BART is a failure as a transportation company. It is almost $100 million in deficit and growing. Yet, instead of fixing its core business—they have decided to become developers and speculators—with your tax dollars. As the ridership decreases, population flees, these folks are trying to build slum housing, hoping those people will be so poor they are forced to risk being crime and disease victims and use their trains.
“Several high-density mixed-use developments in BART’s pipeline could go up on the transit agency’s property in the coming years thanks to a new infusion of state funding approved earlier this month.
BART received more than $3.5 million from Gov. Gavin Newsom to help build affordable housing projects on its land to address the state’s housing shortage and climate goals. Part of the Regional Early Action Planning grants program, the funding builds upon a $125 million grant awarded in 2019 to eligible regional governments and other entities.
BART will use the money to continue funding transit-oriented development, which aims to build the agency’s ridership base while supporting local economic development efforts.ubtitles Off
The agency, which owns more than 250 acres of developable land at 27 stations across four counties, previously set a goal to build 20,000 homes — with 35% being priced as affordable — and 4.5 million square feet of commercial space on its property by 2040.
In other words, a government agency wants to use tax dollars to go into competition from free market developers…this is called Socialism.
BART’s mixed-use development projects get boost from state
By James Salazar, SF Examiner, 7/11/23 https://www.sfexaminer.com/news/transit/barts-mixed-use-development-projects-get-boost-from-state/article_b15799cc-1f7c-11ee-aa05-23823a4f1df4.html
Several high-density mixed-use developments in BART’s pipeline could go up on the transit agency’s property in the coming years thanks to a new infusion of state funding approved earlier this month.
BART received more than $3.5 million from Gov. Gavin Newsom to help build affordable housing projects on its land to address the state’s housing shortage and climate goals. Part of the Regional Early Action Planning grants program, the funding builds upon a $125 million grant awarded in 2019 to eligible regional governments and other entities.
BART will use the money to continue funding transit-oriented development, which aims to build the agency’s ridership base while supporting local economic development efforts.ubtitles Off
en State Warriors vs. Houston Rockets – Game Highlights
Watch the Game Highlights from Golden State Warriors vs. Houston Rockets, 07/13/2023
The agency, which owns more than 250 acres of developable land at 27 stations across four counties, previously set a goal to build 20,000 homes — with 35% being priced as affordable — and 4.5 million square feet of commercial space on its property by 2040.
There are currently six projects in the planned or pre-development phase.
In a statement, Gustavo Velasquez, the director of the California Department of Housing & Community Development, said the “grants will make possible the development of significant affordable housing near transit hubs, connecting vulnerable Californians to opportunity and moving the state toward its climate goals by reducing vehicle traffic.”
A BART spokesperson said the agency will use this new round of funding to create a loan program to finance the construction or rehabilitation of affordable housing projects.
