LOS ANGELES | Downtown Project Rundown 4.0

[LAofAnaheim]

Why is everybody here on a "blame the developer" mentality? Maybe you should think about how the City Planning is so out of whack working with a 1946 zoning code. That's where the anger should be, not at the developers. A developer wants to make money, like any sane person. But they have to work within certain regulations, otherwise, they'll be sued for millions. They're not dumb, they're people. If they could build taller buildings and make huge profits, they would. But here are the most prevalent problems that need to be addressed with zoning to make high-rise development more competitive:

1 - There is a big difference in design structures from 7 stories and below compared to 7 stories and above. I think that relates to steel frames needed for earthquake protection. Although safetly is always first, this could be a huge deterrant for expenditures for a developer. Maybe efficiencies in construction can be sought here with new technologies (i.e. how Wilshire Grand will NOT have a helipad due to better elevator technology).

2 - Parking variance. This is absolutely no reason we should continue to have high parking minimums in downtown LA. This is something reserved for non-transit friendly areas. This is a huge cost to the developer, and with everybody's fear of paying for parking, unfortunately, has to provide this to little to no cost to tenants or customers. A humongous sunk cost. Look at the revitalized neighborhood of the Old Bank District. Adaptive Reuse didn't require new parking and you see how that neighborhood gentrified in 10 years? Parking is not a need anymore, it's a desire. And people should pay market price. If they say "nobody will come without parking", well why isn't the Valley and OC more hot commodities than downtown LA?

3 - The density bonus needs to be bolstered. I don't know what it's at right now, but give developers flexibility to add more units/retail space. I think downtown LA's FAR (Floor to Area) ratio is considered low for a big city and needs to become more similar to SF or NY.

4 - No more than 1 parking entrance for a building, so we can maximize retail units at the bottom floors. Hopefully that cuts some cost for developers.

I'm sure there are a lot more things we can think about changing to helping developers build the right projects. But, seriously, it's a problem with City Planning and zoning. Going around and blaming developers for making money, when we ourselves want to make money, is kinda hypocritical.

That's my 3 cents.