3 plan was approved, which, at $2.3 billion, was hardly a bargain. The revised cost is over $1.5 billion per mile for a line that is only four miles long and adds just four stations. On a per-mile basis that would make it one of the costliest light rail lines in the world, but nowhere near the most productive…. The fine print of the FEIS reveals total transit ridership in the region under the No-Build alternative would produce 99.7% of the ridership of the light rail alternative. In other words, the light rail extension [to West Seattle] would produce less than a one percent increase in total transit ridership for an investment of over $6 billion.” Faced with this information, it is now the duty of every elected official from Everett to Olympia to sit by themselves in a locked room, yell loudly, shut their eyes tightly and slap their ears repeatedly. Push what you learned far outside your mind, tell yourself it’s the responsibility of the unelected, unaccountable Board, and pray the media and the public move on to another issue while Sound Transit continues to squander billions. Billions that could have been applied to education, housing, transportation projects with cost/benefit, or even just (gasp!) left in the pockets of the taxpayers you represent. Whatever you do, never deign to even sheepishly raise your hand and suggest that maybe, just maybe, the plan is flawed, and the Sound Transit Board needs to stop wasting our money. And voters - keep doing the same thing while expecting a different outcome. The ST4 tax increase proposal is coming, I assure you.

66

14 Comments

I couldn't disagree with Mr. Schwartz's assessment of California's #housing crisis more. Government does in fact have significant impacts on the price of land, the cost of construction, job growth and the availability of skilled workers. Subsidized housing can't meet the need alone. -Government's police powers control land use through General Plans, Zoning, Sphere of Influence, Urban Growth Boundaries and other mechanisms. Land use dictates how much land is available and hence the price. More land available for development = lower land prices. -- The cost of construction in California is also one of the highest in the nation. Title 24 (energy code) and the State's building code are some of the most onerous in the US and significantly increase the cost of construction. --California's high fuel costs, are a major determinant of input costs such as concrete, asphalt, lumber and other building materials. -- High density, transit oriented development is prohibitively expensive. Many cities are clearly biased against missing middle housing such as townhomes, duplexes and garden style apartments which are far more cost effective to build. -- California's regulatory environment and high taxes on individuals and business impair job growth. Just look at the number of corporate relocations to more business friendly states such as Texas, Florida and Tennessee. -- California was once a leader in education. We created the UC system in 1868. To move forward, the state should invest in expanding trade schools to help expand the pool of highly skilled labor. Any way you cut it...policies matter. #CEQA might not be the cause of the housing crisis but it is a major deterrent to housing production and needs to be reformed especially for development within existing city boundaries. Even simply allowing victims of frivolous lawsuits to sue for damages would tip the scales of justice while still protecting the environment.

31

9 Comments

Irvine-based 4Terra Investments is reigniting a stalled housing project in San Francisco, proposing 203 apartments on a former car wash site. Originally it was an 184-unit plan in 2022 but due to high costs and low rents, the previous developer walked away. With rents rebounding to $2,900, 4Terra's plan is to build 203 units, making it one of the largest since the pandemic. Hayes Valley in San Francisco, is known for its strict zoning and anti-development sentiment, hasn’t seen new housing since 2021. 4Terra’s project is a significant step in addressing SF's sluggish construction scene, which saw just 960 new units last year, the lowest since 2012. What are your thoughts on this big project? https://lnkd.in/djivAyjW

10

3 Comments

"Enter Assembly Bill (A.B.) 1893, authored by Assembly member Buffy Wicks (D–Berkeley) and supported by California Attorney General Rob Bonta, which aims to make the builder's remedy process more predictable and functional for #developers and a little less scary and offensive for #cities." "Wicks' bill attempts to clarify the kinds of standards local governments can apply to #buildersremedy projects, streamline project approvals, and lessen project costs. For cities, Wicks' bill would impose #density caps on builder's remedy projects and limit the areas where they could be built." A.B. 1893 has passed the California Assembly and is currently being considered by the California Senate. https://lnkd.in/ghVj-UnR

7

1 Comment

“The $37 million overhaul of the structure is fully funded by the King County parks levy, Amazon, money from the state’s sale of carbon credits, Bellevue and Kaiser Permanente.” My thanks to Amazon, Kaiser Permanente and the guy in Asotin County that filled up his gas tank to pay for our bridge in Bellevue. I’m grateful for the voluntary private-sector contributions, and voters chose to support the parks levies in King County and Bellevue, but the Climate Commitment Act doubled the gas tax for the purpose of reducing carbon emissions and achieving the State’s goal of reaching net zero by 2050. The gas tax proceeds have created a multi-blllion dollar slush fund, and the money is being spent on projects that have as much to do with political graft as they do with reducing carbon emissions. It cannot be credibly argued that funding the restoration of a railroad trestle into a bike bridge is key to achieving net zero carbon emissions. And this project is not unique. See the link to the CCA’s current project funding list in the comments. We are only in Period 1 of the CCA. Starting in 2027, and every four years after that, the gas tax increases go up, and up, and up. If you agree that this is not the right path, I-2117 is the solution. Please vote this November.

