Measuring the Impact of Transit from a TOD Perspective

October 31, 2018

Chessy BradyRTD TOD ManagerChessy.Brady@RTD-Denver.com303.299.2073

What is Transit-Oriented Development?

• More compact and dense development within a 10-minute walk or ½ mile distance from high frequency station

• A mix of uses, usually residential, retail, and office

• High-quality, pedestrian-oriented urban design and streetscapes

Photos: Smart Growth America

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Why do TOD?

• Compact development makes efficient use of land, infrastructure

• Varied land uses allow for walking to everyday destinations

• Proximity to transit discourages auto commutes, reduces congestion, improves air quality

RTD’s Role in TOD

• Station Area Planning

• Source for local information and TOD best practices

• RTD Coordination

• Encourage TOD on RTD land through public/private partnerships with developers and jurisdictions

TOD vs. Joint DevelopmentExample: Alameda Station

Potential

TODRTD Land

JD

W Alameda Ave

S B

roa

dw

ay

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The Denizen

• 275 units

• 2,000 SF retail

Agenda

• Economic Impact Analysis

• TOD Trend Tool

• Quality of Life Study

• TOD Database/TOD in Pictures

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Economic Impact of Transit Investments

• Dallas DART $10.8 bn in economic development since 1999 [link]

• Portland MAX $11.5 bn in development within walking distance of stations since 1986 [link]

• Salt Lake TRAX $7 bn in economic development since 2000 [link]

• Phoenix METRO $8.2 bn in economic development since 2008 on an investment of $1.35 billion [link]

• Houston METRO $8 bn in economic development since 2004 on an investment of $324 million [link]

• Twin Cities METRO $8.4 bn in development on an investment of $2.031 billion [link]

• Denver RTD ?

Summary by David Dobbs, LightRailNow.org

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TOD Trend ToolInteractive Excel Database using Costar data

Sample outputs:

Since 2005,• 12.8 M sf office and 25k

multifamily units built within half-mile of stations

• 18% of new office and 8% of new multifamily units in Denver MSA occurred within half-mile of Union Station

22%

17%61%

Near Open

Representative

Stations

H+T Cost

In 2015, people inthe Metro Denver region spent an

average of 47% of their income on

housing and transportation

costs. Near transit stations, people

spent 39%.

Source: CNT H+T Index

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RTD’s Quality of Life ReportHOUSING + TRANSPORTATION (H+T) COST

27%

20%

53%

Region

Housing Transportation Remaining Income

H+T = 47%H+T = 39%

New Development

Within half a mile of Union Station,

over 13,000 square feet of

retail space and 390,000 square feet of office

space were built in 2015.

Source: RTD TOD Database

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RTD’s Quality of Life ReportOFFICE, RETAIL, & INSTITUTIONAL DEVELOPMENT

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Retail Office Institutional

Millio

ns

of

Sq

ua

re F

ee

t o

f D

ev

elo

pm

en

t

RTD’s Quality of Life ReportHOUSING STARTS

Housing Starts

In Metro Denver, housing starts increased 27%

between 2015 and 2017. The mix of housing built has

shifted from mostly single family to an equal balance of

multi and single family homes.

91%

55%

43%63%

68% 54%40%

44%50%

52%47% 48%

9%

45%

57%

37%

32%46%

60%

56%50%

48%

53%52%

14,900 15,050

9,970

4,500

5,760

7,400

15,270

17,350 17,140

19,020

23,140 24,100

0

5,000

10,000

15,000

20,000

25,000

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Single Family Multi Family

Ne

w H

ou

sin

g U

nits

Source: US Census

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TOD Database/TOD in Pictures

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TOD Database Summary

Investment in transit has had a significant impact on development in the region.

Transit-oriented development within ~1/2 mile walk of a high frequency station*:• 39,500 Residential Units• 10,400,000 Square Feet Office• 1,500,000 Square Feet Retail• 2,800 Hotel Rooms

*Downtown Denver excluded

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Lines Resi Units Office S.F. Retail S.F. Hotel KeysCentral 3,035 172,000 18,000 -

Existing TOD 1,838 - 18,000 - Planned TOD 1,197 172,000 - -

Central Platte Valley 119 - - 150 Existing TOD 119 - - 150 Planned TOD - - - -

CU A Line 1,417 1,643,000 272,500 600 Existing TOD 653 755,000 100,000 - Planned TOD 764 888,000 172,500 600

Flatiron Flyer 3,930 470,000 239,700 275 Existing TOD 2,843 300,000 15,700 150 Planned TOD 1,087 170,000 224,000 125

G Line 1,758 - - 136 Existing TOD 1,210 - - 136 Planned TOD 548 - - -

Northwest 3,501 661,000 92,500 - Existing TOD 70 - - Planned TOD 3,431 661,000 92,500 -

R Line 4,598 250,000 282,000 757 Existing TOD 2,344 - 45,000 618 Planned TOD 2,254 250,000 237,000 139

