Aimed at solving the home affordability crisis in the City of Los Angeles, the plan calls for increased production of housing at all income levels, including very low- and low-income and workforce housing. The plan then offers a set of realistic, practical and proven ways to achieve the goal.

The City of Los Angeles currently has a housing shortage of over 100,000 units. Housing production has not kept up with a growing demand. Last year, the City of Los Angeles added fewer than 9,000 new units in a year where the population grew by more than 65,000 new residents. The shortage of supply is the key element in escalating home prices and decreased mobility.

An “inclusionary zoning” proposal now before the City Council could make things worse. The coalition of business and civic leaders is offering the “Housing for All: Fair Share Program” as a workable alternative.

“Affordability begins with availability,” said Ray Pearl, executive officer of the BIA/GLAV. “The only true policy to solve the home affordability crisis in Los Angeles must address the supply and production of new homes for families at all levels of income – from very low- and low-income to our working families like our firefighters, police officers, teachers and nurses. Only then will we meet the demand that has caused the price of homes to escalate beyond the grasp of the City’s residents and workforce. Every employee who protects, nurtures and betters our community should be given the opportunity to live here as well.”

To solve the problem of escalating home prices and the discrepancy between housing production and population growth, the CCA and BIA/GLAV have proposed the “Housing for All: Fair Share Program” a comprehensive housing policy which addresses the root cause of our City’s housing crisis, the lack of production of new housing to adequately serve the needs of all segments of the population.

The “Housing-For-All” Program would increase the production of housing for families across all income levels. It would equally distribute the new housing units among each of the council district, thereby sharing the increased housing throughout the City. It would provide incentives to build more housing by cutting through the red tape. It rejects one-size-fits–all regulation and encourages flexibility and neighborhood control. The Program focuses on “workforce” housing for police and firefighters and teachers, while also raising the funds necessary to build more affordable housing for those with low- and very low-incomes. The cost of providing affordable housing would no longer be borne by first-time workforce and middle-class homebuyers, and would instead be distributed more fairly.

The Central City Association and Building Industry Association are joined by a coalition of business and civic groups in support of the “Housing-For-All” Program, including: Los Angeles Police Protective League, Los Angeles Area Chamber of Commerce, BOMA of Greater Los Angeles, Southland Regional Association of Realtors, Pasadena-Foothills Association of Realtors, Glendale Association of Realtors, Valley Industry and Commerce Association, Apartment Association of Greater Los Angeles, California Apartment Association of Los Angeles, Greater Los Angeles African American Chamber of Commerce, Beverly Hills/Greater Los Angeles Association of Realtors.