41

14 Comments

Shadow space has been a topic of discussion in recent months, in particular the inland port markets (Inland Empire) that support the west coast ports of LA/Long Beach. According to reports from the Wall Street Journal many US retailers are pulling forward their holiday season imports in an effort to avoid delays out of China, Singapore, and Taiwan. We can expect that much of the shadow space in the IE is going to be absorbed in short order to warehouse the increased early demand.

2

This is 9108 Pittsburgh Avenue, Rancho Cucamonga. This property is in the Inland Empire West, an institutionally owned and managed Class B industrial park affectionately known as the Six Pack, or as the Rancho Cucamonga Distribution Center. It is 28,219 square feet total including 1,900 feet of office, which is just a small office pod of a reception, a private, a bullpen, a bathroom, and a break room. Then we have 21-foot warehouse clearance, and what’s unique here are the four grade-level loading doors on the side and four more dock-high loading doors on the back. So you not only have an abundance of grade level doors, but dock-level loading as well. This availability is part of a six-building project, so if you want to distribute from this property, you also have the availability of future spaces within the project to expand into. The price will be between $1.50 and $1.60 gross, and it will be available in the next 90 days. Let us know when you would like to tour. Grant La Bounty, Chris Vassilian, Will O'Neil. #ranchocucamonga #inlandempire #industrialpark #classb #distributioncenter #3pl #supplychain

30

1 Comment

💡Support Affordable Housing in Every Neighborhood!💡 Los Angeles is in the midst of a housing crisis, and the current CHIP Ordinance, while a step forward, doesn’t go far enough to address the city’s needs. Including single-family zones in CHIP incentives is a critical move to ensure we create enough affordable housing for everyone. City Planning’s own Housing Element Rezoning Program report (Exhibit D, Option 1) outlines a way to make this inclusion possible. This would: 1️⃣ Expand affordable housing options citywide, not just in lower-resourced areas. 2️⃣ Help workers live closer to their jobs, reducing long commutes. 3️⃣ Fulfill state requirements to Affirmatively Further Fair Housing (AFFH) and avoid legal challenges like the Builder’s Remedy. Excluding single-family zones perpetuates segregation and keeps the best-resourced areas inaccessible for many Angelenos. By adopting Exhibit D Option 1 and removing blanket exemptions for the Coastal Zone, we can build a more inclusive and equitable city. 👉 Take action now to urge L.A. leaders to adopt these changes: Sign here! https://lnkd.in/gCWZdANK Let’s work together to make Los Angeles a place where everyone can find a safe, affordable home. #AffordableHousing #CHIPOrdinance #HousingCrisis #LosAngelesHousing #FairHousing #UrbanDevelopment

11

Chandler, AZ Economic Development: Infill and Redevelopment Forum. Heather Personne, Rommie Mojahed and Manjula Vaz shared insights and trends in the Pandora’s box that can be redevelopment projects. Downtown Chandler is evidence of successful redevelopment. Michael Pollack has evidenced this for decades. But what does that look like? What can be done with the people that are already there to help them be a part of the vision, success? City of Mesa has shown success with it’s diversity of its submarkets, giving each area an identity, for example Longbow or the Asian District. By doing so the community support and involvement has increased. The interest by complimentary uses is peaking. Redevelopment translates to surprises. It isn’t for those that cannot handle a curve ball. Keeping an opportunistic mindset and an optimistic attitude is key to navigate theses waters. #redevelopment #infill# #chandler #arizona City of Chandler Economic Development City of Chandler, Arizona Women in Commercial Real Estate - #womenincre Evolve Ventures, LLC CRE8 Advisors Gammage & Burnham GPS Commercial Advisors

