This 38-year-old used to be homeless and now pays $19 per month for an apartment over an LA subway station thanks to affordable housing | Fortune
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This 38-year-old used to be homeless and now pays $19 per month for an apartment over an LA subway station thanks to affordable housing | Fortune
""Transit-oriented development should be one of, if not the biggest solution that we're looking at for housing development," said Yonah Freemark, research director at the Urban Institute's Land Use Lab, who has written extensively on the topic. "It takes advantage of all of this money we've spent on transportation infrastructure. If you build the projects and don't build anything around the areas near them, then it's kind of like money thrown down the drain," Freemark said."
""Metro areas from Los Angeles to Boston have taken the lead in tying new housing developments to their proximity to public transit, often teaming up with developers to streamline the permitting process and passing policies that promote developments that include a greater number of units. City officials argue building housing near public transit helps energize neglected neighborhoods and provide affordable housing, while ensuring a steady stream of riders for transit systems and cutting greenhouse gas emissions by reducing the number of cars on the road.""
""It is more a sense of relief, a sense of independence," said Smith, who moved in July. She receives some government assistance and pays 30% of her income for rent - just $19 a month for an efficiency with a full-market value of $2,000. "Having your own space, you feel like you can do anything.""
A Los Angeles studio built atop a metro station gave a formerly homeless resident safe, affordable housing with direct transit access, enabling job searches without a car and restoring independence. The tenant pays 30% of income in rent — $19 monthly for a unit with a $2,000 market value — while receiving some government assistance. Several metro areas are coordinating with developers to tie new housing to transit, streamline permitting, and promote higher-density units. Building housing near transit is credited with revitalizing neighborhoods, supplying affordable homes, sustaining transit ridership, and lowering greenhouse-gas emissions by reducing car use.
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