Late last year, a Superior Court judge placed a moratorium in the most glamorous neighborhood in the U.S. The spooky-sounding term means that existing Beverly Hills homes are stuck in Limbo until plans for affordable housing are provided. These are the most recent details about the developing story…
Superior Court Ruling Leaves Many Beverly Hills Home UNFINISHED
When you imagine Beverly Hills homes, you picture swimming pools…
Movie stars…
However, the December 23rd ruling by Judge Curtis A Kin has left angry residents with half-done cement ponds.
IN SHORT, THERE CAN BE NO RENOVATIONS TO PRESENT PROPERTIES UNTIL ADDITIONAL, “AFFORDABLE” PROPERTIES ARE APPROVED…
That includes remodels that have already begun.
The exclusive 5.7 square miles is notorious for being unattainable for homebuyers on a budget. So, what’s the big deal now?
Well, it is the fact they’ve circumventing state law for years…
A HARD STOP to Special Treatment in the Famed Zip Code
Since 2015, California has enforced the Housing Element. This set of laws addresses one of the Golden State’s major real estate problems — affordable housing.
Under this act, every city must submit its proposed and current structure for accommodating tenants of all income types.
YET, THE NEW YORK TIMES REPORTED BEVERLY HILLS HAS BEEN WELL-BELOW THEIR MINIMUM NUMBER OF HOMES SINCE AT LEAST 2018.
The New York Times
This past week was the deadline for the city’s most recent attempt to appease the state. Nonetheless, many wonder if these initiatives are workable in A-list neighborhoods…
Are Affordable Beverly Hills Homes Even Possible?
As for the question of whether having homes for everyone in Beverly Hills is even viable, it depends on who you ask…
Homeowner in the posh area, Aaron Kirman, told the Hollywood Reporter:
“THE REALITY IS, BEVERLY HILLS DOESN’T HAVE MUCH LAND. I THINK THAT [JUDGE KIN] PUT EVERYBODY IN A VERY COMPLICATED AND COMPROMISING SITUATION.”
On the other hand, affordable housing advocates counter that the city has plenty of land and is a job magnet. Therefore, having homes for middle and lower-income families is almost a necessity in Beverly Hills.
The latest blueprint proposed has a 54-unit apartment building with six units reserved for lower-income families.
It is uncertain whether this is enough to meet the current legal requirements. But until we know, there will be fewer marble bathtubs in Beverly Hills.
Be Great,
GCTV Staff
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