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Loeb & Loeb LLP is noted and Paul Rohrer is quoted in an article which discusses market conditions being more favorable to building downtown Los Angeles high-rise buildings. Prior to the housing collapse, developers in L.A. were keen on erecting high-rises and buying the necessary building rights from the city to do so, buoyed by a certain degree of confidence in their ability to secure tenants who could pay the rental prices such towers demand. Then the recession hit, high-rise projects halted, and in Los Angeles, costly transfer of floor area ratio - known as TFAR - stopped entirely. Now, as the real estate market recovers, the city has three so-called TFAR applications in process, the same number it approved over the past three years.
This article was originally published in the October 15, 2013 edition of the Daily Journal. Permission for article reprint has been granted.
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Deputy Chair, Real Estate