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CCA Holds Meeting on Phased Occupancy
As high rise residential towers become taller, and project pro formas require a return on investment sooner, CCA and its member
The South Group
coordinated a meeting to discuss phased occupancy in Downtown. Phased occupancy allows developers to request a temporary certificate of occupancy (TCO) for a completed section of the project, while another portion of the project is still under construction. Moving in some residents early gives developers the opportunity to generate revenue sooner through incoming rents or closed escrows. This is an important process for developers; however, it often takes substantial time just to gain the TCO, as requirements, especially related to fire sprinklers, are stringent.
The committee discussed several technical matters, including sprinkler and stairwell pressurization requirements, and decided to form a working group to offer the City suggestions for decreasing the amount of time needed to gain a TCO.
Captain Bob Holloway
of the Los Angeles Fire Department and
Michael Martin
of the Department of Building & Safety, who attended the meeting, encouraged the committee to continue discussions with them and offer suggestions.
This meeting is part of a larger CCA initiative to advocate for more flexibility and creativity in Los Angeles development standards. Initiated with a trip to Portland last spring, CCA's President & CEO
Carol Schatz
has made it a priority to coordinate with the City and developers on ways to make development standards more flexible, design-oriented, and developer-friendly.
CCA Monitoring SB 1818 Progress
CCA has been closely monitoring the progress of SB 1818, the revised state density bonus law, as it makes its way through City Council. In effect since January, 2005, SB 1818 requires cities and counties to adopt density bonus enhancements in exchange for affordable housing creation into their zoning code. Los Angeles has been working to implement the new code requirements for over a year. CCA is concerned that the City's implementation ordinance does not provide developers the level and flexibility of incentives mandated by the state, and that this could be a lost opportunity for affordable housing creation.
The City's Affordable Housing and Planning Commissions held a joint meeting this week to discuss technical requirements of the ordinance, including moderate income housing set aside and density bonus requirement, comparability standards, homeowner association fees, resale restrictions, and reinvestment requirements. The ordinance has already been approved by the Council's Planning & Land Use Management Committee and Housing, Community, and Economic Development Committee.
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• CCA's Government Relations Committee will be discussing and taking action on November City and State ballot measures at their meeting next Tuesday.
CCA IN THE NEWS “[A moratorium] sends absolutely the wrong message at absolutely the wrong time, because the condo market is slowing down significantly,” said Carol Schatz, who heads the Central City Association. “And while there may be some projects still in the pipeline, there aren’t that many. It scares investors anytime you talk about a moratorium, and let’s not forget that housing drives the L.A. economy.” Aug 15, LA Weekly , " Soulless Converts ," by David Zahneiser.
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