57

2 Comments

Santa Clara County's median #home price recently eclipsed the $2 million mark. #SanJose has traditionally built the most homes in Santa Clara County so I took a look at the number of building permits issued by each mayor in #SanJose since 1983. Clearly policy matters and anti-housing policies have come at the expense of #housing production and #affordability for San Jose residents based on the data. Each elected Mayor has served 8 years starting with Mayor McEnery. Matt Mahan started his term in 2023 and was just reelected so the jury is still out on his effectiveness. With the exception of Mayor Gonzales, housing production has steadily declined from a peak of 29,083 permits or 3,635 annually under Mayor McEnery to a low under Sam Liccardo with 16,399 or 2,050 annually. How did we get here? Although building permits were higher during Chuck Reed's tenure despite enduring the great recession of 2008 and his push to thwart conversions of "employment" lands to residential zoning, his policies would significantly impede housing production in the future. - Adopted in November 2011, the Envision San Jose 2040 General Plan guided land use decisions and emphasized the importance of preserving and enhancing employment lands, particularly those that support industrial and manufacturing activities. This general plan also developed the concept of focusing #residential development within 58 Urban Villages and downtown. - Adopted in 2010 under Mayor Reed and amended in 2021 under Mayor Liccardo, the Inclusionary Housing Ordinance (IHO) significantly raised the cost for new homeowners by requiring all new residential developments to designate units as affordable to households with restricted incomes. The in-lieu fee for for-sale residential product now exceeds $29 PSF and $49 PSF for rental projects in some submarkets. San Jose is a mature city with limited vacant land suitable for new housing development especially with Coyote Valley now off-limits. Much of the available land is already zoned for industrial or commercial use. Without a new approach to #landuse, housing production will continue to decline. The City's land inventory contains hundreds of obsolete commercial and industrial properties as well as religious properties that make sense for conversion. Efforts to permanently reduce #fees could also help change the calculus in producing more housing, but the City Council has historically opted to make these changes temporary linking them to some arbitrary timeline instead of production goals. A universal fee that was capped at 3% of the gross sales price of a new home would be progressive, lower the cost of construction and go a long way towards improving transparency for homebuilders.

15

3 Comments

The least affordable metro area for America’s middle class: San Jose-Sunnyvale-Santa Clara "The San Jose-Sunnyvale-Santa Clara metro area in California is the least affordable for all middle-class income ranges in the U.S., according to the report." - To afford a house in the San Jose area, you will need to make $468,252 — the highest of all 221 U.S. metro markets surveyed in an April National Association of Realtors report. - In addition, the average San Jose home value is $1,461,923, up 10.1% over the past year, according to Zillow. - In its report, Creditnews Research warns that the San Jose-Sunnyvale-Santa Clara metro area runs the risk of becoming a “donut city” as rising costs lead to a “wave of out-migration where residents and businesses relocate to the suburbs.” https://lnkd.in/g5BP6b2X

16

1 Comment

INDUSTRY NEWS The NIC Senior Housing Analyst Review and Outlook Series inaugural segment provides insights into the senior housing market from 2024 to 2026, emphasizing the gap between construction pace and growing demand. #SeniorHousing #HousingTrends

8

Third Party logistics operators (3PL’s) are all throughout Southern California, moving goods for corporate America, but right now there is a lot of juggling of contracts as corporate America is trying to be more efficient and leaner, trying to offload expenses. So if you are a 3PL, you might have a mismatch between the space you signed up for and the amount of space you’re using. Consequently, if you’re corporate America, you might find some 3PL‘s give you better pricing if they’re in between contracts with other customers. So it’s important to know who has space, for how long, and how motivated they are to move what they’re not using. That’s where we can help you!

65

2 Comments

Sales of existing single-family homes in California totaled 275,540 in April, up three percent from March and 4.4 percent year-over-year, according to a report. Statewide, the median price of a home during the fourth month of the year was $904,210, a 5.8 percent from March and an 11.4 percent increase from one year earlier, the California Association of Realtors reported. That was a record median price for the month of April, but sales remained below 300,000 for the 19th consecutive month.

1

Sacramento is no longer just a political and cultural center; it is emerging as a significant industrial hub. The region’s strategic advantages, access to major freeways, and rail infrastructure, underscore the potential for continued growth in Sacramento’s industrial real estate market. As the market continues to evolve, Sacramento stands out as a location where businesses can thrive, supported by a dynamic and growing economy. At Capital Rivers Commercial, we’re proud to be part of this momentum, helping companies find the right spaces in Sacramento. 👉 Read more here: #Sacramento #IndustrialRealEstate #CRE #BusinessGrowth #CapitalRivers

26

1 Comment