AB 2433 & Why This Matters Locally

AB 2433 would:

  • Rename the Density Bonus Law as the “Affordable Homes Bonus Program”

  • Expand the number of incentives and waivers developers may request

  • Adjust how “realistic development capacity” is calculated in some mixed-use zones

  • Move certain qualifying projects toward by-right (ministerial) approval

Important clarification:
The bill does not increase the percentage of affordable units currently required under Density Bonus law.

  • In zones regulated by Floor Area Ratio (FAR), the bill may allow applicants to treat the full allowable building envelope as residential when calculating base density. This could raise the starting unit count before bonus units are applied.

  • The bill expands opportunities to seek waivers or incentives affecting:

    • Height

    • Setbacks

    • Other local development standards

  • Projects that meet state criteria could qualify for ministerial approval, meaning:

    • No discretionary review

    • Limited public process

    • Approval based primarily on objective standards

Why 926 Turquoise Street Is Relevant

NFABC has been informed that 926 Turquoise Street is held under a separate LLC connected to the same controlling ownership group as the Vela applicant.

While each property is legally distinct, coordinated ownership in close proximity may have cumulative impacts on:

Parking & Traffic

Water & Sewer Systems

Fire Access & Emergency Response

Neighborhood Scale

What AB 2433 Does Not Do

  • It does not increase affordable housing percentages.

  • It does not provide funding for infrastructure upgrades.

  • It does not automatically allow unlimited height.

  • It does not eliminate building safety standards.

The Infrastructure Question

If development intensity increases and approvals accelerate, infrastructure systems must keep pace.

AB 2433 does not include dedicated funding mechanisms for:

  • Water upgrades

  • Sewer capacity

  • Road improvements

  • Emergency response infrastructure

NFABC believes growth and infrastructure planning must move together.

AB 2433 is newly introduced and awaiting committee referral. NFABC will track amendments, fiscal analysis, and any related project filings and provide updates as the bill advances.