It is with excitement that Neighborhood Housing Services of Los Angeles County releases its White Paper on Transit Oriented Development and Affordable Communities.
The Los Angeles region faces a housing affordability crisis. A report issued last year by the Joint Center for Housing Studies at Harvard University found Los Angeles to be the least affordable housing market in the country. Meanwhile Los Angeles' homeownership rate languished at 35.9% in 2013, lower than it was in 2000 and one of the lowest rates among major American cities.
Transit-Oriented Development (TOD) offers a potential tool to ease this affordability crisis, as transit corridors throughout Los Angeles County are developed. The white paper examines both the opportunities and the risks of TOD in its relationship to employment and housing. The report highlights the need for economic development and good jobs along transit corridors, as well as the risks that TOD presents for residents with low incomes and high-rent burdens. Finally, the report offers a series of policy options to ensure that the opportunity to serve some of LA's most underserved neighborhoods is not missed.
We welcome your comments and feedback. We are excited about the opportunity for further dialogue and transformative work in the months ahead. Click here to read the full report
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Meet New Client: Griselda Ortiz
Griselda Ortiz and her mother, Celestina, had been living comfortably in their home for over 20 years. But slowly things started breaking down. The roof needed fixing and was creaking. "I was scared the house was going to fall down on my head!" Griselda said.
Griselda went to get an assessment of how much repairs would cost, and was told it would be about $12,000. "I didn't know where I could get the money," she said, fearing that she would have to leave the house that they had called home for two decades. Griselda fought to keep her home during the Recession, working hard for a loan modification to stay in her home during rocky times. So she wasn't going to give up easily. After scouring the internet for programs that could help her, she came across NHS. Working with Maria, Ron, Rosa & Juan (shown above) from NHS' lending team, Griselda was able to secure a home rehab loan with low interest and a small monthly payment.
"I got quick feedback and immediate responses," Griselda remarked. "And I'm grateful to be able keep my home."