The Los Angeles City Council voted in favor of expanding the citywide adaptive reuse ordinance in an effort to stimulate housing growth by making it easier for developers to convert vacant offices into housing. The new ordinance repeals Los Angeles’ existing Adaptive Reuse Incentive Areas Specific Plan, which limited conversions to certain parts of the city including downtown, Chinatown, Hollywood and Koreatown, opening all areas within city limits to adaptive reuse projects, Bisnow reported. The new legal framework also lowers the age of the buildings that can be considered for adaptive reuse to structures that are at least 15 years […]
This article originally appeared on The Real Deal. Click here to read the full story.
Powered by WPeMatico