Metro96

Metro96

LOS ANGELES — NBC Los Angeles is reporting the Los Angeles County Metropolitan Transportation Authority (Metro) is tagging $9 million for a loan program aimed at spurring affordable housing near its stations.

The Metro Affordable Transportation Connected Housing Program is part of a public-private partnership to loan money to developers to build more affordable housing within a half-mile of transit lines, which in turn could encourage more ridership.

Jenna Hornstock, executive officer for Metro's Transit-Oriented Communities programs, said the loans will help preserve affordable units in areas that are gentrifying and go toward helping to build roughly 1,800 new units. For the full story, click here.

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