City of Santa Monica Looks to Sell to Developers
The coastal city of Santa Monica is seeking developers to develop three city-owned properties, with the goal of attracting developers looking to build affordable housing as the city works to comply with California’s Surplus Land Act, Urbanize Los Angeles reported.
Properties for Sale
If interested, applicants would be responsible for obtaining all permits, land use approvals and environmental clearances associated with redevelopment, as well as any demolition costs for existing structures.
Bergamot Station Arts Center
Bergamot Station Arts Center, spanning 5.6 acres at 2525 Michigan Avenue, is the largest of the sites being offered. Located next to the E Line’s 26th Street/Bergamot Station stop, the site is currently home to art galleries, The Crow comedy club, and a restaurant. Under the proposed redevelopment plan for the Bergamot site, a developer would be required to create at least 707 affordable homes for renters making up to 80 percent of the area median income, defined in Los Angeles County as a maximum of $84,850 for one person.
Requirements for Bergamot Site
Applicants must also provide at least 15 percent of the total proposed apartments as affordable housing for artists and are encouraged to explore cultural and arts tenants in the commercial spaces. A mixed-income development with market-rate and moderate-income housing could also be considered, per Urbanize.
Downtown Santa Monica Sites
The second parcel, at 1333 4th Street and 1324 5th Street in downtown Santa Monica, is about 2.6 acres and is currently occupied by surface parking and small commercial buildings home to Bank of America and Chase Bank branches. There, the city is hoping to build at least 362 affordable homes. Also suggested are a hotel, a park or space for the annual ice skating rink. The site was previously slated for redevelopment with a mixed-use complex including a hotel and offices.
Third Site
A third site at 1234 4th Street consists of nearly 0.8 acres, currently the site of a parking garage. Developers wouldn’t be limited to building affordable housing there, and are permitted to maintain and retrofit the garage into a new development.
Priority for Affordable Housing
Priority will be awarded to firms who propose projects consist of at least 25 percent of affordable housing; greater priority will be given to those with the most number of affordable units.
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Conclusion
The city of Santa Monica is taking steps to increase the availability of affordable housing by selling three city-owned properties to developers. The goal is to attract developers who will build affordable housing, with a focus on creating units for renters making up to 80 percent of the area median income.
FAQs
Q: What is the city of Santa Monica looking to do with its three city-owned properties?
A: The city is looking to sell the properties to developers to build affordable housing.
Q: What are the requirements for the Bergamot Station Arts Center site?
A: Developers must create at least 707 affordable homes for renters making up to 80 percent of the area median income, and provide at least 15 percent of the total proposed apartments as affordable housing for artists.
Q: What is the priority for selecting developers?
A: Priority will be awarded to firms who propose projects consist of at least 25 percent of affordable housing, with greater priority given to those with the most number of affordable units.
