The movement to repeal Measure ULA is gaining traction, and its momentum is already influencing where developers build, how capital moves, and how owners evaluate long term positioning. For investors tracking Los Angeles multifamily ULA repeal efforts, the latest reports from Bisnow, The Real Deal, UCLA, CoStar, and the Los Angeles Times reveal a clear shift in the regional development landscape. The divide between the City of Los Angeles and its neighboring markets continues to widen, and the implications for multifamily strategy are significant.

Why the ULA Repeal Push Is Accelerating

The Howard Jarvis Taxpayers Association has started collecting signatures for a full repeal measure on the November 2026 ballot. The timing is not accidental. Developers and capital partners have increasingly described Los Angeles as unpredictable from both a tax and entitlement standpoint. As a result, firms continue to redirect their attention to cities where underwriting is more stable and exit risk is easier to compute.

Bisnow and The Real Deal report that the repeal effort resonates because of one central factor: deal flow has shifted out of Los Angeles at a pace the industry can quantify.

Culver City Emerges as a Westside Development Hub

Culver City has become the clearest beneficiary of the Los Angeles multifamily ULA repeal movement and the broader desire for predictable conditions. The city now has more than 4,200 residential units in its development pipeline, including major mixed use developments and large scale conversions. These projects are moving forward because the entitlement path is consistent, the timeline is reliable, and there is no ULA transfer tax impacting underwriting or projected exit costs.

Developers and investors continue to view the area as one of the most active and strategically positioned submarkets on the Westside.

Why Capital Is Choosing Burbank, Glendale, Pasadena, Long Beach, and the South Bay

The trend is not limited to Culver City. Across the county, investors are increasingly leaning toward cities with:

• Lower entitlement risk

• Faster permitting structures

• No ULA transfer tax

• Clearer visibility into long term exit costs

Burbank, Glendale, Pasadena, Long Beach, and multiple South Bay cities now attract a larger share of institutional and private capital. These markets offer economic and regulatory stability, allowing developers to model returns without the volatility of ULA’s transfer tax.

Data That Shows the Impact of ULA Since 2023

Several new data points illustrate the gap between Los Angeles and its neighboring markets.

A 2025 UCLA report estimates that roughly 1,900 units per year have gone unbuilt in the City of Los Angeles since ULA took effect. Additional findings show:

• Commercial transactions have declined 30 percent to 50 percent in the two years following implementation

• Apartment construction in the city is down 30 percent from 3 years ago

• Annual permitting dropped from 23,422 units in 2022 to 17,195 units in 2023

These figures were highlighted in reporting from UCLA, The Real Deal, Bisnow, and the Los Angeles Times, with CoStar data reinforcing the depth of the construction decline.

What the Los Angeles Multifamily ULA Repeal Movement Means for Owners

As the repeal campaign moves toward 2026, ULA will remain central to how owners model values, plan dispositions, and structure long term strategies. Developers continue to vote with their checkbooks, pushing new activity into nearby cities where costs and exit exposure are more manageable.

For owners inside Los Angeles city limits, this moment creates both strategic risk and potential opportunity. If ULA is repealed in 2026, pricing, development interest, and overall capital sentiment may shift quickly. If it remains, the divide between Los Angeles and surrounding markets could widen further.