The Los Angeles Business Council joins the Southern California community in mourning the loss of life from the devastating fires, whose impact threatens communities and livelihoods across Los Angeles for years to come.
As the region focuses on rebuilding, we are heartened by the actions of Governor Gavin Newsom and Mayor Karen Bass to expedite that process in order to address the urgent needs of thousands of displaced residents and destroyed businesses.
Their focus on streamlining development in the affected areas underscores the institutional reforms we believe are needed to ease the shortage of housing across Los Angeles.
As the current crisis puts new pressure on the region’s housing supply, findings by UCLA and CSUN researchers published in a recent LABC study become more vital than ever.
Researchers identified that it takes five years to complete the average unit in a multifamily property in the city of Los Angeles and outlined several recommendations to streamline the development timeline.
This is an important moment for Los Angeles to not only facilitate a strong recovery from this tragedy but also address the longstanding housing crisis that continues to challenge our region.
