BART prioritizes affordable housing with TOD policy update

04.24.20

BART prioritizes affordable housing with TOD policy update

At its April 23 meeting, the BART Board of Directors voted to amend its Transit-Oriented Development Policy to support the production of affordable housing.  The policy amendments provide greater clarity about the expected financial return to BART from its developments, and allow for a discount of up to 60% from fair market value for its land for projects with affordable housing. Projects with a greater share of affordable housing, and serving households with lower incomes, will be eligible for a higher discount.

While BART’s focus is ensuring essential workers and transit dependent riders are able to continue to move throughout the Bay Area during COVID-19, our parking lots, trackways, and stations are embedded in many communities and we have a chance to make those areas work better for everyone. BART is aware of the difficulties long faced by lower income workers and families struggling to afford to live in the Bay Area, and realizes that COVID-19 has only exacerbated this struggle.

Download the presentationdraft framework, and redline of the policy

Learn more about BART’s Transit-Oriented Development projects at: www.bart.gov/TOD.

Sign up for email alerts related to our TOD program at https://cloud.info.bart.gov/signup