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Will Garcetti’s earthquake plan mean even higher rents in Los Angeles?




Angelus Plaza Apartments.
Angelus Plaza Apartments.
John Williams PHD/Flickr

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The owners of a common type of wood frame building vulnerable to collapse in an earthquake would have five years to shore up those structures under a mandatory retrofit plan unveiled by Los Angeles Mayor Eric Garcetti on Monday.

There are about 16,000 of these buildings in Los Angeles, and without money from the city to do the necessary retrofitting, it’s unclear who would pay for this. Right now, only 50 percent of the cost of major apartment rehabilitation projects can be passed on to tenants. So will the cost be largely passed on to renters? The report also recommends a voluntary rating system to determine how secure a building would be in an earthquake. Some are concerned that a voluntary rating system will result in only the most secure buildings displaying their ratings, while the ones that are structurally less fit, won’t.

Guests:

Eric Garcetti, Mayor of Los Angeles

Dr. Lucy Jones, Chief Scientist, Multi-Hazards Project, U.S. Geological Survey and Mayor Garcetti's Science Advisor for Seismic Safety

James B. Clarke, Executive Vice President, Apartment Association of Greater Los Angeles



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