While cities and developers have recognized the value of transit oriented development for quite some time, the advantages of proximity to and amenities building on active lifestyles and transportation are just beginning to emerge. Active Transportation and Real Estate: The Next Frontier, a new report from the Urban Land Institute, looks at the rise of residential, office, and mixed-use developments built around active transportation infrastructure and amenities.
economic development
The Business Case for Investment in Public Transportation (APTA, 2016)
While transit has principally been considered the realm of the public-sector, new technologies, service providers, and investment models are building the case for private investment in public transportation. The American Public Transportation Association presents a new report that shows the various ways that private investment is becoming more common in public transportation.
Virginia adopts multimodal, competitive project scoring process
Last year Virginia enacted legislation to select state-supported transportation projects through a multimodal, competitive process. The law prescribed five areas to be considered in the scoring, along with project cost: congestion mitigation, economic development, accessibility, safety, environmental quality and land use. The relative weights of those elements, and details of how to assess project benefits in those categories, were left to the rulemaking process, which concluded June 17.
Can BRT drive TOD? Yes, with the right government support
Conventional wisdom asserts that rail does a better job of spurring transit-oriented development than a bus rapid transit line, but until now no one has quantified the return on investment with a BRT line. A new study released by ITDP this week attempts to quantify the TOD potential of these transit options and find that, “Per dollar of transit investment, and under similar conditions, Bus Rapid Transit leverages more transit-oriented development investment than Light Rail Transit or streetcars.”
A new future for downtown Rochester: Removing the Inner Loop highway
After several unsuccessful TIGER applications, Rochester, NY underutilized urban Inner Loop, built in the 1960s, received 17.7 million dollars to facilitate the removal of the expressway and frontage roads and reconstruction as a parkway. A road once disparaged by the city itself as a “noose around the neck of downtown,” has been two decades in planning and will give way to a boulevard that will reconnect the city street grid, improve the business environment, and improve livability for Rochester’s residents.
Aligning Strategies to Maximize Impact: Case Studies on Transportation and Economic Development (National Association of Development Organizations, 2012)
Ten case studies from 11 states document how the fields of transportation and economic development can complement each other and create an environment for increased collaboration and aligning of resources.
Parking management – an unlikely economic development tool
During the era of interstate highway construction, and the resulting demographic shift from city to suburb, municipalities worked to provide auto access to their downtowns, hoping this access would support economic growth. However, mounting evidence shows that this came at the expense of the very economic vibrancy cities sought and does not help reduce roadway congestion. Costs associated with accommodating cars, particularly for parking, are outweighed by the long-term economic costs.
Light rail systems can raise nearby property values before completion even in low density areas
A new study of the property values along a light-rail line in Charlotte, NC, shows that property values can be affected even before the transit line is built, despite the area’s relatively low-density.
Federal Resources for Sustainable Rural Communities (Partnership for Sustainable Communities and USDA, 2012)
This guide to HUD, DOT, EPA, and USDA programs highlights federal resources rural communities can use to promote economic competitiveness, protect healthy environments, and enhance quality of life. It provides key information on funding and technical assistance opportunities available from the four agencies, as well as examples of how rural communities across the country have put these programs into action.
Bus Rapid Transit: Projects Improve Transit Service and Can Contribute to Economic Development (GAO, 2012)
GAO was asked to examine (1) features included in BRT projects funded by the FTA; (2) BRT project performance in terms of ridership and service and how they compare to rail transit projects; (3) how BRT-projects’ costs differ from rail transit …