Joint Development Program - Metromedia.metro.net/projects_studies/joint...floor retail > New bus layover facility > 438 apartments / 88 affordable > 79,000 square feet retail of retail
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metro.net/projects/joint_dev_pgm
Metro’s Joint Development sites are a gateway to the Metro transit system and hold unique potential to advance community development goals while attracting new riders to the Metro system.
Joint Development is the real estate development program through which Metro collaborates with qualified developers to build transit-oriented developments on Metro-owned properties.
Joint Development (JD) efforts reduce auto use and increase transit ridership by directly linking Metro’s transportation network with retail, commercial, and housing opportunities. JD projects also provide Metro with revenue based on the value of Metro’s property. These amounts, in turn, are reinvested in eligible transportation projects throughout Los Angeles County.
Joint Development Program
Metro Joint Development Program
Under Construction
1st/Boyle Taylor Yard Lots 5a
In Negotiations
Westlake/MacArthur Park (Phase B)
1st/Soto 1st/Lorena Cesar Chavez/Soto Taylor Yard Lots 2,5b
Completed
Hollywood/Highland Hollywood/Vine Apts Hollywood/Vine Hotel & Condos Hollywood/Western Wilshire/Western Wilshire/Vermont Apts Wilshire/Vermont School Westlake/MacArthur Park (Phase A) Willow Grand Central Market One Santa Fe Union Station (Metro HQ) Taylor Yard Lots 1,3, 4 Fillmore Del Mar Sierra Madre Villa (Phase I)
Opportunity Sites
Canoga Park/Ride Sepulveda Park/Ride Van Nuys North Hollywood Vermont/Santa Monica Vermont/Beverly Aviation/LAX Artesia 103rd St/Watts Towers Mariachi Plaza Cesar Chavez/Fickett Temple/Beaudry Sierra Madre Villa (Phase II) El Monte Expo/Crenshaw 1st/Central Fairview Heights
Transit Oriented Communities (TOC) are compact, walkable and bikeable places in a community context. Supporting TOCs means stretching the impact of an individual TOD to achieve broader community development goals and increase transit ridership.
> Metro is currently undergoing the largest transit expansion in the country with the power to activate a network of sites; as more destinations come on line, that power increases exponentially
New Joint Development Policies
In July 2015, the Metro Board of Directors adopted the updated JD Policies and Process. This document clarifies the JD process and emphasizes the importance of collaboration with municipal partners and community members. It also includes new policies to encourage development of much-needed affordable housing in LA County:
> 35% Portfolio-Wide Goal> Proportional Land Discounting
Joint Development Portfolio: Examples
35% Portfolio-Wide GoalMetro established a goal that 35% of total housing units in the JD portfolio be affordable to households earning 60% of area median income (AMI) or below.
Proportional Land Discounting Metro may discount JD ground leases below the fair market value to accommodate affordable housing with an income target of 60% AMI or below. The discount is based on the development’s percentage of affordable units with a maximum discount of 30%.
> 375 apartments / 78 affordable> 305-room W Hotel> 143 W condominiums> 59,000 square feet of ground
> Metro brings relationships with jurisdictions, grant makers, community leaders and other public agencies that can support the streamlined delivery of development projects and achievement of broader community development goals
> Before beginning any TOD effort, Metro engages in a comprehensive outreach campaign with community stakeholders to develop a set of development guidelines