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What's my TOD? Frameworks to Identify the Potential for Transit-Oriented Development
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What’s My TOD?
Evaluative Frameworks to Identify the Potential for Transit-Oriented
Development
Massachusetts Area Planning CouncilCapitol Region Council of GovernmentsRegional Plan Association
Growing Station AreasUnderstanding the Variety and Achieving the
Potential of Transit Oriented Development in Metro Boston
Timothy G. ReardonMetropolitan Area Planning Council
Southern New England APA Conference18 October 2013
A New Wave of TOD in Metro Boston
Fan Pier
SouthField
30 Haven St., Reading
Jackson Square
The TOD PipelineRecently completed: 10 million sq ft commercial11,200 housing units
Under construction: 4.7 million sq ft commercial3,500 housing units
Planning / permitting:29 million sq ft commercial29,200 housing units
Transit Station Area Types
Metro Core Neighborhood Subway
Urban Gateway
Commerce Park
Trolley Suburb
Seaport / Airport
Transformational Subway
Town & Village
Suburban Transformat
ion Undevelope
d
Station Area Mix and Intensity
1
10
100
1,000
- 0.20 0.40 0.60 0.80 1.00
Nor
mal
ized
Inte
nsity
(lo
g sc
ale)
(E
mpl
oym
ent +
Pop
ulat
ion)
Per D
evel
oped
Acr
e
Mix(employment/(employment + population))
Transit Station Area Mix and Intensity
Metro Core
Seaport / Airport
Neighborhood Subway
Transformational Subway
Trolley Suburb
Urban Gateway
Town & Village
Commerce Park
Suburban Transformation
Undeveloped
Source:MassGIS, InfoGroup,MAPC AnalysisData are for 1/ 2 mile non-exclusive station areas
Opportunities /Constraints
TOD Potential76,000 housing units
133,000 jobsMajor component of projected regional growth31% of housing demand 56% of job growth
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
Housing Units Employment
TOD in the Pipeline and Additional Potential
Additional potential for
16 million sq ft.
32,700units in the pipeline
Potentialfor add'l 43,400 units
35million sq. ft in the development
pipeline
Financing Challenges• Predevelopment: planning,
assemblage, and permitting takes time and money
• Retail: can’t mix residential & nonresidential funding; construction costs exceed market rents
• Readiness: transformative projects take time (decades) to realize full value
• Infrastructure: Needed off-site improvements too expensive for project to bear
• Parking: structured parking needed to accommodate density & placemaking
New TOD Finance ToolsEquitable TOD Accelerator Fund
Local Initiatives Support Corporation• Acquisition & holding costs• Predevelopment & feasibility expenses• Bridge Loans• Top-loss Reserve• 3-year loans at 3 – 6%
Healthy Neighborhoods Equity FundConservation Law Foundation Ventures• Patient capital to fill existing Loan-to-Value gap
based on anticipated future value• 5 – 25% of total development costs• 8 – 15% rate of return for investors over 7 to
12 years
Thank YouTimothy G. Reardon
Manager of Planning ResearchMetropolitan Area Planning Council
[email protected] www.mapc.org/tod
Knowledge Corridor TOD Market Analysis
• Analyzes existing market conditions
• Projects future jobs and housing
• Identifies TOD opportunities and strategies
• Helps us think about TOD on corridor basis
Sustainable Knowledge Corridor• Home to 1.6 million
residents
• 3 planning regions in MA and CT
• Over $1.5 billion in new transit and rail investment
• Shared regional assets
Sustainable Knowledge Corridor Projects
• Regional Planning & Civic Engagement– Update existing regional plans– Develop Bi-State Action Plan
• Special Projects: Leadership Pioneer Valley, TOD Market Analysis, Transit Enhancement Studies, Sustainable Land Use and Affordable Housing Regulation Development, Training
• Place-Based Projects: Springfield, Chicopee, Holyoke, Hartford, New Britain and Enfield
• Metrics and Information Sharing www.sustainableknowledgecorridor.org
Demographics are Promising for TOD
Need Corridor Centered Growth
TOD Supportive Industries Are In Corridor and Are Growing
TOD Needs More than Transit—Market and Urban Form Matter
Opportunities & Strategies Vary by Station Type
Realizing TOD Requires Proactive Efforts
• Planning and Visioning• Zoning and Land Use Regulations• New Development• Neighborhood Revitalization• Local Transportation and Infrastructure• Economic Development
Active Leadership is Crucial for Success
• Investments by States and Anchor Institutions can be catalysts for development in station areas
For More Information Contact
Mary Ellen KowalewskiDirector of Policy and PlanningCapitol Region Council of Governments
860-522-2217 ext. [email protected]
Transit-Oriented Development in Connecticut• Transit Expansions:• New stations opened:
West Haven, Fairfield• Potential new stations:
Orange, Bridgeport, Stamford• Branch line improvements
under consideration:• New Canaan• Danbury• Waterbury
• Transit-oriented economic development strategy:• Governor’s Inter-Agency Task
Force• TOD Pilot Program
• Sustainable Communities Grantees:• New York- Connecticut
Sustainable Communities Consortium
• Knowledge Corridor Consortium
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One Region Funders Group- Equitable TOD
• Partnership of Funders and Non-profits• TOD Toolkit• Analysis of community readiness• Do land use regulations in Connecticut
support transit-oriented development?• Are there common regulatory barriers?
