On September 2, Bill Sloan was interviewed by Bisnow for “Developers Making Headway After CEQA Reform, But Economics Stand In Their Way.” The following is an excerpt:
Long-awaited changes to the California Environmental Quality Act have resulted in some progress for developments under review. But two months after the rule changes, developers in Southern California say there are still plenty of hurdles to project completion.
Macroeconomics and persistent market uncertainty, combined with the severity of the state’s housing crisis, remain roadblocks for development even after crucial exemptions to CEQA were signed into law.
“I think the big obstacle right now is, even if you have a project that would qualify under the legislation, do the economics still make sense right now?” land use attorney and partner at Venable LLP Bill Sloan said.
Developers are calculating how economics factor into new projects as they consider how to take advantage of the new rules, Sloan said.
For the full article, click here.