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Inglewood has become a new favored multifamily investment market in Los Angeles. The Hollywood Park project, which includes a Rams football stadium, has attracted investors for the last two years, but a new rent stabilization measure in Inglewood could dampen multifamily investment activity along with new multifamily development. The rent stabilization measure is only temporary, and caps rental increases at 5%. However, it will likely lead to a more permanent solution.

Long waits for permitting approvals, restrictive zoning, parking space requirements, impact fees, all of these barriers to construction increase costs to develop new apartments,” Greg Brown, SVP of government affairs for the National Apartment Association, tells GlobeSt.com. “The implementation of rent control further discourages investment in housing across most of the income spectrum.”

Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

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