Why Is Los Angeles Spending $20M on 32 Empty Housing Units?
Los Angeles emptied a building that was already housing people. Four years and $625,000 per unit later, it still houses nobody.
Los Angeles is facing fresh scrutiny over a $20 million homeless housing project that sat empty for four years after the city shut down a functioning building to convert it — spending $625,000 per unit to house nobody. The debacle is feeding a broader debate over LA's housing politics, with mayoral candidate Nithya Raman pushing a platform critics say is mathematically impossible: promising both rent freezes and new construction, a combination developers say kills the financial case for building anything.
Los Angeles emptied a building that was already housing people. Four years and $625,000 per unit later, it still houses nobody.
NYC and LA progressives promise rent freezes plus new construction. Every city that's tried gets ghost apartments instead.