market-rate housing

In its concept plan, Centennial Partners outlined an overarching vision for its proposal to remake the 19-story hospitaland its adjoining 41.9-acre campus into a mixed-use neighborhood of affordable, workforce and market-rate housing, retail stores, health services, open space and connections to public transit.

And because most market-rate housing developments now include some income-restricted affordable apartments provided by developers in exchange for increased project size, Los Angeles is getting fewer of those, too.

But the region needs more than just high-cost market-rate housing to address the shortage.

But these projects are expensive and don’t necessarily make as much money as market-rate housing once built.

Gregory Davis, the managing strategist at the Rainier Beach Action Coalition and the neighborhood’s unofficial mayor, said his organization has challenged developers of rent-capped and market-rate housing to incorporate local needs, hopes and dreams into their plans and to provide street-level spaces for community-focused businesses and organizations.