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Capital Metro Transit Oriented Development
- 1. June 2010 update Transit Oriented Development
- 2. Transit Oriented Development- Why? Ridership — TOD housing provides riders. TOD commercial and retail developments provide destinations. Revenue — Sales tax. Development revenue. For other local governments, property tax. Community choice — TOD adds another lifestyle choice to the regional portfolio
- 3. Who Lives in TODs Now? Majority of TOD residents are adult households Empty-nesters Young urban professionals TOD households tend to be higher income Reflective of newer construction Property values shown to be ~10% higher within ¼ mile of transit TOD households own fewer cars Twice as likely not to own a car Tend to own roughly ½ as many cars as the “average” US household
- 4. 2025 TOD Market: 14.6 m households Singles & Couples without children Married couples w/ children Other households w/o children Other households w/ children Source: Center for Transit Oriented Development
- 5. TOD and the Future Elderly 71% of older households want to live within walking distance of transit. — AARP survey More than 600,000 people aged 70 and older stop driving each year and become dependent on others for transportation . — GAO Driving Life Expectancy Report “ Home buyers aged 45 and older who prefer dense, more compact housing alternatives will account for 31 % of total homeowner growth during the 2000-2010 period.” — Housing Policy Debate , Fannie Mae Foundation
- 6. Transit Oriented Development What is it and how is it different from conventional development?
- 7. TOD = Traditional Neighborhood Development Connected streets Short blocks Mixed uses Mixed housing types Density gradient Ability to evolve with the market Traditional Neighborhood Development Conventional Development
- 8. Transit and Development: Connecting the two Both designs provide Same land uses Same transit Same parking One is walkable neighborhood One is car-access only Source: PB PlaceMaking
- 9. Transit Oriented Development Density —Urban development, not suburban Diversity —Mixed use, mixed income Design —Walkable development
- 10. Density—Urban development, not suburban
- 11. Diversity — Mixed use, mixed income, mixed everything, as many people and activities as possible
- 13. Transit Oriented Development Capital Metro
- 14. MetroRail TOD Projects Each Station is unique in its place, opportunities, and challenges Station TOD updates Leander Crestview MLK, Jr. Plaza Saltillo
- 15. Leander Station Place : Leander, one of the fastest growing towns in the region, adopted an award-winning form-based code in 2005. Opportunities : Mixed use town center, adjacent to new ACC campus. Challenge : Financing parking garage for replacement parking. Status : Development partner selected in 2007. Final entitlements expected by Fall 2010. Grant application for street & parking infrastructure pending. Approximately 600-1,000 housing units, 50,000-100,000 SF commercial space are planned.
- 16. Leander plans Aerial photo of Leander Park and Ride. Capital Metro’s 14 acres are outlined in white.
- 17. Leander plans
- 18. Crestview Station Place : Intermodal hub, good neighborhoods. and corridors with extensive redevelopment potential. Opportunity : Urban village in close-in location. Easily accessible to multiple employers. Challenge : Lamar & Airport corridor needs redesign. Austin Energy property needs redevelopment. Status : Existing Joint Development Agreement with award-winning Midtown Commons. Encouraging other nearby developments.
- 19. Midtown Commons
- 20. Midtown Commons
- 21. MLK, Jr. Station Place : Strong historic neighborhoods with a sense of history and local culture. Opportunity : Community building developments including nonprofits, church, mixed income housing, affordable housing, daycare, etc.. Challenge : Balance new and old elements to serve both newcomers and long-time residents. Status : Chestnut Commons is occupied, PeopleFund is under construction, Redeemer Lutheran educational center is open, affordable housing (M Station by Foundation Communities) broke ground May 12.
- 22. MLK, Jr. TOD in progress
- 23. MLK, Jr. TOD in progress
- 24. MLK, Jr. TOD in progress
- 25. MLK, Jr. TOD in progress
- 26. Plaza Saltillo Place : Near Downtown, a distinct neighborhood composed of established communities and industrial uses. Opportunity : Redevelopment of industrial sites can add residents, businesses, and affordable urban living without disturbing existing single-family housing. Challenges : Environmental cleanup, infrastructure, and community concerns must be addressed. Status : Feasibility study for Capital Metro property based on adopted Station Area Plan will be completed Summer 2010, with possibility of issuing an RFP for development within the next year.
- 29. Many potential sites Final stop locations give potential development locations Coordination with private developments MetroRapid TOD Projects- future
- 30. Many potential sites Final stop locations give potential development locations Coordination with private developments MetroRapid TOD Projects- future
- 31. TOD programs Information & Outreach Transit Ready Development Guide July/August Urban Land Highlights Ad Market Studies Ridership and density analysis Meetings with developers, brokers, and other stakeholders Coordinated Planning City of Austin Comprehensive Planning, Corridor Plans, Station Area Plans City of Leander Planning & Development CAMPO planning Bike/Ped coordination Local and national CNU Local ULI
- 32. Summary Good walkable urban development needs transit to reduce parking demand and traffic impact on surrounding areas. Transit needs good development to reach its full potential. The market for TOD is large and growing. Austin has many opportunities with MetroRail and MetroRapid. Capital Metro works with our partners, both public and private, to create good transit-oriented development.
Editor's Notes
- #16: 600-1000 housing units, 50,000-100,000 SF commercial space
- #17: This is the aerial of the park and ride. Capital Metro’s 14 acres are outlined in white. We went though an RFQ process and selected a development/design team to work with. The developer owns the surrounding property; Torti-Gallas is the design firm.