LOCUS

The latest developments, events, and resources from LOCUS:

Rethink Real Estate: All about the New Markets Tax Credit

By ·


The Ely Walker building in St. Louis, MO was redeveloped with the help of the New Markets Tax Credit. Photo by Nick Findley via Flickr.

Earlier this month, Smart Growth America released Federal Involvement in Real Estate, a survey of over 50 federal programs that influence real estate in some way. This post is the first in a series taking a closer look at some of the programs included in that survey. Today’s post looks at the New Markets Tax Credit.

New Markets Tax Credit allows individual and corporate investors to receive a credit against their federal income tax return in exchange for making an investment in a specialized financial institution called a Community Development Entities (CDE). Congress created the credit in 2000 as a way to attract private capital to businesses in economically challenged communities. Authorized under the Community Renewal Tax Relief Act of 2000, the program has appropriated billions of taxpayer dollars to promote investment in these areas that are often overlooked by traditional financing sources.

LOCUS

Roundtable series in six cities this spring will discuss federal real estate issues and their solutions

By ·


LOCUS members at 2012’s Leadership Summit.

LOCUS: Responsible Real Estate Developers and Investors is proud to announce a new series of industry roundtable discussions about improving the federal government’s role in today’s real estate market.

The discussion series will gather leading real estate developers and investors from across the country to address the federal government’s role in real estate, and create solutions to align federal involvement in real estate to better support walkable development across America.

LOCUS

Greater Ohio, ULI and LOCUS host speaking series on walkable urbanism in Ohio

By ·

Cleveland developer Ari Maron discusses his projects. Source: Smart Growth America.

The following post has been republished from our partners at the Greater Ohio Policy Center.

In Ohio and around the country, real estate developers and investors are recognizing pent-up demand for and a market shift toward sustainable, walkable urban places. Despite this paradigm shift and change in market momentum, many local, state and federal policies currently in place distort development incentives and hamper efforts to create the development consumers want and that support strong local economies. Urban developers and real estate and land use experts can align to provide state and national policy makers with expert advice on current consumer demand and the many benefits of urban and metropolitan growth strategies.

Over the past few days—January 16th and 17th—Greater Ohio traveled to Cincinnati, Columbus and Cleveland to co-host events with the Urban Land Institute district councils of Cincinnati, Cleveland and Columbus, as well as LOCUS to host “Advancing Ohio’s Urban Agenda: Walkable Communities for Globally Competitive Cities,” an exclusive series featuring Christopher Leinberger, President of LOCUS—a national network of real estate developers and investors that advocates for sustainable, walkable urban development in America’s metropolitan areas.

Local Leaders Council LOCUS

Introducing LOCUS state chapters

By ·

LOCUS is proud to formally announce that we are expanding our efforts to six key regions across the country with LOCUS state chapters. LOCUS state chapters, working closely with LOCUS members in these states, will complement and enhance our ongoing national work to promote walkable development through education, advocacy, and technical assistance.

We have already begun work in the chapters states of Alabama, California, Georgia, Michigan, Minnesota and Washington. Thank you to the LOCUS members and allies who have met with us in these states thus far.

LOCUS members are invited and encouraged to join the work of these state chapters. If you are not yet a LOCUS member and are interested in joining, submit a membership application today.

LOCUS

Exploring the economic benefits of walkable, sustainable development along the Keystone Corridor with PennDOT

By ·


Coatesville, PA is home to a station on the Amtrak Keystone Line. Photo by the Chester County Planning Commission via Flickr.

The 104-mile long Keystone Rail Line that runs from Philadelphia to Harrisburg, PA, has played a significant role in shaping the towns around its 12 stations. Now, new investments in the line are creating opportunities for development along the corridor.

In 2006, the Pennsylvania Department of Transportation (PennDOT) and Amtrak completed a $145.5 million infrastructure improvement program to increase train frequency and service reliability along the Keystone Corridor. These improvements have the potential to attract new development – and new economic growth – to the areas around stations along the rail line.

LOCUS

Private sector leads the way on new light rail in Detroit

By ·

Architect’s rendering of the M-1 light rail. Image via M-1 RAIL Summer 2012 Project Update.

A group of private sector leaders in Detroit are looking toward a new light rail project to help revive the fortunes of the former car capital.

