Thrilled to announce the release of our latest report providing comprehensive state-level guidance for Transit-Oriented Development (TOD) policy! ???
In collaboration with the Washington Center for Real Estate Research, "Finding Common Ground: Best Practices for State Policies Supporting Transit-Oriented Development" is out now!
The report looked at California, Oregon, Massachusetts, and British Columbia, and also interviewed policy experts, developers, and legislators to identify key themes and elements for transit-oriented development from a state-level perspective to promote private investment.
Recommendations include:
Increase densities: Consider state legislation to mandate average minimum floor-area ratio requirements but allow local jurisdictions to implement specific height limits, setbacks, and other regulations at the parcel level based on local context.
Incorporate TOD policies in zoning reforms: Upzone as much area as possible near the transit station to enable TOD including a mix of uses (residential, office, and retail) in communities across the state.
Reduce or remove parking minimums: Given the high cost of providing parking, reduce and remove parking requirements near transit to enable more development projects and support the essence of TOD by reducing car travel.
Reduce development permitting times and uncertainty: Any legislation that expedites the development entitlement process reduces cost and therefore makes more types of projects feasible. Creating streamlined review and approval processes for developments within TOD, particularly if they include affordable housing units, is a means to support the financial viability of that development without using only cash subsidies.
Align definitions and requirements: Standardize the definition of transit-oriented development, including distances from stations and methods of calculating those distances, and types of transit. Affordable housing requirements, thresholds, methods for determining area median incomes, percentage of affordable units required, and requirements for on-site production could also be aligned.
Provide technical assistance and data: Support local jurisdictions with grants and training programs and supply relevant data in their efforts to incorporate provisions from TOD legislation into their comprehensive plans, zoning codes, and building permitting processes.
Provide financial subsidies: Tools like tax exemptions and tax credits, land transfers and reduced fees are essential to ensure projects are financially viable for transit-oriented development with affordability requirements.
?? Dive into the report https://lnkd.in/gAAnj_XC
Thank you to Mason Virant Steven Bourassa Arthur Acolin and Christian Phillips for leading this effort!
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