Californians Vote Down Rent Control Expansion
November 7, 2018

Californians Vote Down Rent Control Expansion

Next week! Fulcrum Property, Heller Pacific and The Hodgson Co. discuss Sacramento's burgeoning real estate market | Sacramento State of the Market

More than 61% of California voters Tuesday rejected Proposition 10, which would have expanded city authority over rent control measures. The proposition would have repealed the Costa-Hawkins Rental Housing Act, a 1995 law that restricts rent control measures.

This latest effort was among the strongest appeals to provide rent control across the state and gained support from the Democratic Party and large activist organizations.

Landlords and developers fought back, spending over $76M campaigning against the proposition, according to the California Secretary of State. Early October polls suggested that Prop. 10 was losing ground among Californians with nearly half of Californians against the expansion of…

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How California Voted On Propositions That Affect CRE

There could be a boom in affordable housing development in California in the coming years or decades with the outcome of the 2018 election. 

The California election results are yet to be official but several statewide propositions, including funding for affordable housing for low-income, mentally ill residents and veterans, along with local measures on the ballot have a far enough lead to call it. 

Over the coming days or weeks, more mail-in ballots will be counted before the election is finalized.

Here are the results — as of Wednesday — of the state propositions and local measures that could impact the commercial real estate landscape in the state. You can read our previous coverage of how these could affect the industry…

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Survey Says: While Opportunity Zones Will Reshape U.S. Cities, Many Low-Income Communities May Remain Overlooked

The results are in: The commercial real estate industry is largely optimistic about the possibilities of the Opportunity Zone program, and most are getting their ducks in a row to take advantage of it.

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Long Island City Might Get 25,000 Amazon HQ2 Jobs. Here's Who Would Benefit.

After almost a year of fevered anticipation, Amazon is on the brink of announcing its pick for HQ2. And if recent leaks are to be believed, commercial real estate players in the Queens neighborhood of Long Island City may be the big winners.

Monday, the New York Times reported that Amazon plans to select two locations — Long Island City and Crystal City in Arlington, Virginia — and could split the 50,000 employees over both cities in order to lower the impact on their housing markets and transit networks.

Amazon announced a shortlist of cities for its highly anticipated second headquarters back in January, but despite widespread speculation and commentary over which city would land the campus, the process has been largely shrouded in mystery all year.

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