MAREA.ai is proud to continue its data collaboration with University of Southern California. Here we have an update on all units to date for the combined Density Bonus (DB), Transit Oriented Community (TOC) and Executive Directive 1 (ED1) programs.
MAREA.ai
房地产
Unleashing transparency to an notoriously opaque industry, revealing the inherently cyclical nature of real estate.
关于我们
Founded in 2020 with the goal of INCREASING EQUITY THROUGH TRANSPARENCY, MAREA.ai is the real estate industry leader in data collection and analytics for use in solving the national housing crisis. Over recent decades, a lack of transparency on what is playing out on the ground coupled with ramifications of an industry that is extremely cyclical have led to significant loss of financial equity as well as unnecessary impacts to the community. Most concerning, the result has been an under delivery of critically needed housing units. MAREA.ai provides the objective digital foundation on which civic and industry leaders can craft go-forward solutions to this vexing challenge. Currently MAREA.ai is coordinating with leading academics at USC for a series of forthcoming white papers. Stay tuned...
- 所属行业
- 房地产
- 规模
- 2-10 人
- 总部
- United States
- 类型
- 私人持股
- 创立
- 2020
地点
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主要
获取路线
US，United States
动态
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MAREA.ai and the University of Southern California expanded dataset analysis (1997-2024) to include single-family residences (SFR) and duplexes, alongside new multifamily construction.
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MAREA.ai is proud to continue its data collaboration with University of Southern California. In this series, we're analyzing housing development trends in Los Angeles, spanning from 1996 to mid-2024.
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Following-up on previous analysis of TOC and ED1 projects, MAREA.ai and University of Southern California have applied the same approach?to Density Bonus projects. The sample size for this data spans from 2009 - 2024. Moving forward, regular updates to this analysis will be provided for TOC, ED1 and Density?Bonus projects. Follow MAREA.ai to be notified as new data becomes available each month,
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Following-up on previous analysis of TOC projects, MAREA.ai and University of Southern California have applied the same approach?to ED1 projects.? Similar to TOC, there has been an extremely strong response from the private market to pursue entitlements?for these projects, however, the portion of approved projects that are actually moving into construction?is very low.? Moving forward, regular updates to this analysis will be provided for TOC, ED1 and Density?Bonus projects.
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The mountain of approvals speaks to the City of LA's monumental efforts to provide entitlement certainty.?What is needed to increase the molehill of completions??Presumably?entitlements have not been the only obstacle holding back housing?production.
Since launching over 5 years ago, there has been strong?enthusiasm from the real estate industry?for the TOC program.???The City of LA has addressed this market demand by rapidly approving over?33,000 units, turning around most applications in under a year.??As this graph shows units approved are not translating into units built at that rate one would hope given the housing crisis that exists.?Recent run ups in interest rates is certainly one potential cause, however many of these units were approved when interest rates were at historic lows.?In an era where effectively by-right entitlements?are possible, it seems critical to start focusing on reasons unit deliveries are being curtailed other than entitlement approvals.?
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Since launching over 5 years ago, there has been strong?enthusiasm from the real estate industry?for the TOC program.???The City of LA has addressed this market demand by rapidly approving over?33,000 units, turning around most applications in under a year.??As this graph shows units approved are not translating into units built at that rate one would hope given the housing crisis that exists.?Recent run ups in interest rates is certainly one potential cause, however many of these units were approved when interest rates were at historic lows.?In an era where effectively by-right entitlements?are possible, it seems critical to start focusing on reasons unit deliveries are being curtailed other than entitlement approvals.?
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Urban Development Alert!?? #UrbanPlanning #HousingCrisis The City of LA's TOC program has streamlined hundreds of residential projects, setting a precedent with its near by-right entitlement process. However, while thousands of units have been delivered, many thousands appear stalled - upwards of 70% of total approvals. Building on TOC’s momentum, the new ED1 program promises even faster approvals. Interestingly, some stalled TOC projects are now transitioning to ED1. With the pace accelerating, how will ED1’s delivery success rate compare to TOC's? MAREA.ai and USC are analyzing the data to answer this crucial question. Stay tuned as we dive further into this data set. #RealEstate #BigData #MAREAai #USC
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