Somos Group

Somos Group (SOMOS) principal Kira Teshima Conlon spoke at the LA84 Foundation as part of the TOMODACHI Initiative – U.S. Embassy Go for Gold Sports Leadership Program. Through a partnership between the U.S.-Japan Council and the U.S. Embassy in Tokyo Japan, the initiative brings together young Japanese and American leaders through sports, education, and cultural exchange. As Los Angeles prepares to take the world stage with the 2026 FIFA World Cup and the 2028 Summer Olympics, the power of sports to unite communities has never been more important. Kira spoke about the resilience and spirit that bind our communities—whether in recovery from natural disasters or in pursuit of athletic excellence. “Since that 2011 humanitarian response in the Tohoku region,?the Initiative?has become a leading?program?for connecting next generation Japanese and American leaders through educational and cultural exchange,” said Conlon. “As Angelenos face our own recovery process in the aftermath of the Eaton and Pacific Palisades Wildfires, the founding spirit of the TOMODACHI Initiative and the 10 exceptional delegates is especially meaningful.” ? A huge congratulations to the 10 TOMODACHI delegates and a special thanks to WLS, LA84, and the U.S. Embassy in Tokyo for supporting this impactful program! SOMOS understands that leadership and resilience extend far beyond any single field—in policy, planning, or the world of sports. ? #TOMODACHI #USJapanRelations #SomosGroup #SOMOS #GoForGold #LA84 #LeadershipThroughSports?

160 housing bills have been introduced this legislative session?that?focus?on rebuilding and accelerating production and funding?for?affordable housing.?The Terner Center for Housing Innovation, UC Berkeley provides invaluable research and data that helps our team at Somos Group track this legislation?to provide?timely?technical assistance?for our clients.?As a former?Terner Center Fellow, I?highly recommend?their 2025 California Legislative Preview, which?highlights key themes and legislative proposals to watch–policies that will shape how we tackle affordability, production, and equity in?2025 and beyond. https://lnkd.in/gMz6myzu ?

Somos has been advising cityLAB UCLA on designing the?"Small Lots, Big Impact"?initiative in partnership with the City of Los Angeles. The ambitious two-stage initiative seeks to encourage creative ingenuity to address the housing crisis, recently exacerbated by the fires, specifically in the development of missing middle housing on small, underutilized City-owned parcels. The initiative is aimed at demonstrating a model for adding gentle density and create more opportunities for affordable homeownership. The initiative kicked off with a cityLAB-run design competition for architects and designers, with a special emphasis on affordability and creative design solutions to building on small lots. It will be followed by a City-run development RFQ to award City-owned parcels for innovative prototypes of the same. Read more about this initiative in the LA Times:

Somos is proud to partner with The TransLatin@ Coalition to advocate for critical funding to establish a Trans Wellness Center in Los Angeles. This Center would be a lifeline—expanding essential, life-saving services for transgender, gender expansive, and intersex (TGI) communities. Through strategic advocacy, community mobilization, and direct engagement with policymakers, we are committed to turning this vision into reality.

Congratulations Alfred Fraijo Jr.!

The path to recovery must include diverse voices. Looking forward to participating in this conversation with Jonathan Wheat, CPCU, CRIS and Matthew Trotter, AIA, NOMA, NCARB next week.

Somos Alert: The new Hollywood Community Plan Update includes comprehensive policy changes and zoning actions. New development within the Hollywood Community Plan Implementation Overlay (CPIO) District sub area must undergo additional review procedures to demonstrate compliance with the CPIO district. However, the CPIO also establishes a tiered incentive structure to encourage development supporting community needs. For instance, if your development project is more than the maximum base FAR threshold, which ranges from 1.5:1 to 4.5:1, the CPIO Community Benefits Programs provides bonus and additional incentives. These incentives require only ministerial approval providing that the incentives comply with the CPIO. The Hollywood Community Plan Update was adopted by the City Council on January 7, 2025, and took effect on February 11, 2025. Read the full Somos Alert below:

As a former Terner Center for Housing Innovation, UC Berkeley Fellow, I appreciate this commentary they published with recommendations for how California and Los Angeles can take a coordinated and forward-thinking approach to recovery. From convening local governments to align rebuilding efforts, to leveraging pre-approved housing plans for efficiency, to prioritizing displaced renters—these steps add valuable insight to the critical conversation about recovery and are central to some of the strategies we're deploying at Somos.

Somos is bridging the gap between opportunity and need for more housing solutions by proposing creative financing and deal structures.?We are working with our clients to bring student and worker housing to market. I will be speaking about Somos’ approach at the The Student & Workforce Housing Development Conference in April. The conference will facilitate dialogue between leaders in real estate, education, and housing, who, like us, are working to advance actionable, scalable solutions that meet the growing demand. I invite you to join the conversation and register for the conference here:?https://lnkd.in/gtuGufK7 Let’s build a future where housing is a bridge to success, not a barrier.

Somos Alert: A new deadline is looming for certain affordable housing developers that received funding from the State of California.?? ? Affordable housing developers?that have received Low-Income Housing Tax?Credits (LIHTC)?are required to report annually on their efforts to hire?women, minority, disabled veteran, and LGBTQ owned business enterprises.?This annual report must be submitted to the California Tax Allocation Committee (CTCAC) by February 15, 2025.? ? The?annual reports are required by the?Affordable Housing Supplier Diversity Act (AB-2873). The requirement applies?to affordable housing developers?that?have received low-income housing tax credits?on or before January 1, 2024,?and that have either: (1)?completed?five?or more housing projects by January 1, 2023, or (2)?received an annual LIHTC allocation of $1 million or more. ? The required annual report is comprised of two components: The Diversity Plan and Procurement Data.?At Somos, our experienced attorneys have the expertise to help developers take full advantage of tax credit legislation and policy. If you have questions or need guidance, we encourage you to contact Somos for more information.?Because the deadline falls on a weekend, the Committee is likely to determine favorable compliance if reports are submitted on the next business day, Monday, February 17,?2025. ? For information on AB-2873 and where to submit your annual report, please visit the California State Treasurer's Office?website: https://lnkd.in/gcBJF6H8