Much to the chagrin of many in the real estate industry, the Redondo Beach City Council voted on Tuesday night to extend a 45-day development moratorium to become a nearly a one-year ban.
The unanimous vote extends the ban on mixed-use projects for another 10 months in the wealthy coastal city, the Los Angeles Times reported. It won’t affect developments in residential zones or previously approved projects such as the South Bay Galleria.
Proponents of the ban said it will help the city figure out new rules for mixed-use zones and ease traffic in the city. However, the argument lies largely in wanting to preserve the character of the neighborhood and avoid denser development.
The ban will inflate rents for years to come and potentially scare off investors, opponents say.
The moratorium comes with support from newly elected Mayor Bill Brand, who has raised concerns about mixed-use development for some time. He claims new housing developments don’t generate enough tax revenue to pay for city services.
“Redondo does not have a housing shortage, and the crisis we do have really is a traffic crisis and an on- and off-again water crisis,” Brand said at a City Council meeting on Aug. 15. “And if we continue with a lot of this addition of residential soon we will have school overcrowding.”
Economists argue the lack of building on coastal cities has driven rents up in surrounding areas, contributing to the affordable housing shortage Angelenos are experiencing now.
Redondo’s move to ban development contrasts sharply with the affordable housing bill package that passed in the Assembly on Sept. 14 and is slated to become law soon. [LAT] – Natalie Hoberman