Existing Transit Stops as Assets for Transit-Oriented Development

Rail transit has largely been built to suburban areas — and the result has been that of the dozens of metro and light rail lines completed in the United States between World War II and the 1990s, few took serious advantage of the ability of transit systems to increase property value by easing commutes into city centers, instead focusing on getting suburbanites to drive into stations and then use the train only to make the final journey into downtown. But older transit systems are not getting into the TOD game — building density on existing transit parking lots.

Scott Polikov from Fort Worth expands this line of thinking — we can use “value capture” on land near transit lines to actually finance the transit, or at least ask the landowners to enhance transit (as transit has enhanced their property values) by providing affordable housing in their developments.

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About Bob Voelker

Head of the Munsch Hardt (Dallas law firm) Hospitality & Mixed Use Development Group, and former developer of affordable housing. I'm i
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