Value capture, gentrification, and building affordable housing around transit were among the many topics on the agenda at the 2018 LOCUS Leadership Summit: Rebuild America’s Neighborhoods. With value capture in particular, having developers and consultants with relevant experience in the room provided some important insights into how to successfully execute such projects.
In Miami-Dade County, a newly created tax increment financing (TIF) zone is projected to raise $1.8 billion over 30 years for potential transit expansion projects.
Photo credit: Michael Barera via Wikimedia Commons
How much can being near a transit station benefit a home’s value? $2,040 to be precise. That’s how much one Transit Score percentage point can increase home values, on average, according to new analysis from national real estate brokerage Redfin.
This week we’re featuring two resources that get more specific on details related to financing for housing or infrastructure in TOD.
This paper points to two evolutionary steps that can promote economically viable and more livable transit oriented communities – (1) coordinating transit and real estate development in one sequential process and (2) advancing TOD goals beyond vertical real estate development to encompass community “Livability Benefits” that are often required of developers and typically mandated by … Continued
This study reviewed projects in Chicago, New York, San Francisco and Washington D.C. to observe how coordination between the relevant parties is conducted and, from the information gathered, a series of conclusions, best practices and recommendations were compiled. It is the conclusion of this study that in order for coordination of value capture mechanisms to … Continued
Over the past decade, it has become increasingly clear that the presence of transit can increase property values and result in valuable development opportunities. In this era of constrained transit funding and widespread demand for new and expanded transit systems, policy makers, transit planners and elected officials are increasingly interested in harnessing a portion of … Continued
This report provides information about funding mechanisms and strategies that communities can use to provide innovative financing options for TOD. It explains dozens of tools that provide traditional financing as well as new tools.
This webinar describes techniques for capturing the property value increases to pay for transit or other improvements.
This handbook collects the innovative approaches that state transportation leaders are already using to make systems more efficient and effective in today’s challenging economy. Smarter transportation investments are both possible and popular; the challenge is determining where to begin and to whom to reach out for support and guidance. Every state is different, from the … Continued