Last week, the BART Board of Directors voted to advance a plan to develop hundreds of new homes near the Lake Merritt BART station, a proposal that’s been in the works for years and continues the agency’s foray into transit-adjacent housing on potentially choice plots of land it owns throughout the Bay Area.
Technically, the motion at the board’s September 13 meeting (which passed unanimously) only authorizes negotiations with potential developers, a process that could take up to two years.
A press statement from BART provides some additional details:
The Board voted to authorize BART staff to enter into an exclusive negotiating agreement with a joint venture of East Bay Asian Local Development Corporation (EBALDC) and Strada Investment Group with a goal of creating a transit-oriented development (TOD) above the BART station.
The plan proposed by the EBALDC/Strada joint venture calls for four new buildings on BART-owned lots above the station. The proposal features 519 units of housing, 44 percent of which would be affordable, and 517,000 square feet of commercial space for offices and shops.
BART staff singled out EBALDC as the developer of choice but retains the option to negotiate with SF-based Strada if those talks fall through.