Strategic development of retail spaces and residential units near transit corridors has and will continue to be a central focus of Urban One’s development portfolio. California and Los Angeles’ residential, commercial, and retail districts are increasingly surrounded by congested freeways and roadways, and we believe alternative transportation opportunities offer innovative, sustainable, and efficient transit solutions to urban congestion. These solutions must connect housing, retail, employment, and industrial clusters together to foster exciting and innovative urban environments that support a broad mixture of uses.
While current market economics have made transit oriented developments more challenging to pencil, long-term economic and demographic trends indicate transit accessibility will become increasingly important as cities across the world increase in density. Recognizing this, Urban One is committed to pursuing projects and real estate investments that encourage pedestrian activities, biking, use of public transportation, and everything in-between.
A core component of Urban One’s transit efforts are led by Dennis Allen, who serves as the Executive Director of Los Angeles Streetcar Inc (LASI). LASI is a non-profit public/private joint-venture dedicated to building a streetcar in Downtown Los Angeles by 2014. LASI is currently in the financing and planning stages of development, and when complete, the streetcar will connect several entertainment, retail, and residential districts of Downtown Los Angeles. LASI enjoys a broad range of support, and is actively championed by many political, business, and residential organizations. More information can be found at: www.lastreetcar.org.