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Does your town support TOD?• Plan of Conservation and Development• What does your Plan of Conservation and Development say about
your station area? • How old is the plan? How well does it reflect community values?
• Zoning• What would as-of-right development look like in your station
area?• How could a change to regulations encourage investment?
• Next Steps
26
Findings
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Parking Do parking ratios & other strategies
encourage transit use and reduce the amount of land and dollars invested in
parking?
DensityDo densities support frequent transit and
create local consumer demand?
Land Use Do a mix of land uses meet the needs of
residents and businesses?
VisionIs there a community vision in place that
recognizes the potential of transit to impact development?
8
21
22
23
19
12
10
8
15
9
10
11
Yes Partly No
Yes Partly No
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Vision: Define relationships of transit & land use to each other• More than ½ of stations
are center of TOD-type community visions
• Other stations recognize need for additional planning
• Eleven stations ignore potential of TOD around stations 29
POCD does not address
station area; 11
Suggests further
planning; 8
Transit-based
vision in place; 23
30
Land Use: Maximize ridership & activity with mix of uses
31
Residential only; 11
Area allows multiple uses; 9
Mixed-use zoning in place; 22
• Most stations with visions in place have zones which allow a mix of uses• Others have multiple
zones near station, contributing to overall neighborhood mix
Density: Encourage proximity of uses & economic feasibility
• Assess different densities for different places• Suburbs:
• >10 units/acre, 3 stories, 1.5 FAR
• Cities: • >20 units/acre, 4 stories, 2.5 FAR
• There’s no magic number• “Moderate” density may be
insufficient for development feasibility 32
Low; 9Moderate
density, 11
Transit-oriented
density; 19
Parking: Minimize need for cars and investment in parking• Towns are beginning
to make use of strategies to reduce parking, such as• Shared across time of
day• Payment-in-lieu
supporting public parking
33
Car-de-pendent
ratios; 16
Strategies allow re-
duced parking;
19
Reduced parking ratios; 7
34
Community Profile- Darien• POCD: supports “park-
once” commercial district
• Zoning: 2-story commercial, parking, single-family homes
• Parking: 2-2.5 spaces per unit, potential reductions for shared
“[Darien] should continue to have higher density housing located near transportation facilities such as train stations, and within walking distance to local shopping.”
35
Community Profile- Bethel• Vision: Rezone station area
for moderate density mixed-use, complete sidewalk network
• Zoning: mixed-use up to 10 units/acre, more possible w/village district overlay
• Parking: standard, with shared & TOD reductions possible
“Landscaped sidewalks connecting the mixed use development with the train station and downtown should include benches, water fountains, and other pedestrian amenities.”- Bethel POCD
36
Community Profile- Bridgeport• POCD: pedestrian-friendly
and transit-oriented
• Zoning: Downtown village, up to 20 stories
• Parking: Low minimums of 0.5/unit + 10% with ability to reduce further with shared parking, car-sharing, unbundled, employee cash-outs…
“The competitive edge for a Downtown is the ability to create a pedestrian environment where people walk instead of drive from one place to another.”
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Urban Reposition Station• Land Use Mix
Single-family and multifamily residential
Neighborhood retailIndustrial Industrial building conversions to
res./comm.Parks
• Median Residential Sales Price/Rent$73,600/$842 (corridor median $160,869/$930)
• Density20.94 persons/acre
• WalkabilityHigh
• Transit ServicesLocal bus serviceEst. 954 daily CTfastrak Boardings (2015)
• Neighborhood Municipal Development PlanSupports TODBrownfields remediation needed to support development
• % TOD Supportive Jobs59%
New suburban train station
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• Land Use MixSingle-Family Residential
Strip CommercialIndustrial
• Median Residential Sales Price$206,750 (2009)
• Density 5,212/sq mile (townwide)~9 people/acre
• WalkabilityLow
• Transit ServicesBus every 20-30 minutesCommuter rail every 20-40 minutes
• Plan of Conservation & DevelopmentExtensive TOD plan includes identifying needs
and establishing agency responsibilities • Zoning TOD zone: Med/High density mixed-use.
Residential uses contingent on commercial component. Surrounding zones allow lower-density mixed-use/multifamily.
• Parking 1 space per bedroom2 minimum per unit except in TOD district
