The City of Rockville and Montgomery County are addressing affordable housing with differing approaches. Both jurisdictions took action on rent control this summer, with plans for future legislation or applicable regulations...more
New York recently adopted the Affordable Neighborhoods for New Yorkers (ANNY) Tax Incentive and the Affordable Housing from Commercial Conversions (AHCC) Tax Incentive programs, as well as a host of other new and modified...more
The city of Berkeley will pay $4 million in connection with its mishandling of an application to build 260 housing units on the old Spenger's parking lot. Alameda County Superior Court Judge Frank Roesch fined Berkeley $2.6...more
Happy Holidays to all. We are still hopeful that Santa brings everyone some relief from rent control and other multifamily restrictions (we heard that the new BEPS Regulations preclude Santa from leaving coal for legislators...more
Our most recent Alert included details and updates on rent control, proposed FTC regulation of rental housing junk fees, security camera mandates, and new ROFR proposals. Here is a link to the November 15 Alert. Below are...more
As a follow-up to our recent alert, here are some updates on rent control and other activities in the region impacting multifamily properties...more
The California Coastal Commission approved a landmark settlement Wednesday with San Diego’s Paradise Point resort aimed at remedying years of Coastal Act violations that have long inhibited public access to the waterfront on...more
The New York State Assembly officially closed out the 2023 legislative session last Wednesday. 896 bills passed through both houses of the state legislature, with over 600 of them receiving approval in the month of June. The...more
Summary - The Rent Stabilization Act signed into law by Prince George’s County Executive Angela Alsobrooks restricts County landlords from increasing tenants’ rent above 3 percent over a 12-month period. Separately,...more
Orange County’s "rent stabilization" measure is now officially on the November ballot. The exact language on which Orange County voters will vote (and are in fact already voting if they opted to get a vote-by-mail ballot)...more
At its August 9, 2022 meeting, the Orange County Board of County Commissioners narrowly voted 4-3 in favor of placing a Rent Stabilization Ordinance on the November ballot. Commissioner Bonilla, Commissioner Gomez Cordero,...more
On Tuesday, July 26, 2022, the Orange County Board of County Commissioners (“BCC”) voted unanimously to approve a new Rental Notices Ordinance aimed at protecting residential tenants. The new ordinance requires Orange County...more
The 421-a tax exemption and rent stabilization program, also known as the affordable housing tax break, which affords real estate developers a tax break in developing affordable housing in New York City, has expired as of...more
Expanding and preserving affordable housing continues to be a top priority for the District of Columbia Council (D.C. Council) at the beginning of the new year. The impacts of COVID-19, particularly the associated job losses...more
We have some great updates in the STR space this week, including: Vacasa Reaches Unicorn Status - (“Real estate’s newest unicorn: Vacasa raises $319 million, now valued at more than $1 billion,” HousingWire on Nov 1, 2019)...more
Recent Cases - Land Use and Entitlements The Second District Court of Appeal rejected a California Environmental Quality Act challenge to a mitigated negative declaration for a 24-room boutique hotel (the “Project”) in...more
A number of questions have arisen concerning the impact of the recently adopted Housing Stability and Tenant Protection Act of 2019 (HSTPA) on the Section 421-a Tax Exemption Program. HSTPA (Chapter 36 of the Laws of 2019)...more
Federal Court Upholds Termination of Navy Lease Bid Due to Environmental Concerns - In Open Spirit, LLC v. United States, No. 15-370C (Fed. Cl. filed April 28, 2017), the U.S. Court of Federal Claims upheld the...more