BART amends TOD policy to address California housing crisis

Rail News Home Rail Industry Trends 4/27/2020 Rail News: Rail Industry Trends
BART's new policy allows for a land discount of up to 60 percent for projects with affordable housing.Photo – BART Facebook

Bay Area Rapid Transit’s (BART) board last week amended the agency’s transit-oriented development (TOD) policy to support affordable housing. 

The policy amendments allow for a land discount of up to 60 percent from fair market value for projects on BART property with affordable housing. 

Projects with a greater share of affordable housing, and serving households with lower incomes, will be eligible for a higher discount, BART officials said in a press release.

The amendment also provides greater clarity about the expected financial return to BART from its developments, officials said.