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How Los Angeles Mansion Tax Impacts Affordable Housing | Chris Tourtellotte

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Manage episode 405238267 series 3364485
Content provided by Siyamak Khorrami. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Siyamak Khorrami or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

“You’re going to see housing supply dropped. Investors are no longer looking at the city of LA because it’s too risky. Why would you sell a property, if you would have to give all your profit to the city?”

Siyamak sits down with Chris Tourtellotte, managing director of LaTerra, a large real estate development company based in California. He'll discuss some key challenges facing developers, including the “Mansion Tax” in Los Angeles, the environmental review process, demand for different housing types, and the impact of policies such as rent control.

“I use the word ‘deceptive’ because it was called the ’mansion tax.‘ But when they realized that ... this applies to all classes of real estate, including affordable housing projects, you kind of go, ’Oh, wait a minute. That’s not a mansion tax,'” Mr. Tourtellotte said. “People say your land is not worth much because of this tax in the end.”

  continue reading

140 episodes

Artwork
iconShare
 
Manage episode 405238267 series 3364485
Content provided by Siyamak Khorrami. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Siyamak Khorrami or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

“You’re going to see housing supply dropped. Investors are no longer looking at the city of LA because it’s too risky. Why would you sell a property, if you would have to give all your profit to the city?”

Siyamak sits down with Chris Tourtellotte, managing director of LaTerra, a large real estate development company based in California. He'll discuss some key challenges facing developers, including the “Mansion Tax” in Los Angeles, the environmental review process, demand for different housing types, and the impact of policies such as rent control.

“I use the word ‘deceptive’ because it was called the ’mansion tax.‘ But when they realized that ... this applies to all classes of real estate, including affordable housing projects, you kind of go, ’Oh, wait a minute. That’s not a mansion tax,'” Mr. Tourtellotte said. “People say your land is not worth much because of this tax in the end.”

  continue reading

140 episodes

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