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It is no surprise to hear that access to public transit has been a target characteristic for developers of multifamily product or that transit-oriented development has increased in popularity; however, new research from JLL shows that the majority of the new construction pipeline is congregated around transit lines and stations. Specifically, the new construction activity is most significant in the center of Los Angeles and Downtown Los Angeles, which has access to the largest number of transit lines, as well as along the red line north of the city center.

“The Los Angeles area is undergoing an urban renaissance and the growth of the transit system is an important part of that,” Peter Belisle, Southwest market director at JLL, tells GlobeSt.com. “In fact, L.A. Metro will spend $52 billion on transportation projects over the next decade, with $21 billion of that targeted for bus or rail improvements. To keep our city moving and growing, we need to continue investing in these types of infrastructure improvements. The good news is that developers in L.A. are now incentivized to build near transit since 64% of voters approved Measure JJJ in late 2016. The measure provides certain incentives for projects located within a half mile of a transit stop, including reduced parking requirements, more units within the project, and greater height allowances. All of these factors are promoting density and new housing development along transit.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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