A new development featuring affordable housing and street-level commercial space could rise above the Red Line's Vermont/Santa Monica Station, according to an agenda item from this week's meeting of the Metro Board's Planning and Programming Committee.

Last year, Little Tokyo Service Center submitted an unsolicited proposal to Metro for a joint development above the subterranean station which would incorporate approximately 1.5 acres of Metro- and LTSC-owned property.  The project would consist of 160 residential units - including 80 units for individuals with special needs - above 21,000 square feet of ground-floor commercial space.

The proposed development would cater to households making between 30 and 60 percent of the area median income.

Should a staff recommendation be adopted by the Metro Board of Directors, the agency will enter into an 18-month exclusive negotiating agreement with LTSC for the Vermont/Santa Monica property.  If and when that occurs, LTSC and Metro would commence with public outreach for the project and refine its design.  Schematic drawings and a conceptual plan would be formulated by late 2018, after which point LTSC would obtain project entitlements and environmental clearance.  By summer 2019, LTSC would return to the Metro Board to enter into a joint development agreement and a ground lease for the site.