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 9, 2020
Investors want building resiliency plans and risk mitigation practices
Owners should assess risk, insurance coverage, and ability to withstand disasters.
Codes and Standards | Dec 4, 2020
OSHA cites more than 200 employers for COVID-19 violations
Agency releases guidance on lessons learned from pandemic inspections.
Codes and Standards | Dec 1, 2020
Pandemic spurs nearly 16 million people to move from major cities
Most of the movement seems permanent.
Codes and Standards | Nov 30, 2020
USGBC ready to catalyze LEED Positive future
New programs, updates will spur shift to regenerative strategies.
Codes and Standards | Nov 30, 2020
Updated spec for self-adhering flashing surrounding exterior fenestration products released
FGIA document was last updated in 2013.
Codes and Standards | Nov 30, 2020
Finalized 2021 Energy Code leaves out future-proofing provision
Appeals process nixed requirement for residential electrification readiness.
Codes and Standards | Nov 23, 2020
GBCI turns over GRESB ownership to global investment firm
Organization assesses sustainability performance of real estate and infrastructure portfolios and assets.
Codes and Standards | Nov 23, 2020
New industrywide clay brick EPD launched
Contributes toward LEED v.4.0 and v.4.1 materials and resources requirements.
Codes and Standards | Nov 19, 2020
The ‘15-minute city’ could transform municipal planning
Concept aims for car-free living.
Codes and Standards | Nov 18, 2020
Commissioning study finds median energy savings of 3% to 16%
Berkeley Lab examines results of commissioning across building types.