New City Incentive Encourages More Transit-Oriented Development
Partner Andrew Starrels discusses whether he believes incentives afforded by the TOC Program will fuel transit-oriented development activity in the coming year.
"It’s been well documented that Los Angeles has a severe shortage of multifamily housing, and the shortage of affordable housing is particularly critical," said Partner Andrew Starrels.
"In that light, any program to incentivize the production of affordable housing is a step in the right direction, and the TOC Program will likely fuel some new projects. The City reports that in the few weeks since the final guidelines were released, they have already taken several applications for TOC Program projects; however, I fear the step in the right direction may be a small one."
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