Cannabis Counsel Alexa Steinberg spoke with MJBizDaily about the initiative to house the homeless in Los Angeles and the effect on social equity license holders and other retailers.

Excerpts:

“As Karen Bass creates sustainable housing for this population, that continues to push cannabis retail in particular out of the market,” said Alexa Steinberg, counsel at L.A.-based law firm Greenberg Glusker, which represents retail lottery license winners and applicants.

Finding a property – and a landlord willing to lease it and work with operators throughout the application process – is challenging enough, Steinberg said.

“Putting in supportive housing all over the city takes away a percentage of those landlords that were willing to lease to these businesses,” she added.

“So now you’ve got an even narrower market.”

More often than not, Steinberg’s clients roll the dice and wait for the DCR to approve or deny the location.

“The only way we’re going to know is if we file,” said Steinberg, who offers this advice to prospective renters:

“Determine how risk averse you might be or not. And if you sign a lease with that landlord, be damn sure you can get out.”

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• MJBizDaily