Southeast 7,260 4,917,780 252,569 86 Existing TOD 6,910 2,619,000 196,000 86 Planned TOD 350 2,298,780 56,569 -

Southwest 1,670 145,000 - - Existing TOD 1,307 140,000 - - Planned TOD 363 5,000 - -

L Line 5,954 148,192 95,800 41 Existing TOD 4,234 141,192 95,800 - Planned TOD 1,720 7,000 - 41

W Line 3,538 175,000 - - Existing TOD 2,194 175,000 - - Planned TOD 1,344 - - -

Denver Union Station 2,803 1,836,191 296,404 743 Existing TOD 1,806 1,836,191 254,404 510 Planned TOD 997 - 42,000 233

Grand Total 39,583 10,418,163 1,549,473 2,788 Existing TOD 25,528 5,966,383 724,904 1,650 Planned TOD 14,055 4,451,780 824,569 1,138

What Enables TOD?

• Market

• Zoning

• Infrastructure/Access

• Jurisdiction Interest/Incentives

• Lot size and ownership

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Central

Downtown Development

Wellington Apartments253 units – Planned 2019

Tapiz100 affordable units – 2013

Arches93 affordable units – 2014

Mariposa87 affordable units – 2014

The Zephyr77 affordable units – 2014

The Aerie94 affordable units – 2014

DHA HQ172k SF office & retail

– Planned 2019

IMT Alameda Station338 units – 2014

The Denizen275 units, 2k SF retail – 2015

PDG Design District354 units – Planned 2019

Alta SOBO Station187 units – Planned 2019

Broadway Junction60 affordable units – 2008

Windsor at Broadway Station419 units – 2009

1000 S. Broadway Apts260 units – 2014

The Henry403 units – Planned 2019

Broadway Station Partners Office, residential, retail – TBD

D

F

H

E

C

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Platt Park Townhomes30 townhomes - 2015

Hanover Platt Park303 units – 2018

Southwest

Evans Station Lofts50 affordable units – 2013

Encore Evans Station224 units – Planned 2018

Cherokee Flats139 units, 5k SF retail – Planned 2020

Englewood Civic Center140k SF office – 2000

ArtWalk CityCenter445 units – 2001

Liv Apartments30 units – 2016

Broadway Acoma Lofts111 affordable units – Planned 2018

Oxford Station Apartments238 units – 2016

Vita160 units – 2017

C

D

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Berkshire Aspen Grove280 units – 2011

Southeast, Part I

University Station Apartments

60 senior affordable units – 2014

Colorado Center1987–2018

Tower 1 – 180,000 SF Office Tower 2 – 261,480 SF Office Tower 3 – 216,352 SF Office

Annex – 60,948 SF Office 11,569 SF Retail

Millennium Colorado Station350 units – Planned 2019

Yale Station50 senior affordable units – 2011

Garden Court at Yale Station64 affordable units – 2016

Yale 25 Station112 units – 2018

The District276 units, retail – 2004

Camden Belleview Station270 units – 2009

Cielo201 units – 2009

Milehouse353 units, retail – 2014

Pearl DTC408 units – 2015

The DEN325 units, retail – 2016

Carillon Belleview Station163 senior units – 2018

One Belleview Station315K SF office – 2018

Denver Tech Center900 acres

25M SF of development150k jobs

Landmark271 condos/apartments,

168k SF retail – 2008

R

F

H

E

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Monaco Row204 units – 2013

One DTC West75K SF office – 2018

W Line

Outlook Golden Ridge172 units– 2015

Beacon 85343 units – 2017

WestLink244 units – 2015

Avenida Senior Living229 senior units – Planned 2019

Oak Street Townhomes81 townhomes –2018

Oak Station Apts291 units

– Planned 2019

Indy Street Flats115 affordable units

– Planned 2019

Pearson Grove82 townhomes – Planned 2020

Zephyr Line95 affordable units

– 2015

Lamar Sta. Crossing138 affordable units

– 2014

West Line Flats155 units– 2017

40-West Residences60 affordable units

– 2017

Flats at Two Creeks78 affordable units

– Planned 2020

West Line Village175 townhomes

– 2018

Sheridan Sta. Apts63 affordable units

– TBD

Brandon Flats104 affordable units

– TBD

Regatta Sloan’s374 units – 2015

Perry Row32 townhomes

– 2018

Arroyo Village130 affordable units

– Planned 2018

Decatur Place106 affordable units

– 2014

Avalon Apts.80 affordable units

– 2014

Corky Gonzales Public Library

25,000 SF – 2015

CDOT HQ175k SF – 2018

Luxe at Mile High382 units – TBD

Stadium District Master Plan

Mixed use redevelopment

– Planning ongoing

W

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To summarize

• Economic Impact Analysis Nope, don’t have it!

• TOD Trend Tool Coming soon!

• Quality of Life Study Available now! www.rtd-denver.com/QofL.shtml

• TOD Database/TOD in Pictures Available now!

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