Hudson Partners is pleased to present this rare development opportunity adjacent to the Mariachi Plaza Gold Line stop in Boyle Heights, one block from White Memorial Medical Center and with close proximity to Downtown L.A..
The majority of the 24,000 square feet of land is C2 zoned, which allows for a 1.5 F.A.R., not including an approximate 35% density bonus with an affordable housing component. There is no height limitation and there is strong support by the council members for a dense project, given that it’s contiguous to the Metro station.
Additionally, Measure JJJ was approved by the voters in November 2016. The measure, effective May 2017, adds potential affordable housing incentives for Transit Oriented Communities (T.O.C.) such as the subject property, to achieve a 3:1 F.A.R.
This land assemblage consists of 3 adjacent parcels in an area of rapid transformation along the L.A. River, just east of the Arts District and Little Tokyo.
Metro’ s Board of Directors adopted new development guidelines recently for a 1.08-acre parcel (adjacent to the subject property) that the agency owns. The agency has established a new framework for the site based on local input.
Boyle Heights is one of the oldest neighborhoods in Los Angeles. It’s located right over the 1st street bridge from Downtown Little Tokyo. Biking distance from the Grand Central Market, the fabric district, the downtown arts district, Union Station, and Chinatown. Walking distance from Mariachi Plaza, a public square with a sweeping view of downtown.