Senators Schatz, Markey, and Merkley introduce Transit Oriented Development Infrastructure Financing Act
A new bill introduced today in the Senate would help local communities better capitalize on development opportunities near public transportation by providing financing support in the form of loans or loan guarantees under the highly successful the Transportation Infrastructure Finance and Innovation Act (TIFIA) program.
Senator Brian Schatz (D-HI), Senator Ed Markey (D-MA), and Senator Jeff Merkley (D-OR) introduced the Transit Oriented Development Infrastructure Financing Act, a bill which would add a new provision to TIFIA to include financing for transit-oriented development projects. In response, Christopher Coes, Director of LOCUS, released the following statement.
On March 11, more than 175 real estate professionals from the greater Boston area came together for the 2015 LOCUS New England Leadership Summit: Closing the Next [Smart Growth] Deal.
Massachusetts Executive Office of Housing and Economic Development Secretary Jay Ash kicked off the day’s events with an opening plenary on the future of housing in Massachusetts. Secretary Ash discussed the state’s successes and challenges when it comes to creating walkable communities. “We ought to make sure to prepare communities for success,” Ash said. “There are opportunities across the Commonwealth, and my challenge to developers is to think big.”
Transit-oriented development (TOD) can make it easier for people to live and work near public transportation. These places are in high demand and real estate developers are eager to build them, but because they’re often complicated TOD projects can be difficult to secure financing for.
Smart Growth America seeks a Communications and Policy Fellow to support LOCUS, a national network of smart growth real estate developers and investors. The Fellow will be a core member of the LOCUS team and provide direct support to the LOCUS network of real estate developers and investors advocating for smart growth policies at the federal and regional levels.
Real estate developers and investors in Michigan are invited to join LOCUS and the Michigan Municipal League for the inaugural Michigan Leadership Summit on June 23, 2015 in Detroit, MI. This day-long event will bring together local elected officials and real estate developers to network, make deals, and discuss policy strategies to build great, walkable places across Michigan.
Metropolitan Boston is poised to be one of the most walkable metro areas in the country. This is one of the exciting findings of The WalkUP Wake-Up Call: Boston, a new report unveiled in Boston today at LOCUS’s first-ever New England Leadership Summit.
The new research defines—for the first time—the form and function of all land use in metropolitan Boston’s 3,100 square miles, identifying 57 regionally significant walkable urban places (or “WalkUPs”) in metro Boston and ranking them based on economic performance, measured by the real estate valuations for each product type and the fiscal revenues generated for local governments, and by social equity performance, measured by accessibility, opportunity, and affordability for residents. Looking ahead to future opportunities, the report also identifies emerging and potential WalkUPs where new development could go.
As shown by substantial and increasing real estate valuation premiums in all real estate product types (office, hotel, rental apartment, retail, and for-sale residential), the report found strong and growing signs of pent-up demand for walkable urban neighborhoods in the Boston area—marking a reversal in real estate development that has long followed the drivable suburban model. Even more remarkable is the fact that these WalkUPs, account for just 6% of the total land area in the Boston metro region.
Since 2012, LOCUS Developers: Responsible Developers and Investors has presented our National Leadership Award to developers or investors who demonstrate exemplary commitment to furthering LOCUS’s mission of public leadership and advocacy in support of smart growth development.
Somerville is one of the most walkable cities in New England, and the city’s transformation has not slowed down.
Learn how the city has helped facilitate this transformation from Somerville Mayor Joseph A. Curtatone at the 2015 LOCUS New England Leadership Summit, March 11, 2015 in Boston, MA. You’ll hear how the city and private sector worked together, and learn about new development opportunities in Somerville and across New England.
Walkable real estate development projects and places are on the rise nationwide. Over the past year, LOCUS has looked at how these trends are playing out in Atlanta and Washington, DC.
On March 11, we’ll reveal new analysis of which walkable urban places—or “walkUPs”—are changing the real estate landscape in another major American city: Boston.
The WalkUP Wake-Up Call: Boston will, for the first time ever, analyze the different forms and economic use of all land use across metro Boston and rank Boston-area communities based on economic and social equity metrics.