In a groundbreaking move, Los Angeles is witnessing a paradigm shift in urban development with the advent of ED-1. This transformative initiative not only streamlines the development process but introduces four pivotal features that redefine the possibilities for developers. Let’s delve into the four key pillars of ED-1 innovation.
- Unlimited Density: Redefining Urban Horizons
At the heart of ED-1 lies a revolutionary departure from conventional density restrictions. Developers now have the freedom to explore unlimited density, unleashing unprecedented possibilities for high-density projects. This visionary approach fosters creativity and innovation, setting the stage for a new era in dynamic and sustainable urban living.
- Zero Parking Requirements: Embracing the Future of Transportation
ED-1 takes a bold step into the future by eliminating parking requirements. This forward-thinking move aligns with the evolving trends in transportation, recognizing the rise of alternative modes such as ridesharing and public transit. The absence of parking requirements not only reduces construction costs but also supports the creation of more sustainable and efficient urban spaces.
- Height Increase: Reaching New Heights in Urban Design
ED-1 introduces a significant enhancement to vertical possibilities with a 33-foot height increase and a 3-story expansion allowance. This architectural freedom empowers developers to redefine the city’s skyline, encouraging innovative and aesthetically striking projects that make the most of available space.
4a. On-Menu Incentives: Precision Tailoring for Development Goals
ED-1 provides developers with on-menu incentives, offering a menu of strategic options to align projects with specific objectives. For example, developers can opt for a 35% increase in Floor Area Ratio (FAR), enhancing the project’s scale and impact while adhering to city standards.
4b. Off-Menu Incentives: Tailored Solutions Beyond the Standard
Beyond the on-menu incentives, ED-1 opens the door to off-menu incentives—allowing developers to negotiate terms that go beyond the standard offerings in LA. This flexibility provides a bespoke approach, enabling developers to tailor incentives to the unique needs of their projects. This could include a more substantial increase in FAR or other custom benefits not found on the city’s standard incentive menu.
ED-1 isn’t merely a set of guidelines; it’s a catalyst for innovation and flexibility in Los Angeles development. With unlimited density, zero parking requirements, enhanced height possibilities, and a dual offering of on and off-menu incentives, ED-1 empowers developers to shape the future of urban living. As the cityscape evolves, embracing initiatives like ED-1 becomes not just advantageous but essential for creating sustainable, vibrant, and innovative communities at the heart of Los Angeles. The future of development is now, and it’s redefined by the four pillars of ED-1 innovation.