Real Estate
On September 6, 2021 California Governor Gavin Newsom signed Senate Bills (SB) 8 (Skinner), SB 9 (Atkins), and SB 10 (Wiener), which went into effect January 1, 2022. The intention of the bills is to relieve the current housing crisis in California. Like any legislation, the details can sometimes overwhelm. At the signing of the bills, much publicity was given specifically to SB-9 as the end of “single-family zoning.” However, the specifics are much more nuanced.
Kinoko Real Estate, in partnership with Mosaik Real Estate, hosted California State Senator Scott Wiener, who joined both brokerages to help understand the new legislation on the afternoon of March 3rd, 2021. The original language of SB-8, SB-9, and SB-10, are linked respectively.
In short, SB-8 strengthens the already existing legislation for housing development projects. SB-9 abolishes neighborhoods’ ability to zone as exclusively single-family homes, and SB-10 allows local governments to rezone neighborhoods for increased housing density if said governments agree to do so.
Senator Wiener took some time to explain the legislation and answer questions from Kinoko and Mosiak Realtors. Here are some of the key takeaways:
SB9:
SB10:
Whether or not you have an immediate need to use SB-9 for your property, knowing about the changing landscape in California Real Estate helps you understand your current home and areas you may consider in the future.
Kinoko and Mosiak were both very thankful for Senator Wiener’s time and knowledge.
So if you have any questions about SB-9 or SB-10, we are happy to share our knowledge with you. In addition, we can also connect you with the best in the business with our exclusive list of vendors and business partners. Reach out and connect with us today!
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