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Bay Area Rapid Transit's board (BART) has authorized agency staff to enter an exclusive negotiating agreement with a local joint venture to create a transit-oriented development (TOD) above the Lake Merritt Station in Oakland, California.The joint venture comprises the East Bay Asian Local Development Corp. and Strada Investment Group. The team's plan calls for four new buildings on BART-owned lots above the station, BART officials said in a press release.The proposal features 519 units of housing, nearly half of which would be deemed affordable units, according to a BART press release. The plan also calls for 517,000 square feet of commercial space for offices and shops. Over the next two years, the agency will seek community input and refine the project."We're looking for a development that has it all: affordable housing, space for local services, job centers encouraging a reverse commute and support for regional and state climate goals," said BART President Robert Raburn. "To achieve these goals, we are going to continue the process with strong and significant involvement of the community."
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