Sharon Tan

News

Affordable Housing Development Proposed at 4600 E. Olympic Blvd in East Los Angeles

A new affordable housing project is set to rise at 4600 E. Olympic Boulevard in unincorporated East Los Angeles, bringing much-needed low- and moderate-income housing to the area. The proposal, recently reviewed by the Los Angeles County Regional Planning Commission, aims to address the ongoing housing crisis by offering 69 affordable units. Project Overview and Design The development is spearheaded by Magna Loyal, LLC, the property owner, with architectural plans crafted by Metropolis Architecture. Known for their involvement in Executive Directive 1 affordable housing projects across Los Angeles, Metropolis Architecture has envisioned a five-story contemporary building for this site. Unlike

October 23, 2024 No Comments

News

The Future of Los Angeles: Building a Car-Free City

Los Angeles is at a crossroads, with two visions for its future competing for attention. On one hand, we have electric, autonomous vehicles like the Waymo Jaguar I-PACE, which promises a cleaner, quieter city. However, the technology is still in its infancy, with challenges like stalled navigation at crosswalks. The potential benefits—like working, eating, or sleeping while in traffic—are promising, but the limitations are evident. On the other hand, Los Angeles hosts CicLAvia, a recurring event where the city transforms into a vibrant, car-free zone. On event days, roads become walkways, bike paths, and gathering spots, bringing the community together

October 23, 2024 No Comments

Hong Kong News

China’s Home Sales Rebound as Beijing’s Support Boosts Market Confidence

China’s property market is showing signs of recovery as new data reveals a surge in home sales across the mainland. Following the introduction of supportive measures by Beijing in late September, confidence among homebuyers appears to be reviving, leading to increased transactions in both new and secondary home markets. Surge in Transactions Across Major Cities According to the Lingping Real Estate Data Research Institute, new home transactions across 15 key cities jumped by 24% last week, with sales reaching 24,287 units. Similarly, secondary home sales surged by 20%, totaling 20,724 units across 10 major cities. These figures highlight a significant

October 23, 2024 No Comments

Hong Kong News

China’s Real Estate Market: Signs of Stabilization and Growth

In recent months, China’s real estate market has shown promising signs of recovery after facing significant challenges earlier this year. Back in April, the sector struggled with low transaction volumes and record-high unsold inventory, with 746 million square meters of ordinary commodity housing remaining unsold—surpassing a decade-old peak. Additionally, second-hand home prices in major cities like Beijing, Shanghai, Guangzhou, and Shenzhen reverted to 2016 levels, reflecting a drop in buyer confidence. Policy Interventions Drive Recovery In response, the Chinese government introduced a series of strategic measures to stabilize the real estate market. Starting on May 17, the People’s Bank of

October 21, 2024 No Comments

Hong Kong News

Shanghai’s Pre-Owned Home Sales Surge Amid Government Support

Shanghai’s pre-owned home sales have surged, surpassing 1,000 units in a single day for the first time in four months. On October 15, 1,334 second-hand properties were sold, marking a significant rebound in the market. This recovery is largely attributed to the supportive real estate policies introduced by the Chinese central government in late September. The revival follows key measures announced by Pan Gongsheng, governor of China’s central bank, on September 24. These policies include a 50-basis-point reduction in mortgage rates, bringing them closer to new loan levels, and lowering the minimum down payment for second homes from 25% to

October 16, 2024 No Comments

News

Metro Seeks Community Input on Affordable Housing Near 17th Street Station

Metro is moving forward with its ambitious 10,000 Home Commitment, focusing on creating affordable housing on underutilized Metro-owned land. One of the first major projects is planned near the 17th Street/Santa Monica College station, where Metro aims to develop income-restricted housing. To ensure the development aligns with the needs of the local community, Metro is actively seeking feedback from residents. Residents have two main ways to provide their input. Metro has launched an online survey and will also hold a virtual meeting on October 23, allowing community members to share their thoughts on the project’s design, the types of services

October 15, 2024 No Comments

News

Kengo Kuma’s Yama-Tani: A Human-Scaled Masterpiece in Paris

Kengo Kuma & Associates have introduced an architectural gem in the northeast of Paris with the Yama-Tani residential building. Unlike the towering structures surrounding it, Yama-Tani blends seamlessly with its low-rise neighborhood, offering a refreshing departure from the city’s typical high-rises. Designed to evoke a village-like atmosphere within an urban setting, this development emphasizes both human scale and a deep connection with nature. A Village in the City The Yama-Tani project stands as a testament to the firm’s commitment to designing with nature in mind. The name “Yama-Tani” translates to “mountain-valley,” reflecting the building’s organic, flowing form. Its stepped structure,

October 14, 2024 No Comments

property News

Sudbury’s $1.7M Grant Hinges on Old Hospital Demolition

Sudbury’s downtown revitalization could soon get a boost as Panoramic Properties seeks a $1.7 million municipal grant to renovate the Scotia Tower into residential units. However, Mayor Paul Lefebvre has placed a condition on the grant: the old, long-vacant hospital building on Paris Street, also owned by Panoramic Properties, must be demolished. The Scotia Tower project, set to add 83 residential units downtown, is part of a larger housing initiative that aligns with the city’s Housing Supply Strategy and Downtown Master Plan. Despite the potential benefits, public sentiment in Sudbury has long been frustrated by the neglected state of the

October 11, 2024 No Comments

property News

Vancouver Condo Market Dominated by Investors Favoring Smaller Units

The Vancouver condo market is being heavily influenced by investors who prefer smaller units, according to recent data from Statistics Canada’s Canadian Housing Statistics Program (CHSP). This trend reflects a growing investor preference for maximizing returns through higher rent per square foot, which tends to be more lucrative for compact living spaces. In Vancouver, where property prices continue to soar, around one-third of all condos are investment properties. These units, particularly those under 600 square feet, offer investors a greater rental yield compared to larger units. A key reason for this is the higher rent per square foot associated with

October 10, 2024 No Comments

News

Proposition 33: The Heated Debate Over California’s Rent Control Measure

California’s Proposition 33 has sparked a fierce debate as it heads to the November 2024 ballot. This controversial measure, which could transform the state’s rental market, has supporters and opponents clashing over its potential impacts on housing affordability and the broader economy. With both sides launching aggressive campaigns, the conversation around Prop 33 is becoming increasingly heated, dominating airwaves and online platforms. What is Proposition 33? Proposition 33 aims to address California’s ongoing housing affordability crisis by repealing the Costa-Hawkins Rental Housing Act of 1995. Currently, Costa-Hawkins allows rent control only on housing units built before 1995. It also permits

October 9, 2024 No Comments