The Legislative Edge
Get California real estate legislation decoded into practical underwriting and financing decisions.
Get it in your inbox
Get California real estate legislation decoded into practical underwriting and financing decisions.
Subscribe Free →Measure ULA and the November 3 Ballot: What Developers Should Know
The ULA rewrite is not on the November 3 ballot. What Prop 43 and Prop TE do, today's $5.4M and $10.9M lines, and the sale vs refi math on a 2028 exit.
Read briefing →Prop 1's $11.25 Billion Housing Bond: How an LA Developer Would Use It
Where Prop 1's $11.25B housing bond money goes, how it fits a 4% tax credit stack, when HCD funds could flow, and what LA developers should line up now.
Read briefing →ADUs and Small Lots on January 1, 2027: File Now or Wait?
AB 956, SB 1117 and SB 1116 take effect January 1, 2027. What changes for LA ADUs, JADUs, impact fees and starter home lot splits, and whether to file now.
Read briefing →The Altadena freeze: what SB 1090 stops and where starter homes still work
SB 1090 freezes new SB 684 and SB 1123 starter home filings in Altadena ZIPs 91001 and 91003 until 2030. Who is grandfathered, and why January 1 matters.
Read briefing →What a Hollywood Lot Is Really Worth
The 100% affordable stack, a vacant lot by the Hollywood/Highland station, and what the dirt is really worth.
Read issue →The quiet upzone nobody marketed: 16 units on an ordinary R2 lot, and it has been live since June 30.
Since June 30 an LA ordinance has let an ordinary R2 lot near a rail station carry up to 16 units with no parking, no hearing, no bonus paperwork.
Read issue →Eleven housing bills sit with the Governor. On September 30, silence is a signature.
Eleven housing bills sit with the Governor until September 30, and under Article IV, Section 10(b)(2) silence is a signature.
Read issue →Downtown LA's ceiling just moved to 450 feet. The state did it, not the city.
The session ended August 31 and the housing package is on the Governor's desk.
Read issue →Your empty office is a housing asset. The law just caught up.
LA's new adaptive-reuse rule (AB 507 + the Citywide Adaptive Reuse Ordinance) lets 15-plus-year-old office buildings convert to housing ministerially. Developers are already acting.
Read issue →The ballot is the capital event
California's November 3 ballot is fully set at 14 propositions. Three of them are competing for the same capital: a $11.25B housing bond, a $25B homebuyer program, and an $8.4B research bond.
Read issue →The final sprint is about whether housing can get financed
The 2025-26 California legislative session adjourns August 31. The final sprint is not about zoning anymore. It is about whether housing can get financed.
Read issue →One house. Eight new homes. Nine parcels.
A Van Nuys site went from a three-lot approval to a nine-parcel filing. The capital edge is in the remainder parcel, map clock, and release structure.
Read issue →Measure ULA Is Durable: Underwrite the Cliff, Not the Repeal
Measure ULA remains durable. Model Los Angeles's $5.4M and $10.9M full-consideration tax cliffs in sale proceeds, residual value, and loan sizing.
Read issue →SB 79 Day One: Underwrite the Ordinance, Not the Statute
Los Angeles delayed full SB 79 implementation and activated local low-rise rules. Map the parcel in ZIMAS before underwriting density or land value.
Read issue →SB 35: The 10-Unit Line That Changes the Math
How SB 35's 10-unit threshold changes prevailing-wage, affordability, construction-debt, and permanent-takeout math for small Los Angeles multifamily additions.
Read issue →The Legislative Edge | Issue No. 2 | SB 79
SB 79 goes live July 1. Here is how a developer underwrites a transit oriented site before they wire earnest money.
Read issue →Our Legislative Edge: Issue 1
SB 1123 just unlocked up to 10 starter homes on vacant single family lots. Here is how to underwrite the play.
Read issue →