July 22, 2024 Breaking News, Latest News, and Videos

341-Unit Development Proposal Selected for Venice Metro Yard

The Project Offers 5,400 Square Feet for Venice Arts to Host a Café, Classes, and Exhibits, and 30,000 Square Feet of Commercial Space

Metro has chosen a development team for the Division 6 property on Main Street in Venice, marking a significant milestone in a project that has been in the works since 2016.

On Thursday, Metro announced its selection of the Metro Venice Art Collective’s proposal, “Metro on Main”, as announced in Councilwoman Traci Park’s newsletter. The recommendation, detailed in a report to the Metro Board’s Planning and Programming Committee, suggests entering an exclusive negotiating agreement with Metro Venice Art Collective, LLC, owned by Pinyon Group, according to Urbanize LA.

The proposed development at 100 Sunset Avenue includes 341 residential units, with 86 designated as affordable housing for households earning up to 80% of the area median income, according to Urbanize LA. The plan features 12,900 square feet of public open space, a pedestrian crossing for beach access, and integration of the existing Vietnam War Memorial.

Additionally, the project offers 5,400 square feet for Venice Arts to host a café, classes, and exhibits, and 30,000 square feet of commercial space prioritizing local businesses. A subterranean parking garage will serve residents, commercial tenants, and beach visitors, according to Urbanize LA.

Community outreach has indicated that the project team includes the AFL-CIO Housing Investment Trust, Steinberg Hart, Marmol Radziner, and Gehl. The estimated cost of the development is $315.8 million, divided between $130.2 million in equity and $185.6 million from AFL-CIO, according to Urbanize LA.

The three-acre Division 6 site, once the Pacific Electric railway’s Ocean Park Car House and later a bus maintenance yard, was closed by Metro in 2016, paving the way for its redevelopment.

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