@John WoodrichHi John,  The first step is the Met Council has to approve/ratify the 2040 Comp plan MPLS approved in December. 

Since this area is already built-out to a great degree, much of the new housing is going to have to be fill-in of existing neighborhoods and this is recognized by the planners.A new county code revision nearing a final council vote is to reduce the lot size requirement for a duplex from 150% of the normal SFR minimum to the same as an SFR.

But very few investors are in the #1 performing sector over the last 1, 3, 5 and 10 year periods, according to the National Council of Real Estate Investment Fiduciaries (NCREIF): senior housing.  

LA City Council approved a compromise ordinance impacting developers more than owners.Other hotels outside the city limits of Los Angeles have traded since April; however, investment activity is still muted, and most of the hotels that sold in 2023 were Economy class hotels or part of larger national portfolio transactions.

Does anyone know which city council members are the investor friendly ones?  

Locals reach out to the local government and the council members propose all kinds of bills and regulations in the hopes of making the locals happy.Essentially what has happened here, is that in order to get a permit on a single family home for STR use, you need to meet a few criteria.  

While I'm aware of this, never looked that much into the technicalities of the issue. the risk is if the option cancels the option money the seller receives is now taxable.. so seller needs good council on this as well 

I imagine we are another year or two out from people realizing the value that the city council approved and massive mixed use development nearby will have on prop values.

If only my city’s city council thought like you there would be progression, not regression.

The language for approval is working it's way through the local Village planning committees, then to Planning Commission then to Council and the Mayor for approvals.