Transit-Oriented Development…Full Speed Ahead!

With most major American cities struggling with traffic congestion, air quality concerns, and workers weary of suburban sprawl and long commutes, housing within walking distance of public transportation is in demand. According to the Federal Transit Administration ("FTA"), by 2025, almost 15 million U.S. households will want to reside within halfa- mile of existing or developing rail systems. This demand for transitoriented development - or TOD - presents a significant opportunity for developers, particularly since local governments often view the expansion of mass transit (like light rail systems) into their communities as a catalyst for initiating development or redevelopment activities. By partnering with local governments, TOD developers can receive assistance with land assemblage, tax increment financing, enactment or modification of zoning or other land use restrictions (such as deed restrictions), funding infrastructure, and rallying community support.