Helping to Build New Housing Near a Transit Hub
We represented a public agency in negotiating a long-term ground lease with a developer so new housing can be constructed near a transit hub.
The 65-year ground lease option agreement will allow the developer to acquire two parcels of real estate on seven acres for transit-oriented development. As part of the agreement, the developer is obligated to construct 135 units of market rate housing and certain parking improvements. The buildings are also required to include commercial space to benefit transit users and residential occupants alike.