What Is The Path Forward For LA Affordable Housing Amid Budget Cuts And Tariffs?
On April 21, Los Angeles Mayor Karen Bass unveiled a 2025-2026 fiscal year budget plan to address the estimated $1B deficit the city may soon face. Significant impacts from January’s historic wildfires coupled with widespread market uncertainty have led Mayor Bass to propose major budget cuts.
Among the sectors that would be impacted by the budget is affordable housing. If the budget is approved, the city’s financing for new affordable homes would decline by 80%.
Additionally, according to the National Association of Home Builders, the Trump administration's increased tariffs on steel, aluminum and softwood lumber may also be detrimental to affordable housing, escalating the prices of construction materials.
Commercial real estate professionals looking for current insights on the affordable housing market in LA can attend Bisnow’s Los Angeles Affordable Housing Conference on May 7. Attendees will learn about the areas in LA that are on developers’ radars for bringing in more affordable housing, the solutions being used to finance and deliver this much-needed housing as well as key design and development trends.
Click here to register and purchase tickets.
This event will feature a keynote address from BRIDGE Housing President and CEO Kenneth Lombard as well as the following panels:
- The Plan To House LA
- Development And Design Of Affordable Housing Throughout LA
- Financing And Funding Affordable Housing In A Volatile Market
Here are five reasons to attend this conference:
- Hear from panelists, including Lourdes Castro Ramirez, president and CEO of the Housing Authority City of Los Angeles; Carolyn Patton, director of real estate development of the West Angeles Community Development Corporation; Ekta Naik, senior vice president and head of real estate at SoLa Impact; and John Williams, president, chief information officer and chief operating officer of Avanath Capital Management.
- Learn more about how the LA wildfires in January have taken a toll on affordable housing.
- Discover the different financing options for affordable housing.
- Gain insight into how CRE professionals are contending with the challenge of building this housing in LA and navigating heightened tariffs on construction materials.
- Network with some of the biggest players in this region, including investors, developers, owners, brokers and more.
Don’t miss out on the opportunity to dive into trends and developments in LA affordable housing and build connections with other CRE professionals. Sign up for Bisnow’s Los Angeles Affordable Housing Conference.
Studio B is Bisnow’s in-house content and design studio. To learn more about how Studio B can help your team, reach out to studio@bisnow.com.
