In a recent move to address the city's affordable housing crunch, the Santa Monica City Council has given the green light for the next phase of development on multiple city-owned sites, as detailed in an article on the city's official blog. The sites are earmarked for the construction of nearly 2,000 affordable homes, a pivotal step in Santa Monica's comprehensive Housing Element plan.
The city's strategy unfolds with two out of five key locations entering the pre-development stage, pushing forward the efforts to build affordable homes at Bergamot Station Arts Center and a downtown cluster collectively referred to as 4th/5th/Arizona, additionally, Parking Structure 1 has been roped into the conversation due to an impending $14 million seismic retrofit necessity slated for October 2027 that could align well with affordable housing goals all while maximizing potential revenue generation and offering community benefits. In the city's Tuesday session, the council prioritized these projects and instructed a swifter action plan to release Notices of Availability, or NOAs, this year.
The Bergamot Station Arts Center plot is centrally planned for 707 affordable apartments on its five-acre footprint, currently housing 30 galleries and a restaurant, while the 4th/5th/Arizona site, consisting of properties leased to Bank of America and Chase Bank, will be repurposed for 331 affordable apartments after bank leases expire in 2026, which currently contribute $2.5 million annually to the city’s General Fund.
According to council approval, surplus land declarations for Bergamot Station Arts Center, 4th/5th/Arizona, and Parking Structure 1 have been initiated, with the downtown properties expedited for NOAs by June 30 to comply with Housing Element timelines, and Bergamot Station's NOA to follow subject to staff capacity allowances, proposals are to maximize both affordable housing and revenue-generating opportunities, with additional consideration for current Bergamot tenants, ensuring spaces for commercial arts-serving purposes and facilitating preferences for their Right of Return. After the NOA phase, the city enters a 90-day negotiation period with developers, potentially bypassing a regular RFP process if a suitable deal is struck, ticking the requirements of the Housing Element off the list.
For further information on the specifics of the Santa Monica City Council's decision and development plans, interested parties and residents can refer to the complete staff report available through the city of Santa Monica's blog post.
