In summary bill AB 2097 provides that residential and commercial properties within 1/2 miles of a major transit station will not be required to have on-site parking as long as a few conditions are met. This will be enacted on Jan 1, 2023 and will dramatically change development!
Read more about how this will change your ADU development below…
Large Shifts For Apartment Owners In Long Beach
Long beach is in desperate need of low-income housing and this pressure has recently produced a new bill that will greatly impact apartment owners. The bill (AB 2097) will allow property owners within a ½ mile radius of public transportation to build additional ADU units without many of the regulations that they previously faced. These property owners will now be able to develop their parking spots into additional housing as needed to match the housing crisis as of Jan 1st, 2023.
This bill comes with some more complex elements so we will break it all down here and strip away any confusion. Continue reading to see all of the details from this new bill.
What Is The Bill?
This bill that was passed is named AB 2097 and was recently approved by the governor on September 22nd, 2022. AB 2097 would “prohibit a public agency from imposing any minimum automobile parking requirement on any residential, commercial, or another development project, as defined, that is located within 1/2 mile of public transit”
Viewing this map below we can see just how many buildings will be affected by this change. Including everything from LB Blvd to First street.
This would affect many property owners in long beach and open many more opportunities for Accessory Dwelling Units as well. However, there are a couple of more requirements that AB 2097 details:
This bill states that it would require one of the following conditions to be utilized:
- (1) The property dedicates a minimum of 20% of the total number of housing units to very low, low-, or moderate-income households, students, the elderly, or persons with disabilities
- (2) contains fewer than 20 housing units
- (3) is subject to parking reductions based on any other applicable law.
Luckily these requirements are quite broad and will apply to many property owners in the area.
Breaking It Down Further
Let’s look at this bill a little closer and assess its nuance starting with the first requirement. A building must dedicate a minimum of 20% of its housing units to low – moderate-income residents. This part of the bill is reserved for buildings that have used a fifth of their units to house lower-income occupants that might have other special circumstances involved. In long beach low income is measured at 80% percent of the local Median Family Income or $66,750 and lower for a single person. To see more about the income limits please view this link.
The next point to look at is the 20-unit maximum. This would apply to any apartment owner with less than 20 units and encompasses a large amount of long beach land owners. These smaller apartment owners could now start looking into some additional housing units to build in place of their current residential parking so long as they are located within a ½ mile of public transit.
Lastly, the third point pertains to parking reductions based on other applicable laws. This point is more of a catch-all to account for other laws that might pertain to your specific building and requirements. To get more clarity on what other parking reductions might be applied to your building we recommend consulting the city of long beach.
What does it mean for long beach property Owners?
This bill is great news for any property owners who are looking to expand their rentable space and increase their profitability and property value. This new bill greatly expands the scope of apartment owners who match the requirements to build Accessory Dwelling Units. This particular type of apartment has been limited for many years but now is more open than ever before.
How You Can Act Now
Now is the best time to create additional housing in your apartment buildings. This will help to add to the profitability of your apartment building and will also add to your property’s overall value. On average in Long Beach ADUs are worth three times their cost, so this investment offers an excellent return.
If you have any questions if your property qualifies for this new change don’t hesitate to contact us and we can help you find out if you will be affected by this change. We would love to work with you to get the most from your property and take advantage of this amazing change in the long beach legislation.
What This Means For Long Beach
This bill could be a massive improvement for the city of the long beach as a whole. Not only will it help to provide more affordable housing to those who need it most it will also help to cut back on emissions and the city’s reliance on personal vehicles.
As mentioned by Governor Newsom in the recent announcement “Reducing housing costs for everyday Californians and eliminating emissions from cars: That’s what we call a win-win”.
This is great news for the healthy growth of the city and its ability to be home to many residents of varying incomes and life plans. From students working to get by to elderly residents who need an affordable place to live this bill could just want long beach needed. A more accessible and livable solution that benefits everyone.
An additional benefit of this bill will be the reduction of parking structures required which are often built with concrete rather than other more carbon-friendly alternatives. This scores yet another win for the future of Long Beach.
Hopefully, AB 2097 will open the space required to make many positive changes to the city of Long Beach. We hope that this helped you understand just what effect this will have on the future of long beach. If you would like to get started on this new opportunity please contact us at [email protected] and we will be in touch shortly to make your apartment building everything that it could be.