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hardtke | 3 years ago

The same "Builder's Remedy" kicked in last year in many Southern California cities when they missed similar deadlines, and as far as I know it has led to approximately (if not exactly) zero new construction.

discuss

order

another_story|3 years ago

How closely are you following residential home building in most of Southern California that you're able to make this statement?

majormajor|3 years ago

It takes time.

https://therealdeal.com/la/2023/01/18/shekhters-ws-communiti...

Here, for instance: "Santa Monica officials later indicated they would wait to respond until WSC filed its full project application, which is due six months from the preliminary filing."

Interesting that the developer that started the commotion is listing some of the sites they started the application process on for sale, but not necessarily indicative of it not going to happen - "Even as it prepares the listing WSC is still moving ahead with the full application, Walter confirmed this week." from this Jan 2023 article. Could just be looking to offload some risk to someone else who now thinks there's enough of a chance of these things getting built to pay more for the lots than they would've last year.

cheriot|3 years ago

It take years to get construction approved in CA so not sure the ending has been written.

more_corn|3 years ago

Something about that turn of phrase makes me smile. Intellectual humility while making a strong statement.