Meeting_Body
EXECUTIVE MANAGEMENT COMMITTEE
JANUARY 15, 2026
Subject
SUBJECT: UPDATE ON LANDMARK UNSOLICITED PROPOSAL FOR METRO WORKFORCE HOUSING
Action
ACTION: APPROVE RECOMMENDATION
Heading
RECOMMENDATION
Title
AUTHORIZING the Chief Executive Officer (CEO) or their designee to enter into an Exclusive Negotiation Agreement (ENA) with Treehouse Leimert PropCo LLC to negotiate key terms and conditions for a period of six months with an option for an additional six-month extension.
Issue
ISSUE
At its July 2025 meeting, the Board authorized the CEO to proceed with the Supplementary Review (Phase Two) evaluation of the Landmark Unsolicited Proposal to develop Metro Workforce Housing in the vicinity of the Leimert Park K Line Station.
This Board Report provides a progress update on the Unsolicited Proposal evaluation and, based on technical findings, recommends Metro enter into an Exclusive Negotiation Agreement in order to further test viability of the project.
Background
BACKGROUND
At its April 2023 meeting, the Board approved an amendment by Director Solis requesting staff report back on opportunities to designate new housing units for Metro workforce housing by the Metro joint development program or other appropriate mechanisms.
On June 6, 2025 Metro received an unsolicited proposal from Treehouse Leimert PropCo LLC titled The Nathaniel Metro Workforce Housing Project. The initial proposal requested an investment of $25 million from Metro in exchange for up to 80 units, located less than 500 feet from the Leimert Park K Line Station, reserved primarily for Metro employees. Staff recommended requesting detailed technical and financial information from the Proposer to fully understand and evaluate the proposal, known as the "Supplementary Review" phase in the Unsolicited Proposal Policy.
In July 2025, the Board approved advancing the unsolicited proposal to a Supplementary Review. The Proposer worked with staff to provide additional documenta...
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