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9/20/2004



Rail News: Rail Industry Trends

Los Angeles MTA showcases transit-oriented development projects at Rail-Volution


Developers are investing more than $4 billion in at least 30 new development projects around Los Angeles County Metropolitan Transportation Authority (LA MTA) stations, according to an informal survey recently conducted by the agency.

New development projects in downtown Los Angeles, Chinatown, Long Beach, North Hollywood, Lincoln Heights, Hollywood and Pasadena are being showcased at Rail-Volution, a national transit-oriented development conference being held this week in Los Angeles.

"The Los Angeles area is reinventing itself to build better communities for residents who are now dealing with urban sprawl, traffic congestion, a housing shortage and reduced quality of life," said Roger Snoble, LA MTA chief executive officer, in a prepared statement.

Developers already have invested more than $1 billion around LA MTA stations, especially along the Red Line, where new joint development projects have helped revitalize portions of downtown Los Angeles and Hollywood.

Other transit-oriented development projects — which include a mix of housing, retail, office and entertainment venues — are planned around Metro Gold Line stations between downtown L.A. and Pasadena, and within the transit mall loop on the Blue Line.




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