LOCUS

Diverse development helps neighborhoods in greater DC and beyond

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Washington, DC’s Yards Park in the Capital Riverfront neighborhood. Photo via Flickr.

Office renters, apartment seekers and shoppers are all vital parts of creating a great, economically resilient neighborhood. What development strategies attract these people? As Christopher B. Leinberger’s new research explains, walkable streets and transit choices are increasingly important in Washington DC and across the country.

Leinberger, President of LOCUS and Research Professor at The George Washington University School of Business, sat down with the Washington Post recently to discuss his most recent research, “The WalkUP Wake-Up Call,” and the future of development in the Washington DC region.

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Michigan legislature proposes improvements to Brownfields TIF program

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The former Michigan Bell and Western Electric Warehouse is being rennovated to become a home for the Neighborhood Service Organization and 155 housing units for homeless individuals. The project is made possible by federal and state historic tax credits, federal brownfields tax credits and a 10-year tax abatement from the City of Detroit. Photo copyright by Michael G. Smith. Used with permission.

New legislation moving through the Michigan State Senate could make it easier for developers to clean up and rebuild on brownfields in the state.

Michigan’s Senate Bill 1210, an amendment to the state’s Brownfield Redevelopment Financing Act (Act 381), is likely to see significant changes this year. If enacted, the bill would promote urban development throughout the state, reduce regulatory requirements, streamline the approval process. Here’s an overview of how.

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Striving for transit-friendly communities in the Puget Sound region

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“Seattle Streetcar,” by Flickr user Sean Marshall.

For those not familiar, they could be forgiven for mistaking the opening speaker at this month’s Transit Financing Workshop in Seattle for an ardent smart growth advocate. And in many ways he is. He just also happens to be the Mayor of Seattle.

Mayor Michael McGinn’s comments about the critical role walkable neighborhoods and transit play in economic development set the stage for a day-long event about transit-oriented development in the Puget Sound region on October 4, 2012. Sponsored by Transportation for America, LOCUS Washington, the Transportation Choices Coalition, ULI Northwest and the Quality Growth Alliance, the event brought together leaders from the business, real estate, advocacy, and government sectors to discuss transit, transit-finance, and how the Seattle region can better position itself for future growth.

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Smart Growth Stories: Building a solid foundation for the future of Detroit

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Detroit is changing. The popular story of the last half-decade has largely revolved around the economic fallout of the troubled automobile industry, interspersed with tales of population drain and abandonment. Based on this narrative, it might be easy to dismiss Detroit, to write the city off as a once-great but now-fallen metropolis of yesterday.

Easy, that is, unless you’ve been following the news. A New York Times article from a year ago picked up on the massive influx of young, educated people even in the face of massive out-migration, while a Forbes article from July of this year highlighted the development in downtown Detroit, largely centered around Woodward Avenue, the spine of the downtown area.

These news stories are beginning to touch upon what people familiar with the new movement in Detroit already know: Detroit is rebuilding. But this time, developers and investors are taking a different tack, focusing on downtown, mixed-use, and transit-oriented development strategies, shifting the city away from the large manufacturing development that has characterized Detroit for so long.

Bedrock Real Estate is at the forefront of this new strategy. “We’re going to continue to fill up Detroit, downtown Detroit. There’s no longer this need for manufacturing plants. You don’t need these big, huge buildings anymore,” says Jim Ketai, Managing Partner of Bedrock and member of the Steering Committee for LOCUS: Responsible Real Estate Developers and Investors. “So we are recreating Detroit. It’ll be a new Detroit, something different than what Detroit once was.”

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Smart Growth Stories: Emerick Corsi on driving growth with transit

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Many people recognize Forest City Enterprises as one of the biggest real estate companies in the nation, with a multi-billion dollar portfolio that spans coast to coast and a spot on the New York Stock Exchange.

What’s less well known is that Forest City also happens to be one of the biggest advocates of walkable neighborhoods with transportation choices. Real Estate Services President Emerick Corsi is a firm believer in the power of transit to drive economic growth in surrounding areas, and the company is actively pursuing this kind of development. As a member of LOCUS, Forest City understands the impact of transit-oriented development on local economic growth and job creation.

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Smart Growth Stories: More choice for less cost in Washington state

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“We cannot continue as we did in the 50s and 60s and 70s to sprawl out,” says John Hempelmann, one of the founding partners of Seattle-based law firm Cairncross & Hempelmann. “We need real economic opportunity for the development community building in the cities and building close to the transit hubs.”

