Affordable housing developer wants to be the first to benefit from new transit oriented development incentives

The project in South LA qualifies as a Tier 3 (high) transit zone

Los Angeles /
Oct.October 12, 2017 05:30 PM

An unspecified developer filed plans with the city Wednesday to build a 51-unit complex at 432 E. Florence Avenue in South Los Angeles. It would be the first to use the Transit Oriented Communities incentives that went into effect last month, Urbanize reported.

Due to the project’s proximity to transit stops, the developer requested relief from yard setback requirements and an extra 11 feet in height.

Planning documents filed with the city suggest 50 units will be set aside for extremely low-income households — those earning less than 30 percent than the L.A. area median income — with the remaining unit saved for the manager of the property. An auto repair garage, which now sits on the site, would be demolished.

The incentives for developers to build near transit hubs are a recent rollout that is part of Measure JJJ, which passed with 64 percent voter support last year. The transit incentives program was officially adopted Sept. 22.

The project’s location — one block away from the Florence/San Pedro bus stop and not far from the Florence Metro — qualifies it as Tier 3 (high), meaning it is less than 750 feet away from a regular bus and Metrolink Rail station. That allows developers filing on the site to request increased density and ground area, as well as reduced parking and yard space.

Other stipulations of Measure JJJ require developers seeking zoning exemptions to pay their workers union-approved rates and set aside 40 percent of units for low-income households. [Urbanize]Natalie Hoberman


Related Articles

arrow_forward_ios
Neil Shekhter (Shekhter by Kevin Scanlon; iStock)
Santa Monica mega-portfolio officially hits market
Santa Monica mega-portfolio officially hits market
NMS Properties' Neil Shekhter and renderings of 1325 6th Street, 1437 6th Street, 1430 Lincoln Blvd. and 1318 Lincoln Blvd. in Santa Monica (Kevin Scanlon, WSC)
City for sale: Shekhter looks to unload mega-portfolio in Santa Monica
City for sale: Shekhter looks to unload mega-portfolio in Santa Monica
Sean Burton and a rendering of the project (Cityview, Humphreys & Partners Architects)
Cityview secures funding for nearly 300-unit complex near USC
Cityview secures funding for nearly 300-unit complex near USC
Continuum CEO Mark Falcone and a rendering of the project (EYRC Architects via Urbanize)
Continuum Partners, Platinum Equities plan Arts District office tower
Continuum Partners, Platinum Equities plan Arts District office tower
Rendering of 577-unit District Square project in South L.A. (Los Angeles Department of City Planning, iStock)
Judge orders LA to reconsider Charles Co.’s District Square project
Judge orders LA to reconsider Charles Co.’s District Square project
Forme Development President Damon Chan and rendering of 550 Shatto Place (Forme, Gensler via Urbanize)
Going up: Koreatown tower project developers boost plans
Going up: Koreatown tower project developers boost plans
Herb Wesson (top) and Curren Price with a rendering of 3800 W 6th Street (Linkedin, Twitter, Large Arch)
LA officials backtrack on aid for Koreatown hotel project
LA officials backtrack on aid for Koreatown hotel project
Richard Llewellyn and Ron Galperin (City of LA, Wikimedia)
LA’s ballooning budget shortfall could require property selloff
LA’s ballooning budget shortfall could require property selloff
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...