Saving Existing Affordable Housing Is A No-Brainer

You don’t really need to be a rocket scientist to conclude that if a city ensures that existing affordable housing isn’t converted to market-rate housing, they will keep people off the streets.

Sadly, cities are working hard to invest in and develop affordable housing, only to find older affordable housing buildings converted into market-rate housing. It becomes a zero sum game of building affordable housing.

The Los Angeles City Council has smartly decided to pass an ordinance that prevents developers from converting old affordable housing buildings into expensive lofts or market-rate units.

LAist.com says that nearly 18,700 affordable housing units are affected by this ordinance.