May 30, 2024

Legislative Update: Two Adaptive Reuse Bills Advance

Last Friday marked the deadline for bills to pass in the house they originated in. Two bills focused on the adaptive reuse of commercial real estate or office to housing conversion passed the Assembly overwhelmingly and now head to the Senate. Our industry has prioritized working with the Legislature on adaptive reuse to enable property owners to pursue this option when it makes sense.


AB 3068 (Haney; D-San Francisco) aims to promote the conversion of existing nonresidential buildings into residential or mixed-use spaces by allowing cities and counties to offer financial incentives for adaptive reuse projects and streamlining the approval process for converting. The bill passed the Assembly floor on a vote of 58-5 and now heads to the Senate.

AB 2910 (Santiago; D-Los Angeles) aims to leverage underutilized commercial buildings for residential use to facilitate the conversion of commercial or industrial buildings into residential units. The bill allows pro-housing jurisdictions with compliant housing elements to adopt alternative building regulations. AB 2910 passed the Assembly floor on a vote of 72-0 and now heads to the Senate. We will keep you informed on the status of these bills as they progress through the legislative process.

Board Member Spotlight: Sarahann Shapiro

This month we're putting the spotlight on BOMA California President Sarahann Shapiro of Spencer Fane LLP. Sarahann is a longtime member of BOMA Silicon Valley and BOMA California, playing an active role in government affairs efforts for our industry for years.


Learn more about Sarahann, her work in commercial real estate, and some fascinating fun facts in this month's board member spotlight!


SPOTLIGHT

Call to Action: Industry Sponsored AB 2433

Industry sponsored assembly bill 2433 (Quirk-Silva) improves the building permit process and expedites important projects in your community. The bill builds on current law to provide flexible fee structures, expedited inspection timelines, and conditional employment of external professional services.

 

We need your outreach to members of the Senate Local Government Committee urging them to support AB 2433. Click here to view committee contact information and a sample message to send. Thank you for your continued support of our industry!

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CCRES Registration Now Open!

The California Commercial Real Estate Summit, our industry's annual advocacy event in Sacramento returns August 13th-14th. This is your chance to meet with your state representatives to advocate for our industry while connecting with your fellow leaders in commercial real estate. You won't want to miss our new welcome reception location at the iconic California Museum!

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Industry Awards Dinner - Back And Better Than Before!

Join us at the Segerstrom Center for the Arts, the dazzling new location for the Industry Awards Dinner! You'll be taken on a guided tour prior to the start of the event and will catch up with peers over bites and beverages. 


Next, you'll be treated to our refreshed event program as we honor deserving individuals and organizations - including some exciting new award categories. Save the date for November 7th!

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