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SB 79 - Who wants a 5 to 7 story apartment building next door to your house? Answer: NO ONE! But that is the very real impending threat if California Senate Bill 79 wins approval in the California Assembly. How ruinous would that be to San Fernando VALLEY neighborhoods? Just look what happened to neighborhoods around USC and the Coliseum. Numerous multi-story apartment buildings creating parking and traffic nightmares... and with no recourse for the poor homeowners whose property values will continue to tank.
What do you think it will do to YOUR property value when a 5 to 7 story apartment building pops up next door, seemingly overnight? No, so you think it can't happen to you. Well, guess what? When your next-door neighbor is offered 50% more than market value for his/her single-family dwelling, what do you think they will do? That's right. They will take the money and run leaving you and your neighbors "holding the bag". Oh, and before construction even starts, as soon as the word gets out (in a flash), you think your home will sell for even half the going rate? No way, not even the same contractor needs to pay more than the depreciated value to build more 5 to 7 story monstrosities in your neighborhood.
So, this doesn't make any sense. How can it be happening? Well, if you are a half mile from a bus transit stop, then lucky you actually will qualify for a next-door apartment monstrosity. And it WILL HAPPEN if your California State Senate and Assembly members vote SB 79 into law. We know that Katie Porter, who is running for Governor, supports it along with State Senator Wiener, the bill's author. State Senator Suzette Marinez Valladares also is favoring its passage, but we will have to wait and see which Assembly members actually are willing to infuriate the majority of their constituents by voting for it.
So, if this bill is so horrible for homeowners, why does it have so much support? Well, in case you missed it, there is a real affordable housing shortage all over California. So, here's a get rich quick scheme for developers
who appear to be solving the problem. While every new apartment building will house a small number of fortunate people, it unfortunately wouldn't put a dent in our homelessness problem. Instead, they are creating an unbelievable problem for those neighborhoods directly affected (and also the surrounding ones) that will suffer parking and over-crowding issues instantaneously.
Fortunately, CD 12 Councilmember John Lee has taken the lead on opposing SB 79. On August 20, he reported "Yesterday, the Los Angeles City Council passed the resolution I introduced to formally oppose this bill. But the power still rests with State Legislators, and they need to hear from YOU." So, while we appreciate the City Council support, please understand that it's ONLY the Senate and Assembly that have the power here.
Elections have consequences, so you may want to take note of who voted for and against this measure.
Also, those without an actual vote may be staking their political futures on their own public pronouncements on this issue. For example, it's going to be a tough call if you like Katie Porter but can't stomach her support of SB 79. And she probably won't be the only one to have you head scratching. But then again, if politicians can't oppose this obvious horror show for homeowners, are they going to understand our future needs ...or harm us irrevocably?
(Ken Ross is a regular contributor to CityWatchLA.com.)
