NDC – Brookfield Partnership Selected to Advance North Concord BART TOD

BART Selects Brookfield Residential / Novin Development Corporation to Advance Transit-Oriented Development at the North Concord/Martinez BART Station Following a 2 1/2-month competitive selection process, BART Board awarded exclusive negotiating rights to Brookfield Residential / Novin Development Corporation for an initial period of 24 months, with a possible 24 month extension. The agenda and board packet with the recommendation are now available (view PDF). Full...

Funding Affordable Housing Near Transit in the Bay Area Region

Based on the Bay Area’s progress in meeting the Regional Housing Needs Allocation (RHNA) goals for 2007-2014, it is apparent that the region faces a challenge in producing sufficient very low income (VLI), low income (LI) and moderate income (MODI) housing units to meet demand. While the housing production goals were largely met for market-rate units (above moderate income) across the Bay Area, only 28 percent of the units allocated for lower income households were issued permits from 2007-2014. Lack of funding, limited development sites zoned for housing, and inadequate public support are some of the major barriers to developing affordable units. In response to the region’s housing affordability crisis, two of the region’s major transit agencies – BART (Bay Area Rapid Transit) and VTA (Santa Clara Valley Transportation Authority) – have recently established ambitious targets for building lower income housing on their transit lands. Achieving the transit agencies’ objectives will require raising additional local funding, in addition to coordinating closely with local jurisdictions to enable higher-density housing on transit properties… Read the Full Report Here...