City News Service (CNS) in Los Angeles reports that The Los Angeles City Council voted today to start the process of creating zoning that could protect low-income communities from the economic effects of luxury housing complexes that do not provide “affordable” units and could drive up nearby property values.
Los Angeles City Council President Herb Wesson proposed creating the zoning overlay in September, highlighting the need for “anti-displacement zones” that would protect current residents.
A letter sent by Los Angeles City Council President Herb Wesson to the council’s Planning and Land Use Management Committee in late October asked that minimum requirements be set on the number of affordable housing units made available in newly constructed housing complexes that are near economically disadvantaged neighborhoods.
In his proposal, Wesson acknowledged luxury apartments and condominiums have the ability to enhance economic prosperity, but he said long-established communities that aren’t suited to take on quickly rising property values could be upended when such housing is constructed.
This Proposal comes as accusations against Wesson’s son being given preferential treatment in the form of a no rate rent increase on his apartment for 4 years are mounting.
The City Council voted 11-0, without discussion, to study the feasibility of creating anti-displacement zones based on Wesson’s proposal.