L.A. Transit Agency Now in Housing Business, Thanks to P3

By Nolan Miles
P3 Kentucky Staff Writer

Los Angeles’ transit agency is in business with more than just bus and metro lines. The Los Angeles County Metropolitan Transportation Authority is taking strides to encourage affordable housing with a public-private partnership.

A $9 million loan is being sought by the agency to build approximately 1,800 affordable housing units near its stations, countering gentrification and displacement. Named the Metro Affordable Transit Connected Housing Program (MATCH), the public-private partnership combines funding from the metro agency, the California Community Foundation, the California Endowment and the Weingart Foundation.

“It’s a loan not a subsidy, so it’s leveraging existing dollars, and affordable housing near transit is one of the best ways to ensure that nearby development actually generates ridership,” said Ethan Elkind, director of climate change and business program at UCLA.

For the full story, click here.

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