California voters have defeated a ballot question that would have allowed local jurisdictions to expand rent control or create new rent control laws on most housing types.
The measure, Proposition 21, had support of roughly 40% of voters. It was the second time in consecutive election cycles that voters shot down a statewide rent control referendum. Real estate developers and Gov. Gavin Newsom opposed the measure.
Another question impacting commercial real estate, Proposition 15, was losing as of Nov. 5, but the outcome was considered too close to call. This measure would amend the state constitution to allow commercial and industrial properties to be taxed at market value rather than the purchase price.
In San Francisco, Proposition H, a measure to streamline the permitting processes for new businesses and allow existing restaurants/retailers to change business models and storefronts was approved. Proposition I, a question to increase the transfer tax on property sales valued at $10 million or more with funds to go toward affordable housing, appears to have passed.
Related Stories
Codes and Standards | Dec 16, 2021
Property owners need systematic approach to GHG emissions reduction
Energy hog buildings at risk for becoming stranded assets.
Codes and Standards | Dec 15, 2021
Design problems now the primary cause of construction claims and disputes
More likely to occur due to more tight timescales imposed upon third parties engaged in design.
Codes and Standards | Dec 13, 2021
ABC releases guide to technology for improving safety performance
Provides details on how to identify, choose, and implement technology.
Codes and Standards | Dec 8, 2021
Construction industry is the top target for cyberattacks
Smart building tech is a new avenue for criminals.
Codes and Standards | Dec 8, 2021
Proposals to add more multifamily to Atlanta prompt drive for Buckhead to secede
City aims to increase housing as projections point to sharp population increase.
Codes and Standards | Dec 7, 2021
Design problems now the primary cause of construction claims and disputes
More likely to occur due to more tight timescales imposed upon third parties engaged in design.
Codes and Standards | Dec 5, 2021
New standard for Phase I environmental reports requires more research work on many sites
Update affects around 250,000 commercial real estate transactions a year.
Codes and Standards | Nov 30, 2021
Dept. of Energy publishes RFP for technical assistance on supporting better building codes
Addresses advanced standards to reduce energy consumption and GHG emissions.
Codes and Standards | Nov 29, 2021
Ithaca, N.Y., votes to electrify, decarbonize all its buildings
First initiative of its kind in U.S.
Codes and Standards | Nov 29, 2021
FAA seeking design of air traffic control towers of the future
Call for design submissions for safe, efficient structures.
