Knowing that affordable housing is one of the most urgent needs in Los Angeles County, the Metro Board of Directors moved forward with an initiative to partner with local communities to build more affordable housing near transit stations.
The plan, recently approved by the board, and authored by Supervisor Mark Ridley-Thomas, Mayor Eric Garcetti, Director Mike Bonin and Director Jacquelyn Dupont-Walker, includes taking an inventory of current and future affordable housing joint development opportunities resulting from the Gold Line and Expo Extensions and the Crenshaw/LAX, Regional Connector, and Purple Line Extension Projects.
To date, nearly 550 units, or 25 percent of all units, developed through MTA’s Joint Development Program are affordable units. Last year, MTA joined with the California Community Foundation and the California Endowment to study the status of affordable housing financing resources in Los Angeles County and the role that other major transit agencies nationwide have played in affordable housing.
“Providing affordable housing to low income residents is one of my top priorities,” said Supervisor Mark Ridley-Thomas. “Decent, stable housing is one of the most essential elements for any human being to thrive. These developments are conveniently located and allow for easy access to transit in a low cost and environmentally friendly way.”
In addition, the motion seeks to promote co-investment along transit corridors with cities, such as using municipal funds for affordable housing, establishing a policy that 30 percent of all residential units developed on MTA-owned property be affordable housing and establishing a TAP purchase program for future commuters and affordable housing tenants.