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Multifamily Projects Could Break Records By Year's End

Downtown LA

LA developers may well add 13,430 new multifamily units to the market by the end of the year, according to a report from Marcus & Millichap.

That represents the fastest pace of development in 20 years.

It would more than double last year's 5,300 units, Curbed reports. The new units would be mostly market-rate apartments.

However, the Neighborhood Integrity Initiative slated for the March ballot could put a damper on future multifamily development if it passes.

It would enforce a two-year moratorium on big developments, banning most spot zoning and other amendments. [Curbed]