TriMet’s joint development program in Portland, OR, helped build the Patton Apartments (above) on land once occupied by the Crown Motel. Photo via SERA Architects.
Developing land owned by transit agencies boosts ridership and supports local economies. So how come more agencies don’t do it?
New guidelines from the Federal Transit Administration (FTA) encourage transit agencies to do just that. In guidance issued on August 25, 2014, the FTA came out in support of joint development—cooperation between local transit agencies and real estate developers to make the most of agency-owned land. The new guidance is the first time the FTA has publicly recognized the multiple benefits of such cooperation, which include increased ridership, better transit access for the community, greater revenue for the transit agency, and broader economic development. From the document: