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Rail News: Passenger Rail
4/14/2010
Rail News: Passenger Rail
L.A. MTA breaks ground on mixed-use development
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The Los Angeles County Metropolitan Transportation Authority (LACMTA), Los Angeles Housing Partnership, McCormack Baron Salazar, Polis Builders and Goldman Sachs Urban Investment Group have launched construction on the first phase of a mixed-use transit-oriented development (TOD) near the Westlate/Macarthur Park Metro rail station.
The project is part of LACMTA’s Joint Development Program, which aims to secure the most appropriate private and/or public sector development on LACMTA-owned property located near stations and corridors, authority officials said in a prepared statement.
Phase one will feature 90 units of affordable rental housing above approximately 15,000 square feet of ground-floor retail space and residential, retail and commuter parking facilities. The 100-space commuter parking facility will be partially funded by LACMTA. The total cost for phase one is approximately $45 million.
The second phase of the development, to be built directly over the station entrance, will include 82 affordable housing units, a retail component and parking.
The project is part of LACMTA’s Joint Development Program, which aims to secure the most appropriate private and/or public sector development on LACMTA-owned property located near stations and corridors, authority officials said in a prepared statement.
Phase one will feature 90 units of affordable rental housing above approximately 15,000 square feet of ground-floor retail space and residential, retail and commuter parking facilities. The 100-space commuter parking facility will be partially funded by LACMTA. The total cost for phase one is approximately $45 million.
The second phase of the development, to be built directly over the station entrance, will include 82 affordable housing units, a retail component and parking.