Founded in 1987, Cairncross & Hempelmann is located in Seattle’s historic Pioneer Square District, highlighting its investment in maintaining the city’s distinct character. John Hempelmann is also a member of LOCUS, Smart Growth America’s coalition of real estate developers and investors committed to creating livable, economically vibrant places.

As a lawyer who represents real estate developers, Hempelmann keenly follows market trends in his hometown of Seattle. By helping developers build walkable neighborhoods, Hempelmann is giving consumers more options, allowing them to choose for themselves what kind of development they’d prefer.

“We are now providing an urban walkable option and we’re finding that a lot of people are opting for that choice,” he says. “It allows you to reduce transportation costs and allows you to spend more on housing so there’s an economic value to both the buyer and the seller.”

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New research highlights rising demand for homes and businesses in walkable neighborhoods

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A new report from The George Washington University’s Center for Real Estate and Urban Analysis, in partnership with LOCUS: Responsible Real Estate Developers and Investors and ULI Washington, reveals how walkable urban places and projects will drive tomorrow’s real estate industry and the U.S. economy, and outlines what actions are needed to take advantage of these market trends.

The report was released at an event yesterday in Washington, DC. Governor Parris Glendening, President of Smart Growth America’s Leadership Institute, gave the kickoff keynote of the day-long event. Glendening discussed the megatrends shaping the real estate market today, including changing demographics, new demand among consumers and emerging economic factors. These trends are all influencing the real estate market, Glendening explained, and are shaping how developers think about the built environment and economic development.

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Smart growth stories: Michael Lander on changing markets and transit-oriented development in Minnesota

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To give people the kind of in-demand housing they want near jobs, shops and schools, America needs to invest in a diversity of transportation options and make it easier to build transit-oriented development, says Michael Lander of the Lander Group, an urban development firm based in Minneapolis, MN.

Helping meet that pent up demand won’t just be good for Lander’s bottom line, but will also enhance the quality of life for prospective residents in these new transportation-rich neighborhoods.

“High-density development really doesn’t work relying totally on single occupancy vehicles, so creating new transportation options and other ways to move around is critical to creating good urban places,” Lander says, adding that, “Our urban residents are looking for green spaces, certainly, open space, transportation connections, [and] ways to move around in their life to work and to services without using their car.”

With the successful opening of the Hiawatha light rail line last year, which connected downtown Minneapolis with the airport, as well as the nearly completed Central Corridor line between Minneapolis and St. Paul, Lander says there is a real opportunity in Minnesota to reap the benefits of transit-oriented development. And when that development takes root, many more local businesses and property owners will benefit from added sales and a greater “sense of place.”

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Value capture, the Dulles Rail Extension, and the future of transit funding

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Map: The Transport Politic

Reposted from DC Streetsblog.

The failure of Atlanta’s transportation ballot measure late last month led to speculation among many analysts about what the vote meant for other regions across the country looking for ways to fund infrastructure projects. But though the Atlanta vote captured the lion’s share of media attention, another vote cast in July could hold as much – if not more – importance in coming years.

In an increasingly contentious political environment, it can be difficult to get important transportation projects off the ground. Finding funding sources for these projects, no matter how valuable they might be, can prove politically impossible, with many people skeptical over both increased spending and revenue creation sources. Gas taxes are almost entirely a non-starter, and despite the fact that 79 percent of transportation ballot measures overall passed in 2011, according to the Center for Transit Excellence, they can still fall victim to the kinds of pressures seen in the metro Atlanta area.

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Smart Growth Stories: Point C’s David Grannis on creating vibrant neighborhoods in downtown Los Angeles

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The right development can strengthen the economy of a neighborhood, a city or even an entire region. Places with housing and transportation choices are increasingly popular, and can benefit municipal budgets as well. Too often, however, this type of development is blocked by restrictive zoning guidelines or other regulatory policies, which stand in the way of fiscally responsible development – and market demand.

This is why real estate developers have joined together with Smart Growth America to create LOCUS: Responsible Real Estate Developers and Investors. LOCUS advocates for state and federal policies that help cities and communities get what they want from their spaces, while also investing ways that will remain viable for the future.

It is this shared vision for future development that drives people like David Grannis. Grannis is a managing partner of Point C, a strategic consulting group that focuses on land use and transportation and LOCUS member.

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