Listings / TRANSIT ORIENTED DEVELOPMENT

TRANSIT ORIENTED DEVELOPMENT , Los Angeles, CA

Price BEST OFFER

Gross Sq. Footage 129,721 SF

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INVESTMENT SUMMARY

The city of Los Angeles is in the process of adopting the Exposition Corridor Transit Neighborhood Plan ( ECTNP ), which encourages direct growth and accommodates new residential, mixed-use, commercial, and industrial development near transit stations. Located approximately 1/2 mile from the Culver City Metro Station.

For the Kramerwood / Helms neighborhood, the zoning change is significant. The implementation of the ECTNP signals the city’s desire to fundamentally transition this area to create a walkable neighborhood that encourages the use of transit ridership.

Currently zoned RD2-1, the neighborhood will now have a Mixed Use: Commercial/Residential – MU(EC) designation. The Mixed Use: Commercial/Residential zone is intended to allow neighborhood and community commercial uses and institutional uses, either alone or in combination with multi-family residential.

This zone activates commercial corridors with a variety of uses that serve the local community while also providing housing. There is a tremendous opportunity for redevelopment with the new zoning that will allow for enhanced density. The new zoning has no limit on the number of dwelling units based on lot size. Individual units within a Project shall have a minimum size of 350 square feet.

Through the addition of affordable housing and community amenities, a developer will be able to utilize a bonus floor area ratio of up to 3.6 to 1.