TOD

Senate transportation bill expands financing for transit-oriented development

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Senators Schatz, Markey and Merkley champion provision to support investment in neighborhoods near transit

The Senate passed its final six-year transportation reauthorization bill today, and included in the bill is a provision to expand the eligibility of transit-oriented development (TOD) projects for federal TIFIA financing. The provision would also expand financing for infrastructure projects that promote transit ridership, walkability, or increased private investment.

“If you took a bus or train to work today, you know how convenient it is to live and work near a transit stop,” said Christopher Coes, Director of LOCUS. “Transit-oriented development makes day-to-day life easier for millions of Americans. It’s also the backbone of regional economies across the country. The Senate’s bill will make creating new TOD projects easier, and will give more Americans the option to live and work near transit while also supporting economic growth nationwide.”

LOCUS

Complete Streets, TOD, and TIGER all included in Senate Commerce Committee’s transportation bill

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Yesterday the Senate Committee on Commerce, Science, and Transportation approved its six-year transportation bill, the Comprehensive Transportation and Consumer Protection Act of 2015 (S. 1732).

The bill includes dozens of transportation provisions, but we were watching three in particular: the Railroad Reform, Enhancement, and Efficiency Act (S. 1626) and the Safe Streets amendment, both of which we hoped to see included, and a proposal to narrow the scope of the U.S. Department of Transportation’s TIGER grants, which we hoped would be cut.

Complete Streets LOCUS

Senate committee votes "yes" on financing for transit-oriented development

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Today, the Senate Committee on Commerce, Science, and Transportation unanimously approved the Railroad Reform, Enhancement, and Efficiency Act (S. 1626). The bill expands the capabilities of the Railroad Rehabilitation and Improvement Financing (RRIF), a $30 billion loan program to provide needed financing for transit-oriented development infrastructure and development projects near passenger rail stations.

LOCUS

Transit-oriented development financing included in senate transportation reauthorization bill

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Today, the Senate Environment & Public Works Committee unanimously approved its six-year, $275 billion transportation reauthorization bill, the Developing a Reliable and Innovative Vision for the Economy (DRIVE) Act. LOCUS Director Christopher Coes made the following statement: “The Senate took an important first step towards passing vital transportation and infrastructure legislation that will increase private … Continued

LOCUS

A new bill in Congress would create new financing option for transit-oriented development

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Transit-oriented development (TOD) can make it easier for people to live and work near public transportation. These places are in high demand and real estate developers are eager to build them, but because they’re often complicated TOD projects can be difficult to secure financing for.

LOCUS

Real estate developers connect with local leaders and new opportunities at LOCUS LinkUp in Boston

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warwick-ibcWarwick, RI’s Intermodal Business Center was one of the new projects discussed at last month’s LOCUS LinkUp. Photo via City Center Warwick.

On November 20, 2014, real estate developers and local leaders came together at a LOCUS LinkUp to discuss new opportunities for building walkable neighborhoods in the greater Boston area.

LOCUS President Christopher Leinberger framed the day’s discussion with a preview of forthcoming research part of The WalkUp Wake Up Call: Boston, which will take an in-depth look at where future development will likely occur in the region. Boston is already home to some of the country’s most walkable places—LinkUp attendees got a sneak peak of how that trend will bear out in coming years.

Local Leaders Council LOCUS

FTA voices its formal support for joint development

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Joint developmentTriMet’s joint development program in Portland, OR, helped build the Patton Apartments (above) on land once occupied by the Crown Motel. Photo via SERA Architects.

Developing land owned by transit agencies boosts ridership and supports local economies. So how come more agencies don’t do it?

New guidelines from the Federal Transit Administration (FTA) encourage transit agencies to do just that. In guidance issued on August 25, 2014, the FTA came out in support of joint development—cooperation between local transit agencies and real estate developers to make the most of agency-owned land. The new guidance is the first time the FTA has publicly recognized the multiple benefits of such cooperation, which include increased ridership, better transit access for the community, greater revenue for the transit agency, and broader economic development. From the document:

LOCUS

LOCUS Applauds Inclusion of TOD Financing in Draft Senate Transportation Bill

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Yesterday, Senate EPW Chairman Barbara Boxer (CA) and Ranking Member David Vitter (LA) released a draft bipartisan six-year, transportation reauthorization.

For the first time, the bill includes a transit-oriented development (TOD) financing provision that LOCUS has strongly supported. As proposed, the TOD financing provisions provide local communities the tools needed to leverage greater private sector investment and economic development around public transportation through the highly successful TIFIA program.

LOCUS

Smart Growth America statement on new Senate transportation reauthorization bill

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Yesterday, the Senate Environment & Public Works Committee released the MAP-21 Reauthorization Act (S. 2322), a bipartisan bill that reauthorizes the Federal transportation program through 2020. Geoff Anderson, President & CEO of Smart Growth America, issued the following statement in response.

“I applaud Senator Boxer and Senator Vitter for advancing this bill to provide immediate and stable funding for America’s transportation networks. How we build our nation’s infrastructure has tremendous implications for neighborhood development and the economic resilience of our communities. The proposed bill includes provisions that will help local communities grow in smarter, stronger ways.

“We strongly applaud the inclusion of a provision to provide financing support to help communities create economic development along transit corridors. We are thankful for the strong leadership demonstrated by Sen. Schatz (HI), as well as Sens. Markey (MA), Gillibrand (NY), and Merkley (OR) in highlighting the growing need to support reinvestment in our communities. This measure will allow communities to better realize the potential of their transit systems, grow their economies, provide families with more housing and transportation choices while giving both the private and public sectors the financial tools to help make it happen. We are also pleased that the bill takes key steps to improve safety for all users of the transportation system, specifically adding safety performance measures for both motorized and non-motorized travelers.

Uncategorized

West Baltimore, MD hosts workshop on preparing for the Red Line and future transit-oriented development

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harlem-parkWest Baltimore could see a lot of changes with the proposed Red Line stations. Harlem Park station model via baltimoreredline.com

A new transit line is slated to be built in West Baltimore, MD, and on March 15, 2014 Smart Growth America met with West Baltimore leaders to discuss how the community can make the most of this new neighborhood asset.

The March 15 workshop was designed to help West Baltimore plan for better development around several proposed Red Line stations. At the meeting public officials presented on programs targeted to address the existing challenges residents see in the neighborhood. Much of the discussion centered on how to attract development to the corridor in conjunction with the planned Red Line stations, as well as how to ensure that development is equitable, and serves the neighborhood’s current residents as well as the community’s broader needs.

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