The group is so confident in the potential of a line, known as the M-1 light rail, they’ve put up nearly $90 million in private funding to make the project a reality. If successful, the group would set a new precedent for the “rail as economic development” paradigm, and provide a new model for cities across the country looking to catalyze smart growth.

The proposed line would run 3.4 miles along Detroit’s Woodward Avenue from the New Center neighborhood to downtown and the riverfront, connecting some of the city’s biggest attractions and job centers. The line would run curbside along Woodward Avenue and provide connections to Detroit’s People Mover and Amtrak station, as well as a planned regional bus rapid transit system.

LOCUS

New EPA report fills in story of housing trends

By ·

The popularity of infill development and walkable neighborhoods continues to grow, according to a new report from the U.S. Environmental Protection Agency (EPA).

Residential Construction Trends in America’s Metropolitan Regions focuses on 209 metropolitan regions between 2000 and 2009 and offers a look at trends in residential infill development, i.e. new homes built in previously developed areas. The main findings during that period:

Nearly three out of four large metropolitan regions saw an increased share of infill housing development during 2005-2009 compared to 2000-2004. Among the 51 large metropolitan regions (population one million or greater) examined in this study, 36 saw an increased share of infill housing development during 2005-2009 compared to 2000-2004. In many regions, this increase was substantial. Miami increased from 40 percent infill to 49 percent infill. Providence, Rhode Island, increased from 20 percent to 29 percent. Several medium-sized metropolitan regions (population 200,000 – one million) saw even greater shifts towards infill housing.

LOCUS

Smart Growth America's Top 12 of 2012: Creating new reports and resources

By ·

Christopher Leinberger, President of LOCUS, presenting new research at George Washington University.

We’re doing a special blog series highlighting some of Smart Growth America’s favorite accomplishments from 2012. This is the third of twelve installments.

In the past year, Smart Growth America has conducted new research and created new resources for our allies in the field.

In March, we released From Vacancy to Vibrancy, a guide to redeveloping underground storage tank sites through area-wide planning. The guide provides an overview of the tools and strategies available to leaders who want to transform vacant properties with hazardous underground storage tanks into economic and community assets, setting the stage for redevelopment and revitalization of brownfields. This guide is a valuable tool for any town or city that is looking to redevelop their vacant brownfields and help their economies and communities thrive.

LOCUS

Business leaders tout new rail line as boost to Twin Cities' economic competitiveness at ULI, LOCUS MN event

By ·


The Hiawatha light rail line in downtown Minneapolis, MN is already popular. Photo by Matt Johnson via Flickr.

Leaders in the Twin Cities know that rail transit will be a key component of the cities’ future economic competitiveness, and they’re eager to catch-up with their regional peers in creating a comprehensive transit network.

Since opening in 2004, the Twin Cities’ only light rail line, the Hiawatha Line, has far ridership exceeded expectations. Construction has already begun on the region’s second line, the Central Corridor Line, which will connect downtown Minneapolis and St. Paul and is expected to be completed in 2014. Now, attention is shifting to the Twin Cities’ southwest corridor, home to large corporate office parks and wide highways, where the planned Southwest Corridor Light Rail Transit line has the potential to not only change how people get around, but also the shape of the region’s future development.

LOCUS

Smart Growth America's top 12 of 2012: Honoring leaders in the field

By ·


From left to right: Managing Director of LOCUS, Christopher Coes; Senator Michael Bennet (D-CO); Senator Mark Warner (D-VA); President of LOCUS, Chris Leinberger; President and CEO of Smart Growth America, Geoff Anderson.

For the next two weeks, we’ll be doing a special blog series highlighting some of Smart Growth America’s favorite accomplishments from 2012. This is the first of twelve that we’ll be rolling out, so keep an eye out for a new one every day!

In February, we presented Smart Growth America’s 2012 Leadership Award to Darrell Steinberg. Steinberg, California State Senate President Pro Tem, received the award for his incredible efforts in championing and helping to pass SB 375, legislation that integrates greenhouse gas reduction goals into California’s existing regional transportation planning process, and encourages planners to locate homes near jobs and create more transportation options. The bill not only fights climate change but also gives towns across the state the power to make land use and transportation decisions that strengthen local economies, reduce sprawl, preserve farmland and spur business development, furthering the cause of smart growth in California and setting an example for states across the nation.

LOCUS
  • …
  • …