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Can streamlining environmental reviews win back investment? California developers are watching.

Developers hope overhaul of landmark law will help restore investor confidence
The multifamily vacancy rate is 5% in Los Angeles' West Adams neighborhood. Since 2020, California's apartment supply has increased by only 8.3%, half the national growth rate of 16.6%, according to CoStar data. (CoStar)
The multifamily vacancy rate is 5% in Los Angeles' West Adams neighborhood. Since 2020, California's apartment supply has increased by only 8.3%, half the national growth rate of 16.6%, according to CoStar data. (CoStar)

California lawmakers have approved major changes to the state’s environmental review law, aiming to reduce delays that have long hampered housing and infrastructure development.

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