Busy, busy, busy
They're voting in L.A. tomorrow on a ballot measure that would put the City of L.A. literally a billion dollars deeper in debt in the name of "affordable housing." And guess who's pumping big bucks into the "yes" campaign. From a story in the L.A. Times:
[C]ontributions keep flowing in to support a $1-billion housing bond measure, Proposition H, on the city ballot. That campaign's fundraising total so far is about $3 million.Bring on those "affordable" studio apartments. Down there, they'll probably start at $499,000.A campaign committee established by Mayor Antonio Villaraigosa to promote his restructuring of the Los Angeles Unified School District gave $25,000 to support the housing bond.
The Building Industry Assn., already one of the largest donors to the campaign, sent another $25,000; and Beverly Hills financier Arthur Levine donated $25,000.
Williams & Dame Development, based in Portland, Ore., gave $17,500. The firm is building three residential towers in the South Park area of downtown Los Angeles near Staples Center.
| Posted at 2:35 AM | Permalink |
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Comments (5)
Williams & Dame Development, based in Portland, Ore., gave $17,500. The firm is building three residential towers in the South Park area of downtown Los Angeles near Staples Center.
Wow....
Its like a virus that needs to be stopped.
Posted by Jon | November 6, 2006 7:45 AM
Wait a minute, Jack, didn't you join the "no growth" bandwagon a few months back?
No new housing supply? THAT would get housing prices up a bit, don't you think?
Unless, of course, we get rid of all the new jobs too, and become another Scranton or Rochester or Syracuse.
Is that a desirable result?
Posted by Matilda | November 6, 2006 8:38 AM
didn't you join the "no growth" bandwagon a few months back?
No. I've been on it for nearly 30 years.
No new housing supply?
Nice try, but I never said anything like that. No more ugly, out-of-place condo farms. There's a difference.
Thanks for trolling by.
Posted by Jack Bog | November 6, 2006 12:00 PM
Erik/Sam - Finally a new way to build $500K affordable housing. What the heck one more expensive condo and the state will fall in the ocean.
I must give Homer/Gerdling et al credit, they have figured out how to get welfare from the government way better than anybody else. Just keep preachin' the mantra - density/theater/bikes.
Posted by Steve | November 6, 2006 6:23 PM
I was at a North Macadam meeting several years ago with planners and developers and I remember a remark by a senior planner that the City liked working/partnerships with Homer/Gerdlin et al because they understood and talked the language of density/green/ mass transit/bikes, etc. And the senior planner actually admitted that these partnerships were warrented even without competitive bidding. "Talking the language" also was awarded "points" if a project was in a bidding process, and was "very important" to the city's decision of awarding a contract. That is why these public/private partnerships are such a "spoof", and unfair to other competitors.
Posted by Jerry | November 6, 2006 10:13 PM