LA developers still cautious, despite Measure S defeat

Los Angeles /
Mar.March 10, 2017 03:18 PM

The party seems to be winding down for those who fought Measure S, the anti-development initiative voters swiftly rejected this week.

Developers are now proceeding with caution, aware that the ballot measure exposed widespread anti-development sentiment and a mistrust of the planning process in Los Angeles. 

Many developers say they’re taking the hint and will not be going on any building sprees in celebration of its defeat, the Los Angeles Times reported.

Kevin Farrell, chief operating officer of Century West Partners, told the L.A. Times the ballot measure reminded the development firm to move carefully.

Other firms echoed the same sentiment, saying they’d scrutinize potential deals and make sure it had support from community members and City Council ahead of time.

Mark Tarczynski of Colliers International said Measure S was too far-reaching but showed how important it was for city officials to update zoning codes.

City Council made plans just prior to the election to have its codes updated by 2024.

“Nothing is better for us than having a fully vetted community plan that’s been through the war and everyone’s weighed in,” Farrell said to the Times. “That is all we can ask. We don’t go in and buy a site to pick a fight.” [LAT]Subrina Hudson


Related Articles

arrow_forward_ios
Los Angeles apartments (Credit: iStock)

Expanded unemployment has kept California renters afloat. But that’s set to expire

Expanded unemployment has kept California renters afloat. But that’s set to expire
A rendering of Times Mirror Square

Onni Group’s Times Mirror Square project clears major hurdle

Onni Group’s Times Mirror Square project clears major hurdle
Gary Gold, Paul George, Deandre Jordan, Jeff Bezos, and Garrett Camp (Credit: Getty Images, Flickr, Hilton & Hyland, Google Maps, Realtor, Pinterest, and iStock)

Long live NAR: Agents won’t defy powerful trade group in pocket listings spat

Long live NAR: Agents won’t defy powerful trade group in pocket listings spat
Mitchell Englander in front of L.A. City Hall (Credit: Lilly Lawrence/Getty Images, and iStock)

Ex-LA council member surrenders to FBI in real estate probe

Ex-LA council member surrenders to FBI in real estate probe
David Ryu (Credit: Getty Images)

LA becomes 1st city to enact ban on developer money

LA becomes 1st city to enact ban on developer money
From left: Jose Huizar, Huang Wei, Mohamed Hadid, Robert Herscu, Raymond Chan, and Arman Gabay, with Los Angeles City Hall (Credit: iStock and Getty Images)

Real estate’s role in LA corruption scandals

Real estate’s role in LA corruption scandals
From left: Governor Gavin Newsom, Assemblymember David Chiu, Senator Holly Mitchell, and Senator Nancy Skinner (Credit: Getty Images)

Here are the key housing and rent control bills state lawmakers are debating

Here are the key housing and rent control bills state lawmakers are debating
Assemblymember Phil Ting

Statewide pot shop bill gets smoked

Statewide pot shop bill gets smoked
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...