Uncle_Erik comments on I'm an architect in LA specializing in multifamily residential. I'd like to do my best to explain a little understood reason why all new large development in LA seems to be luxury development.: "The broader effect of the Shriver project is that because the costs of evictions are now so high (and financially catastrophic, especially to mom-and-pop landlords), these landlords, owners of rent-controlled buildings, are selling out to deep-pocketed investors who have been Ellis-evicting entire buildings to get their properties out of rent control. It's funny how Curbed L.A. and all these other local real estate blogs have never really addressed the high cost of evictions as a factor in why affordable housing has worsened significantly, but from my experience in managing apartment buildings, this is a huge factor why the numbers of rent-controlled buildings have steadily dwindled.
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