LA buys land to stop gentrification by transit projects – Robert Khodadadian

Construction of rail stations often sparks adjacent high-end development and rent increases that price out mom-and-pop operators and low-wage earners. Now L.A. Metro plans to bank land to prevent such gentrification. It’s a decidedly different approach to that taken by New York City, which funded the extension of the No. 7 train to Hudson Yards by issuing bonds to be repaid by the higher property taxes generated by the $2.4 billion project. The Metropolitan Transportation

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Cross Post, Home Page, Residential Real Estate, Affordable Housing, gentrification, Highland Park, LA Metro, land bank, Los Angeles County, los angeles river, North Hollywood, Pasadena, South Los Angeles, southeast L.A. County The Real Deal New York Read More

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