The Venice Dell affordable housing project is back in the spotlight, with questions being raised about whether taxpayers are getting enough housing for the investment.
The bigger issue may be cost efficiency.
As Oron Maher explains, Los Angeles has an enormous housing shortage, particularly in high-value neighborhoods where land is expensive. If public funding is being used to create affordable housing, the goal should be maximizing the number of units created with every public dollar.
This isn’t simply a question of whether Venice needs more affordable housing—it does. The question is whether there are more efficient ways to create that housing while making the most of limited public resources.
Would you support a project costing more than $1 million per unit, or should Los Angeles pursue a more cost-efficient approach?
Let us know what you think in the comments.
#AffordableHousing #LosAngelesRealEstate #MultifamilyRealEstate
