Overview
A recent study report (R-102, Transit-Oriented Development in the United States: Experiences, Challenges, and Prospects) published by the Transit Cooperative Research Project (TCRP) defines transit-oriented development (TOD) as compact, mixed-use development near transit facilities and high-quality walking environments. The TCRP study concludes that the typical TOD leverages transit infrastructure to promote economic development and smart growth, and to cater to shifting market demands and lifestyle preferences. TOD is about creating sustainable communities where people of all ages and incomes have transportation and housing choices, increasing location efficiency where people can walk, bike and take transit. In addition, TOD boosts transit ridership and reduce automobile congestion, providing value for both the public and private sectors, while creating a sense of community and place.
The same TCRP study defines joint development as a form of transit-oriented development that is often project specific, taking place on, above, or adjacent to transit agency property. It involves the common use of property for transit and non-transit purposes. Proximity to rail transit has been shown to enhance property values and can increase the opportunity for fostering community and development partnerships.
According to the TCRP study, the most common joint development arrangements are ground leases and operation-cost sharing. Most often, joint development occurs at rail stations surrounded by a mix of office, commercial, and institutional land uses. However, examples of public-private joint ventures can be found among bus-only systems as well, normally in the form of joint intermodal transfer and commercial-retail space at central-city bus terminals.
Benefits
According to the TCRP study, the potential benefits of TOD and joint development are social, environmental, and fiscal. Focusing growth around transit stations capitalizes on expensive public investments in transit by producing local and regional benefits. The most direct benefit of TOD and joint development is increased ridership and the associated revenue gains. Other primary benefits include the vitalization of neighborhoods, financial gains for joint development opportunities, increases in the supply of affordable housing, and profits to those who own land and businesses near transit stops. Secondary benefits include congestion relief, land conservation, reduced outlays for roads, and improved safety for pedestrians and cyclists.
Other Reports
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The Ohlone/Chynoweth light rail transit station in San Jose, CA provides access for nearby residents. For more information, go to http://www.vta.org/.
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