AARP Video Shows Benefits
Developers looking for a boost to their aging-in-place initiatives might have an incentive by embracing Transit-oriented development (TOD).
TOD is compact, mixed-use development near transit facilities and high-quality walking environments. TOD leverages transit infrastructure to promote economic development and smart growth, and to cater to shifting market demands and lifestyle preferences.
TOD is about creating sustainable communities where people of all ages and incomes have transportation and housing choices, increasing location efficiency where people can walk, bike and take transit.
Active Living for All Ages: "Creating Neighborhoods Around Transit" is an AARP video that shows how TOD facilitates the independence and mobility of older adults. The six-minute video features conversations with residents, local officials and experts in TOD in Arlington, Virginia--a walkable, mixed-use community with access to a variety of public transit options, entertainment and recreation, and basic services such as shopping and medical services. The video highlights design features that create a pedestrian-oriented, accessible community.
TOD boosts transit ridership and reduces automobile congestion, providing value for both the public and private sectors, while creating a sense of community and place. Some projects are jointly developed as a form of transit-oriented development that is often project specific, taking place on, above, or adjacent to transit agency property. It involves the common use of property for transit and non-transit purposes. Proximity to rail transit has been shown to enhance property values and can increase the opportunity for fostering community and development partnerships.
The most common joint development arrangements are ground leases and operation-cost sharing. Most often, joint development occurs at rail stations surrounded by a mix of office, commercial, and institutional land uses. However, examples of public-private joint ventures can be found among bus-only systems.
Experts say that the potential benefits of TOD and joint development are social, environmental, and fiscal. Focusing growth around transit stations capitalizes on expensive public investments in transit by producing local and regional benefits.
The most direct benefit of TOD and joint development is increased ridership and the associated revenue gains. Other primary benefits include:
- the vitalization of neighborhoods
- financial gains for joint development opportunities
- increases in the supply of affordable housing
- profits to those who own land and businesses near transit stops.
Secondary benefits include:
- congestion relief
- land conservation
- reduced outlays for roads
- improved safety for pedestrians and cyclists.
Until the AARP video was presented to me, I was not fully aware of this concept but it certainly makes sense. I have encountered CCRCs being developed around universities. Pursuers of life-long education flock to these communities. Being close to transit and the quality of life it offers should be considered when starting or considering a business in aging services.
Learn more ~ or join the conversation!
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
@AARP
No comments:
Post a Comment