The Los Angeles Transit-Oriented Communities program, which offers development bonuses in exchange for affordable housing in developments near transit lines, is the city's most successful affordable housing tool.
"The [city of Los Angeles'] Transit-Oriented Communities program went into effect nearly 10 months ago, and in that time, it has helped put more than 1,000 affordable housing units in the pipeline," reports Dennis Lynch.
That information comes by way of a report from the Los Angeles Department of City Planning [pdf], showing that 1,145 affordable units have been added to otherwise market rate developments. "The program only applies to projects within a half-mile of major transit stops, which include some bus lines and all Metro light-rail lines. It allows more significant bonuses to projects closer to those stops and those that incorporate higher percentages of affordable units," explains Lynch.
A March article by Dennis Lynch reported willingness by developers to add the requisite affordable housing to participate in the program.
FULL STORY: Developers have filed for 1K+ affordable housing units under city program: report
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