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Multifamily Projects Could Break Records By Year's End

Downtown LA
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]