What Makes Other Places Attractive?

Denver’s Skyline

Source: Denver CityScape

Source: PPS – Jon Winslow

Portland’s Pearl District

Faneuil Hall, Boston

Source: Faneuil Hall Marketplace

Liberty Street, Ann Arbor

Source: Arbor Update

Main Street, Royal Oak

Source: Detroit Rising

Transit-Oriented Development

1. A mix of uses

2. Walkable

3. Compact development

4. Near a transit stop

Many people want places with:

Existing conditions – built around cars, not people

Difference Between Most Michigan Development and TOD

Allow Mixed-Use

Mix uses and build closer to the sidewalk

Walkable

Slow down traffic and make streets for people, not just cars

Compact

Increase density by focusing development

Convenient Public Transit

Density supports more transportation options

Higher Density Around Transit Stations, Lower Elsewhere

Source: EPA and WMATA

Arlington, VA has focused development along the Metro line.

23% of Arlington’s workforce take the Metro to work, the national average is

about 4%.

TOD has provided Arlington residents

with the lowest taxes in Metro D.C.

$9 billion of real estate investment

along line

Every TOD Is Different

Denver, CO

TOD Station

Area Types

Center City

Major Urban Center

Urban Center

Urban Neighborhood

Commuter Town Center

Suburban Main Street

Campus / Stadium

Source: http://www.denvergov.org/TOD/StationTypology/tabid/395260/Default.aspx

TOD is built differently in

different settings

The Wall Street Journal June 11, 2007

“In dozens of cities -- from Charlotte, N.C., to Denver to Portland, Ore. -- the hottest

redevelopment project is happening next to the

local train station.”

Business 2.0July 7 2006

“Dense settlements, not sprawling ranch

houses, are the future of housing - and could

make for a smart real-estate investment.”

USA Today

June 10, 2007

“Transit-oriented developments are

so popular with re

sidents who crave

the opportunity to liv

e in a walkable

community that at least a dozen citie

s

and suburbs across the USA are

embracing the concept – even if they

don’t have ra

il.”

Emerging Trends in Real Estate 2007 ULI and Pricewaterhouse Coopers

Transit Oriented Development Rated #1 Real Estate Investment

TOD is HOT

The Hottest Type of Development Is TOD

16 million households will desire TOD by 2030- Estimate from Reconnecting America- Dana Belzer,2004

But the demand is not being met• Over 30% of housing demand is for

townhouses, apartments, and condos in compact, walkable, urban style neighborhoods

• Only 2% of new housing starts is meeting this demand

Source: Center for TOD

Economic Trends Support TODYoung professionals want vibrant mixed use

neighborhoods near transit

“To retain and attract millennials, the region and state need to create more of the urban, mixed-use neighborhoods they seek.”

- Laurie Volk, Market Analyst with Zimmerman/Volk Associates Inc. talking about Southeast Michigan

Demographic Trends Support TOD

80% of Americans over age 45 decide where to live based on proximity to

the things they need as they become less mobile – AARP National Survey

Portland, ORCredit: Dan Burden

The Elderly Desire:

OPTIONS IN: Housing Transportation

ACCESS TO: Services Entertainment Public Spaces

Credit: Dan Burden

TOD is Economic Development

Dallas, TX

• $3.3 billion in private investment near DART stations• Property values rose 39-53% faster near transit stations• 32,000 jobs created within 6 years• Local property tax revenue annually from TOD: $78 million

Mockingbird Station, Dallas’ first TODPhotos and Info Courtesy: Dallas Area Rapid Transit