Ari Kahan, principal with California Landmark, will be among the featured speakers at GlobeSt.com’s multifamily conference next month—a fitting spotlight for a developer whose philosophy and practical approach have consistently shaped the Los Angeles multifamily landscape.
From the outset, Kahan’s development process is rooted in clarity of purpose. “Who are we building for, and how does it integrate into the surrounding community?” he asks, underscoring his belief that every successful project begins with understanding its end user. The path from vision to execution, he explains, is a balancing act—one made more nimble at California Landmark by in-house construction and architecture teams that allow for uncommon oversight of both cost and design.
By controlling these levers rather than outsourcing them, Kahan has been able to pursue design ambitions that many developers struggle to realize, while still landing on layouts and floor plans dictated by market realities. “Good design doesn’t always have to be expensive,” he says. “It’s about making thoughtful choices that resonate with end users while keeping projects financially sound.”
Even as the region faces economic headwinds, the fundamental challenge is unchanged, according to Kahan. Housing affordability remains the defining issue shaping development strategies across Southern California and beyond. He notes that rents have largely outpaced incomes—even as top-of-market rent growth has flattened in recent years—creating enormous demand for attainable housing.
Amid persistent high interest rates and climbing construction costs, he sees opportunity as well as a test of stamina. At California Landmark, the commitment to “building to hold” gives the firm a rare luxury: patience at times when many others feel pressure to sell quickly. The approach, Kahan suggests, offers resilience in markets defined by both demographic change and economic volatility, as younger households delay homeownership and older residents opt to downsize.
On the issue of sustainability and technology, Kahan is pragmatic. He points to the impact of California Title 24, describing the energy efficiency and water conservation standards as “incredible” and citing their positive effect on both operating costs and tenant retention. For Kahan, the pursuit of green practices and technological solutions is always tempered by what works in reality—not simply adopting trends for their own sake. Modular building components and smart systems are on his radar, but the goal is long-term value, and every innovation is scrutinized for both profitability and operational effectiveness.
When reflecting on the hurdles of the past year, Kahan is candid about the obstacles facing developers in Los Angeles. Chief among them is the controversial ULA transfer tax, which he calls a “self-inflicted wound” on the city’s investment climate. Coupled with flat rents, rising interest rates, and escalating construction costs, the transfer tax has redlined Los Angeles for some investors. Kahan’s response has been adaptation: seeking opportunities in new geographies and strategies, including preferred equity deployment and increasing attention to affordable housing acquisitions. Despite the increased difficulty in making deals work, he emphasizes the necessity of versatility in today’s market.
His outlook for multifamily growth is focused and strategic. Kahan sees the greatest promise in workforce and affordable housing—segments he feels are underserved despite sustained nationwide demand. He highlights secondary markets with dynamic job bases and lower living costs as prime candidates for development, suggesting these locations offer more potential for sustainable expansion than supply-constrained urban cores. Kahan’s method is disciplined, keeping a sharp focus on resilient capital structures and market fundamentals. Ultimately, his goal is straightforward: to create housing that “real people can actually afford.”
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