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Metro Joint Development and Affordable Housing
Los Angeles County Metropolitan Transportation Authority
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Completed Affordable Housing projects Under Construction/In Negotiation Affordable Housing projects
Affordable Housing Projects Map
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
Hollywood/Vine Apartments
• Line: Metro Red Line • Site: 2.4 acres of Metro-
owned property • Development:
– 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
Hollywood/Western Apartments
• Line: Metro Red Line • Site: 2.6 acres (1.5 Metro-
owned) • Development:
– 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
Westlake/McArthur Park
• Line: Metro Red/Purple Line
• Site: 2.8 acres Metro-owned property
• Development:
– 90 affordable apartments
– 20,000 sq. ft. retail
− 100 transit parking spaces
• Status: Complete
• Completion: 2012
• Developer: McCormack Baron Salazar
Wilshire/Vermont Apartments
• Line: Metro Red/Purple Lines
• Site: 3.2 acres of Metro-owned property
• Development:
– 359 market rate apartments
– 90 affordable apartments
– 36,000 square feet of ground floor retail
• Status: Complete
• Completed: 2007
• Developer: Urban Partners
Grand Central Market Apartments
• Line: Metro Red/Purple Line
• Site: 1.95 acres of privately owned property
• Development:
– 60 market rate apartments
– 61 affordable apartments
– Theater, Retail
• Status: Complete
• Completion: 1995
• Developer: Grand Central Square Limited Partnership
1st/Boyle Apartments
• Line: Metro Gold Line
• Site: 1. 5 acres Metro-owned property
• Development:
– 1 market rate apartment
– 79 affordable apartments
– 4,000 sq. ft. retail
• Status: In Negotiation
• Developer: McCormack Baron Salazar
1st/Lorena Apartments
• Line: Metro Gold Line
• Site: 0.7 acre Metro-owned property
• Development:
– 25 market rate apartments
– 24 affordable apartments
– 5,000 sq. ft. retail
• Status: In Negotiation
• Developer: A Community of Friends
Del Mar Station Apartments
• Line: Metro Gold Line
• Site: 3.6 acres privately-owned property
• Development:
– 326 market rate apartments
– 21 affordable apartments
– 11,000 sq. ft. retail
– 600 transit parking spaces
• Status: Complete
• Completion: 2007
• Developer: Urban Partners
One Santa Fe Apartments
• Line: Metro Red/Purple Line Rail Yard
• Site: 4.0 acres of Metro-owned property
• Development:
– 350 market rate apartments
– 88 affordable apartments
– 44,000 sq. ft. retail
– 35,000 sq. ft. other uses
• Status: Complete
• Completion: The McGregor Company
Taylor Yards Apartments
• Line: Metrolink
Lot 1 • Site: 1.9 Metro-owned property • Development:
– 1 market rate apartment – 86 affordable apartments
• Status: In construction • Developer: McCormack Baron Salazar
Lot 3 • Site: 1.5 Metro-owned property • Development:
– 1 market rate apartment – 67 affordable apartments
• Status: Complete • Developer: McCormack Baron Salazar Lot 5 • Site: 2.5 Metro-owned property • Development:
– 108 affordable apartments – 28,400 sq. ft. retail
• Status: In Negotiation • Developer: McCormack Baron Salazar
1 3
5
Total Affordable Housing
Completed Projects Affordable
Housing Units Market Rate Housing
Units Hollywood/Vine Hotel 0 143 Hollywood/Vine Apartments 78 297 Hollywood/Western Apartments 120 0 Westlake/McArthur Park Phase A 90 0 Wilshire/Vermont Apartments 90 359 Wilshire/Western Apartments 0 186 Grand Central Market Apartments** 61 60 Del Mar Apartments** 21 326 One Santa Fe Apartments 88 350
Total Completed Units 548 1721
In Construction/In Negotiation Projects 1st/Boyle Apartments 80 0 1st/Lorena Apartments 24 25 Taylor Yard Apartments Lot 1 87 0 Taylor Yard Apartments Lot 3 68 0 Taylor Yard Apartments Lot 4 0 41 Taylor Yard Condos Lot 5 Mixed Use 108 0
Total in Negotiation Units 367 66
Total Housing Units 915 1787 Percentage 34% 66%
** Not on Metro-owned land
Additional Projects Under Review
• Vermont and Santa Monica – Under Negotiation
• Taylor Yards Parcel 5 • 1st and Soto – Selection Process • Mariachi Plaza - Selection Process • Chavez and Soto – Selection Process • Sepulveda Orange Line – RFP Preparation • North Hollywood – RFIQ Preparation
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
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
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
Questions?
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