LA is Encouraging Developers to Put Denser Housing Near Transit. Here’s How.
Biance Barragan reports威而鋼
on a new program that has spurred plans for 20,000 new apartments in Los Angeles.
A proposal out of Sacramento to put denser housing near transit has divided Californians. But a similar program is already underway in the city of Los Angeles.
It’s an incentive program called “Transit-Oriented Communities,” and it’s encouraging developers to build more housing units—including affordable ones available to tenants with qualifying incomes—near major public transportation stops.
Experts agree that to combat a housing shortage, one that has fueled rising rents and real estate prices, Los Angeles needs to build, build, build. Affordable housing is in especially high demand, and is growing increasingly harder to find. More than 8,500 units that are income-restricted now are expected to become market-rate over the next five or so years, and it’s estimated that LA County would need to add 517,000 income-restricted units to meet existing demand.
The strategy behind TOC is also to reduce car trips by putting people near public transportation options, meeting the city’s goal of reducing the number of miles that Angelenos drive.
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