Meet the Newest Odd Couple:

Housing Element and Economic Development (HEED™)

The housing revolution continues in California. Starting July 1, 2023 groundbreaking new state laws will accelerate the approval process for residential development on commercially-zoned land along bustling commercial corridors (AB 2011 and SB 6). Meanwhile, California’s Department of Housing and Community Development continues to take a close look at housing elements to ensure compliance with state housing laws.

RHNA Compliance, Private Investment, and Economic Development = a new value add $equation$

Your community’s housing and economic development priorities don’t need to be an “odd couple": they can work together to strengthen local economies.

State statutes are driving density which can increase development and residual land values. Be proactive and capture the value of private investment driven by housing element compliance and new residential development.

New housing can generate demand for commercial and retail uses, significant new tax revenues, and support local jobs. Office reconfiguration and work at home schedules are keeping consumer “wallets” in local communities -- capturing local spend is a key objective.

Consider the “HEED™” Steps below…

HEED™ - Housing Element for Economic Development

A proactive valuation and investment-based approach to

Housing Element Compliance to serve your community.

STEP 1

Housing Goals & Compliance

---------------------------------

Evaluate your housing element, publicly-owned properties (per Surplus Land Act), and private opportunity sites to advance your economic development strategy.

STEP 2

District Value Capture Potential

---------------------------------

Consider special districts that align with residential density and proposed private projects to capture value of development to fund infrastructure, amenities, & attract grant funding sources.

STEP 3

Shopping Center/RETAIL CORRIDOR Reimagination Potential

---------------------------------

Reimagine shopping centers and commercial centers for blended-uses. Install value-capture zoning mechanisms like Development Opportunity Reserve (DOR®).

STEP 4

HEED™

Implementation Plan

---------------------------------

The economy is changing fast. Create a HEED™ plan to achieve economic results and compliance. Evaluate data, select objectives, & economic development strategies.

Kosmont provides communities with preliminary evaluation and HEED™ implementation plans to capture value and prioritize economic development targets for your community.

THE KOSMONT TEAM

Kosmont Companies is an economic development, real estate, and public finance advisor. We have been assisting the public and private sectors for decades in bringing plans and projects to fruition. Kosmont Companies is proud to be in the Los Angeles Business Journal 2021-22 Book of Lists as one of the Top 100 Minority-Owned Businesses.

Larry J. Kosmont, CRE^®

Chairman & CEO

(213) 507-9000

Email Larry

Ken K. Hira

President

(949) 226-0288

Email Ken

Joseph Dieguez

Senior Vice President

(347) 731-5307

Email Joe

Share this on Twitter