Senate Bill 6 and Its Potential Impact on the Real Estate Industry

Posted on October 25, 2022

Exterior evening image of Mariposa building

Los Angeles Business Journal recently worked on a piece regarding passage of Senate Bill 6 and its potential impact on the industry. The article included commentary from Andre Soroudi, Executive Vice President of Acquisitions/Development of CGI+. The bill, signed into law in late September, allows residential construction on commercially zoned properties without the lengthy and at times costly requirement of a rezoning. Regarding the new Bill, Andre says, “It’s a very intensive process to get those types of projects done…so, in that sense, (SB 6) obviously provides a streamlined and definite path to getting a project approved.”

Read more via the article below.

More CGI+ News & Press

The Journal November 2022

The Journal November 2022

Commercial real estate developments have been in a steady upswing in 2022, however, several things stand to threaten the industry’s acceleration. We brought our best minds together to form a think tank to discuss how current events like the FED rate hike, supply/demand issues, the War on Ukraine will affect market conditions in Q4 and beyond. Click below to download the CGI+ Journal.

read more