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California may have found an effective model to build affordable housing more quickly. The law applies to all regions of California that haven't met their housing construction targets, which is almost everywhere in the housing-scarce state. Between 2018 and 2021, 156 projects with more than 18,000 units have been approved or are under review under SB 35. SB 35 projects are also exempt from review under the California Environmental Quality Act, further speeding up the approval process. "It'll be catastrophic if it's not extended," Ramie Dare, director of real estate at the non-profit affordable housing developer Mercy Housing California, told the researchers.
Persons: , Bill, haven't, it's, Caleb Roope, Scott Wiener Organizations: UC Berkeley, Service, Terner Center, Housing Innovation, Bay Area, Pacific Companies, Mercy Housing Locations: California, Wall, Silicon, Bay, Los Angeles County, Mercy Housing California
Deals are set to revive slowly as companies and funds watch out for easier macroeconomic conditions, they said. "This will provide a more stable backdrop for the return of a more robust M&A market," said Maliah. Deals in private equity, a major M&A driver, amounted to $139 billion as of Dec. 15, down 52% on all of 2021. "Banks' ability to write big-size checks is still much challenged," said Samson Lo, UBS's co-head of Asia-Pacific M&A. An improvement in Asian equity capital market volumes from three-year lows will also help M&A deals, dealmakers said.
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