01762173

Monograph

http://www.trb.org/Main/Blurbs/181669.aspx

This report is designed to advance the successful use of joint development projects in North American transit systems—addressing the volume and variety of projects undertaken, the diversity of transit agencies participating, and the quality of outcomes achieved. The guide rests on a research effort including in-depth surveys with transit agencies, local or regional government entities, and private sector companies. The research team also undertook an extensive survey of relevant literature from both academic and practical sources. The research findings are presented in a series of nine appendices available in TCRP Web-Only Document 73. The contents are divided into two main sections. The first section addresses the sequential stages of the joint development process, from program development through site planning, developer selection, and project execution. At each stage, there is a focus on best practices. The second section addresses strategic issues that cut across the sequential stages of the process. Here, too, best practices are an organizing framework. This section also describes the role of FTA and addresses the critical need to coordinate with local governments, from planning through execution, to secure favorable zoning, timely approvals, and appropriate development incentives. There are extended discussions of the economics of joint development projects, particularly the tradeoffs that a transit agency faces in defining and evaluating its financial return and the critical role that two issues—affordable housing and parking—have come to play in the economics and policy parameters of many joint development projects. Emerging business models are described which serve to expand the horizon of joint development practices. These include development of hub stations and transit centers; opportunities to partner with off-site developers and sister land-owning agencies; value capture districts that fund transit improvements; planning new and extended corridors with an intentional focus on joint development opportunities; and development of non-station assets. Transit agencies undertake joint development for three primary reasons: to monetize a real estate asset; to generate increased ridership; and to influence sustainability, equitable development, and transit-oriented place-making in station areas and corridors. The conclusion of the guide addresses how transit agencies can turn these goals into metrics that help define the desired outcomes of their joint development activities and evaluate actual outcomes.

Project H-57

English

195p

2021

TCRP Research Report

9780309673914

Digital/other

Appendices; Figures; Glossary; Photos; Tables

Best practices; Guidelines; Joint development; Partnerships; Public transit; Transit operating agencies; Transit oriented development

United States

Administration and Management; Planning and Forecasting; Public Transportation

TRIS, TRB, ATRI

Jan 7 2021 4:40PM