Meet The Real Estate Billionaire Who Hates Affordable Housing And Loves Trump And The GOP by giacomotognini
He’s made those riches by developing properties in historically low-income neighborhoods and installing high-end apartments that price out local residents. He’s done it by unabashedly fighting local government for years. He’s done it ruthlessly, bragging about how he’s in the real estate business to avoid taxes. And, most recently, he’s done it by spending $31.
Much of his fortune comes from Palmer’s so-called “Renaissance Collection” of high-end, Italian-style buildings. Before redistricting last year, eight of Palmer’s nine downtown Los Angeles developments were located in California’s 34th congressional district, where 23% of people live below the poverty line, double the nationwide average. That puts his properties out of reach for many local residents.
"Palmer has been involved in a lot of unhelpful [and] destructive behavior in terms of solving Los Angeles' housing crisis,” says Cynthia Strathmann, executive director of the economic justice nonprofit Strategic Actions for a Just Economy "But he's been here for so long and people are so used to him doing unhelpful and unpleasant things that it's no longer a surprise.
Palmer’s first salvo against local real estate regulations came in 1987. In a bid to oppose the incorporation of the city of Santa Clarita—which would have—he allegedly routed $7,000 in political donations to an anti-incorporation committee through seven of his company’s employees and one employee’s mother. The incorporation measure passed, and the new Santa Clarita city council shot down his proposals in 1990.
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Meet The Real Estate Billionaire Who Hates Affordable Housing And Loves Trump And The GOPGeoffrey Palmer made a multibillion-dollar fortune building luxury residential buildings in southern California. To keep rents high and taxes low, he’s spent nearly $32 million in the past six years opposing ballot initiatives and backing Republicans–particularly Donald Trump.
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Meet The Real Estate Billionaire Who Hates Affordable Housing And Loves Trump And The GOPGeoffrey Palmer made a multibillion-dollar fortune building luxury residential buildings in southern California. To keep rents high and taxes low, he’s spent nearly $32 million in the past six years opposing ballot initiatives and backing Republicans–particularly Donald Trump.
Les mer »
Meet The Real Estate Billionaire Who Hates Affordable Housing And Loves Trump And The GOPGeoffrey Palmer made a multibillion-dollar fortune building luxury residential buildings in southern California. To keep rents high and taxes low, he’s spent nearly $32 million in the past six years opposing ballot initiatives and backing Republicans–particularly Donald Trump.
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