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Project Updates

The Taylor Yard Joint Development sites are at different phases of development. Below are the latest updates.

Awaiting Construction

  • Lot 2B: During the 2nd quarter of 2019, McCormack Baron Salazar, the developer of Lot 2B, submitted an application for an allocation of tax credits for the project to the State. Tax credits are a key financing source for affordable housing projects. The developer expects to hear back from the State in September 2019 regarding their request. This lot is not yet under ground lease. Execution of a ground lease and commencement of construction should occur prior to the end of the first quarter of 2020, once design review is complete and project financing is secured.
  • Lot 9: This lot is under ground lease to Taylor Yard Commercial, LLC, a McCormack Baron Salazar development entity. In March 2019, the Metro Board authorized an amendment the ground lease, which, among other things, contemplated changing Lot 9’s scope of development from a 16,690 square foot retail project to an approximately 56 unit affordable housing project. Following the March 2019 Board meeting, staff received numerous comments from the community that were critical of the proposed change in development scope and Metro’s lack of community outreach prior to the Metro Board’s action. After consideration of the community’s concerns and other input received from the area’s elected representatives, staff has elected not to move forward with the ground lease amendment. Instead, Metro and the developer will conduct community outreach to help determine the proper development scope for Lot 9. This effort will start in the third quarter of 2019 with an analysis and evaluation of the viability of retail use at the site.

Completed

  • Lot 1: This project is complete and occupied. The lot is under ground lease to Rio Visa Apts, L.P., a McCormack Baron Salazar development entity.
  • Lot 2A: This project is complete and all condominiums have been sold by the developer, LA Urban Homes. The lot is under ground lease to TY Taylor 55 Owners Association, this project’s homeowner’s association.
  • Lot 3: This project is complete and occupied. The lot is under ground lease to Taylor Yard, L.P., a McCormack Baron Salazar development entity.
  • Lot 4: This project is complete and all condominiums have been sold by the developer, LA Urban Homes. The lot is under ground lease to TY Taylor 41 Owners Association, this project’s homeowner’s association.
  • Lot 5: This project is complete and its apartments are occupied, but the retail component is still available for lease. Parties interested in the retail space should contact Daniel Falcon, Jr. at 213.236.2680 or at Daniel.Falcon@McCormackBaron.com . The lot is under ground lease to Taylor Yard Senior Housing, L.P., a McCormack Baron Salazar development entity
  • Lots 6-8: Infrastructure and open space improvements are complete, except for one park area being used for construction staging. The lots are under ground lease to Taylor Yard Master Association.
  • Dedication Area: The dedications, roadway, and infrastructure improvements in this area are complete.