Los Angeles County Metropolitan Transportation Authority. Metro Joint Development and Affordable Housing
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1 Los Angeles County Metropolitan Transportation Authority Metro Joint Development and Affordable Housing
2 Affordable Housing Projects Map Goal 1 Goal 2 Goal 3 Goal 4 Goal 5 Completed Affordable Housing projects Under Construction/In Negotiation Affordable Housing projects Velit wisi euismod qui consectetuer, elit vulputate vulputate adsum quia enim vel Consequat ut ut quis nulla hendrerit Nisl nisl, dolor sit, praesent ad eum Tation nisl blandit velit si delenit odio Nisl nisl, dolor sit, praesent ad eum suscipit consequat ut
3 Metro seeks from TOD/Joint Development Reduced auto use/increased transit use Density, but consistent with surrounding neighborhood Mix of uses linked to transit Upgrades to/completion of Metro facilities Strong neighborhood and inter-modal link Pedestrian orientation Enhanced transit patron experience Long-term ground lease (typically) Fair market return Sustainable development
4 Hollywood/Vine Apartments Line: Metro Red Line Site: 2.4 acres of Metroowned property 297 market rate apartments 78 affordable apartments 28,000 sq. ft. of ground floor retail New bus layover facility Status: Complete Completion: 2009 Developer: Legacy Partners
5 Hollywood/Western Apartments Line: Metro Red Line Site: 2.6 acres (1.5 Metroowned) 120 affordable apartments 9,000 sq. ft. of ground floor retail 4,000 sq. ft. Childcare Facility Status: Complete Completion: 2004 Developer: McCormack Baron Salazar
6 Westlake/McArthur Park Line: Metro Red/Purple Line Site: 2.8 acres Metro-owned property 90 affordable apartments 20,000 sq. ft. retail 100 transit parking spaces Status: Complete Completion: 2012 Developer: McCormack Baron Salazar
7 Wilshire/Vermont Apartments Line: Metro Red/Purple Lines Site: 3.2 acres of Metroowned property 359 market rate apartments 90 affordable apartments 36,000 square feet of ground floor retail Status: Complete Completed: 2007 Developer: Urban Partners
8 Grand Central Market Apartments Line: Metro Red/Purple Line Site: 1.95 acres of privately owned property 60 market rate apartments 61 affordable apartments Theater, Retail Status: Complete Completion: 1995 Developer: Grand Central Square Limited Partnership
9 1 st /Boyle Apartments Line: Metro Gold Line Site: 1. 5 acres Metro-owned property 1 market rate apartment 79 affordable apartments 4,000 sq. ft. retail Status: In Negotiation Developer: McCormack Baron Salazar
10 1 st /Lorena Apartments Line: Metro Gold Line Site: 0.7 acre Metro-owned property 25 market rate apartments 24 affordable apartments 5,000 sq. ft. retail Status: In Negotiation Developer: A Community of Friends
11 Del Mar Station Apartments Line: Metro Gold Line Site: 3.6 acres privatelyowned property 326 market rate apartments 21 affordable apartments 11,000 sq. ft. retail 600 transit parking spaces Status: Complete Completion: 2007 Developer: Urban Partners
12 One Santa Fe Apartments Line: Metro Red/Purple Line Rail Yard Site: 4.0 acres of Metro-owned property 350 market rate apartments 88 affordable apartments 44,000 sq. ft. retail 35,000 sq. ft. other uses Status: Complete Completion: The McGregor Company
13 Taylor Yards Apartments Line: Metrolink Lot 1 Site: 1.9 Metro-owned property 1 market rate apartment 86 affordable apartments Status: In construction Developer: McCormack Baron Salazar Lot 3 Site: 1.5 Metro-owned property 1 market rate apartment 67 affordable apartments Status: Complete Developer: McCormack Baron Salazar Lot 5 Site: 2.5 Metro-owned property 108 affordable apartments 28,400 sq. ft. retail Status: In Negotiation Developer: McCormack Baron Salazar
14 Total Affordable Housing Completed Projects Affordable Housing Units Market Rate Housing Units Hollywood/Vine Hotel Hollywood/Vine Apartments Hollywood/Western Apartments Westlake/McArthur Park Phase A 90 0 Wilshire/Vermont Apartments Wilshire/Western Apartments Grand Central Market Apartments** Del Mar Apartments** One Santa Fe Apartments Total Completed Units In Construction/In Negotiation Projects 1st/Boyle Apartments st/Lorena Apartments Taylor Yard Apartments Lot Taylor Yard Apartments Lot Taylor Yard Apartments Lot Taylor Yard Condos Lot 5 Mixed Use Total in Negotiation Units Total Housing Units Percentage 34% 66% ** Not on Metro-owned land
15 Additional Projects Under Review Vermont and Santa Monica Under Negotiation Taylor Yards Parcel 5 1 st and Soto Selection Process Mariachi Plaza - Selection Process Chavez and Soto Selection Process Sepulveda Orange Line RFP Preparation North Hollywood RFIQ Preparation
16 November 2014 Motion on Affordable Housing Motion requires report back on potential for: Inventory of completed and potential sites MOU with local jurisdictions Portfolio goal of 30% affordability JD policy amendment to allow land discounts Contributing to TOAH fund Establishing TAP bulk program for housing Amendments further request reports on: Cap and Trade funding opportunities Costs of potential actions Embedding TAP program costs in development cost
17 Report Back in February Examines MOU with cities Would need to be tailored to accommodate varied needs of different cities, includes co investment provision Land Discounts for Affordable Housing Based on the need to maintain affordable housing near transit as areas around transit become more desirable Weighted with impact of lost ground lease revenue Source and impact of a potential TOAH Fund Eligible sources extremely limited Structure of the fund could be designed to streamline approval process
18 Report Back in February Examines TAP program for housing Would allow a group rate for TAP cards purchased for an entire housing project Could have the potential for expansion to other projects Impacts on fare box revenue must be considered Cap & Trade Potential new funding source for affordable housing projects Opportunities to partner with cities and developers and promote First / Last Mile goals
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