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REVIVING MULTIFAMILY HOUSING DEVELOPMENT: HURDLES AND OPPORTUNITIES
With a shortfall of available financing, falling rents, and unstable home prices, it is nearly impossible to undertake new residential development for apartments and condominiums. However, market conditions are continually shifting. During this panel, a top researcher, a leading developer, and a city planning department representative will explore the evolving state of the multifamily housing market. Specifically, the panel will review today’s key challenges and opportunities relating to entitlements, affordability requirements, construction, broken or incomplete condominiums, recent legislation affecting multifamily real estate, and overall project feasibility. Finally, the panel will offer its perspective on what the future holds for this unique facet of the real estate industry.
MODERATOR
Benjamin Reznik, Partner
Jeffer, Mangels, Butler & Marmaro LLP
Benjamin Reznik’s practice focuses on real estate development entitlement, zoning, energy, licensing, administration, and regulatory issues. His extensive litigation experience includes Landgate v. California Coastal Commission 17 Cal. 4th 1006 (1998) and his recent approved projects include more than 3,000 apartment units in downtown Los Angeles for GH Palmer and one million square feet at the Pantages Theater for Clarett Group.
PANELISTS
Jane Blumenfeld, Acting Deputy Director
City of Los Angeles, Department of City Planning
Jane Blumenfeld is acting deputy director of the Los Angeles Department of City Planning, overseeing the development of new community plans and citywide housing and development strategies. Ms. Blumenfeld served as planning advisor to the late Mayor Tom Bradley and chief of staff to former Los Angeles City Councilman Mike Feuer.
Robert Gardner, Managing Director
RCLCO
Robert Gardner is the managing director of RCLCO. Mr. Gardner heads all residential, commercial, economic, and litigation support assignments dealing with market evaluation and positioning, economic base assessment, financial feasibility, and fiscal implications of commercial and residential real estate projects. He has more than 35 years of experience, 23 of which have been at RCLCO.
Renata Simril, Senior Vice President
Forest City Development – West Coast
Renata Simril manages all aspects of the development process, from the acquisition, entitlement, and design phases through the completion of construction, for Forest City’s Southern California operation. Prior to joining Forest City, Ms. Simril served as the Deputy Mayor for Economic Development and Housing for Los Angeles under the Hahn Administration.
Return to Breakout Sessions Listing>
With a shortfall of available financing, falling rents, and unstable home prices, it is nearly impossible to undertake new residential development for apartments and condominiums. However, market conditions are continually shifting. During this panel, a top researcher, a leading developer, and a city planning department representative will explore the evolving state of the multifamily housing market. Specifically, the panel will review today’s key challenges and opportunities relating to entitlements, affordability requirements, construction, broken or incomplete condominiums, recent legislation affecting multifamily real estate, and overall project feasibility. Finally, the panel will offer its perspective on what the future holds for this unique facet of the real estate industry.
MODERATOR
Benjamin Reznik, Partner
Jeffer, Mangels, Butler & Marmaro LLP
Benjamin Reznik’s practice focuses on real estate development entitlement, zoning, energy, licensing, administration, and regulatory issues. His extensive litigation experience includes Landgate v. California Coastal Commission 17 Cal. 4th 1006 (1998) and his recent approved projects include more than 3,000 apartment units in downtown Los Angeles for GH Palmer and one million square feet at the Pantages Theater for Clarett Group.PANELISTS
Jane Blumenfeld, Acting Deputy Director
City of Los Angeles, Department of City Planning
Jane Blumenfeld is acting deputy director of the Los Angeles Department of City Planning, overseeing the development of new community plans and citywide housing and development strategies. Ms. Blumenfeld served as planning advisor to the late Mayor Tom Bradley and chief of staff to former Los Angeles City Councilman Mike Feuer. Robert Gardner, Managing Director
RCLCO
Robert Gardner is the managing director of RCLCO. Mr. Gardner heads all residential, commercial, economic, and litigation support assignments dealing with market evaluation and positioning, economic base assessment, financial feasibility, and fiscal implications of commercial and residential real estate projects. He has more than 35 years of experience, 23 of which have been at RCLCO.Renata Simril, Senior Vice President
Forest City Development – West Coast
Renata Simril manages all aspects of the development process, from the acquisition, entitlement, and design phases through the completion of construction, for Forest City’s Southern California operation. Prior to joining Forest City, Ms. Simril served as the Deputy Mayor for Economic Development and Housing for Los Angeles under the Hahn Administration.Return to Breakout Sessions Listing>