This episode covers the Surplus Land Act and a changing regulatory landscape in California housing with Larry Kosmont and Brian Moncrief of Kosmont Realty.
The Crexi Podcast explores various aspects of the commercial real estate industry in conversation with some of the top CRE professionals in the space. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate.
In this episode, Crexi’s Yannis Papadakis and guest host Bob Drury sit down with Larry and Brian to discuss what a shifting regulatory landscape in California’s affordable housing sector means for the future of the state’s multifamily industry and how it serves as a signpost for the rest of the country. Their wide-ranging conversation includes:
- Introductions, career paths, and early lessons learned in working with local governments and CRE development.
- The history and current context of California’s housing crisis and how governments and CRE stakeholders are responding.
- The importance of being aware of state statutes, requirements, and potential penalties involved with multifamily development following recent legislation.
- The nuts and bolts of the Surplus Land Act.
- How these shifts present emerging opportunities for California developers and investors in the multifamily space.
- How California’s housing market serves as a template for potential housing crisis legislation in other states.
- Shifting dynamics in zoning requirements as governments seek to provide more affordable housing.
- And much more!
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About Larry Kosmont:
Larry J. Kosmont is the President of Kosmont Realty. He is also Chairman & CEO of Kosmont Companies, an industry leader in public/private real estate transactions and economic development, and a Principal of California Golden Fund, an approved EB-5 Regional Center.
During Mr. Kosmont’s distinguished 40-year career, he has worked with hundreds of local government agencies and private sector developers, land owners, and investors on real estate matters. His experience ranges from large-scale economic development programs to site-specific property acquisition, sale, and lease of land and developed projects, and ground lease transactions. As a broker, he has implemented transactions including undeveloped land, mixed-use, industrial, office, retail, market rate, affordable housing, TOD sites, apartment projects, hotels, and specialized uses such as golf courses, storage, and incubators.
Mr. Kosmont has served as City Manager, Director of Community Development, and Redevelopment Director in Santa Monica, Seal Beach, Bell Gardens, and Burbank. He also previously served as a contract Interim City Administrator for Montebello, CA.
About Brian Moncrief:
Mr. Brian Moncrief is a Senior Managing Director with Kosmont Realty. He brings over 15 years of experience providing consulting and brokerage/advisory services to many cities, counties, special districts, and private developer clients throughout California. Mr. Moncrief’s ability to integrate public and private sector perspectives helps him achieve successful outcomes in pursuing economic and real estate development projects and programs.
Mr. Moncrief currently provides advisory services to guide clients through the dissolution of redevelopment agencies, develop site-specific or large-scale strategies for the management, disposition, and development of public agency real estate assets, and assist with preparing and implementing comprehensive economic development strategies.
Crexi is transforming commercial real estate with advanced, integrative technology and data analytics designed to accelerate every CRE stakeholder’s success. From trading properties to machine-learning-powered industry Intelligence, Crexi’s intuitive CRE solutions accelerate transaction velocity and have empowered over 2 million monthly users to close $330 billion in deals and market over $2 trillion in property value.