What Makes Other Places Attractive? Denver’s Skyline Source: Denver CityScape Source: PPS – Jon Winslow Portland’s Pearl District Faneuil Hall, Boston Source: Faneuil Hall Marketplace Liberty Street, Ann Arbor Source: Arbor Update Main Street, Royal Oak Source: Detroit Rising

Transit-Oriented Development 1.A mix of uses 2.Walkable 3.Compact development 4.Near a transit stop Many people want places with:

Existing conditions – built around cars, not people Difference Between Most Michigan Development and TOD

Allow Mixed-Use Mix uses and build closer to the sidewalk

Walkable Slow down traffic and make streets for people, not just cars

Compact Increase density by focusing development

Convenient Public Transit Density supports more transportation options

Higher Density Around Transit Stations, Lower Elsewhere Source: EPA and WMATA Arlington, VA has focused development along the Metro line. 23% of Arlington’s workforce take the Metro to work, the national average is about 4%. TOD has provided Arlington residents with the lowest taxes in Metro D.C. $9 billion of real estate investment along line

Every TOD Is Different Denver, CO TOD Station Area Types Center City Major Urban Center Urban Center Urban Neighborhood Commuter Town Center Suburban Main Street Campus / Stadium Source: TOD is built differently in different settings

The Wall Street Journal June 11, 2007 “In dozens of cities -- from Charlotte, N.C., to Denver to Portland, Ore. -- the hottest redevelopment project is happening next to the local train station.” Business 2.0 July “Dense settlements, not sprawling ranch houses, are the future of housing - and could make for a smart real-estate investment.” USA Today June 10, 2007 “Transit-oriented developments are so popular with residents who crave the opportunity to live in a walkable community that at least a dozen cities and suburbs across the USA are embracing the concept – even if they don’t have rail.” Emerging Trends in Real Estate 2007 ULI and Pricewaterhouse Coopers Transit Oriented Development Rated #1 Real Estate Investment TOD is HOT

The Hottest Type of Development Is TOD 16 million households will desire TOD by Estimate from Reconnecting America- Dana Belzer,2004 But the demand is not being met Over 30% of housing demand is for townhouses, apartments, and condos in compact, walkable, urban style neighborhoods Only 2% of new housing starts is meeting this demand Source: Center for TOD

Economic Trends Support TOD Young professionals want vibrant mixed use neighborhoods near transit “To retain and attract millennials, the region and state need to create more of the urban, mixed-use neighborhoods they seek.” - Laurie Volk, Market Analyst with Zimmerman/Volk Associates Inc. talking about Southeast Michigan

Demographic Trends Support TOD 80% of Americans over age 45 decide where to live based on proximity to the things they need as they become less mobile – AARP National Survey Portland, OR Credit: Dan Burden The Elderly Desire: OPTIONS IN:  Housing  Transportation ACCESS TO:  Services  Entertainment  Public Spaces Credit: Dan Burden

TOD is Economic Development Dallas, TX $3.3 billion in private investment near DART stations Property values rose 39-53% faster near transit stations 32,000 jobs created within 6 years Local property tax revenue annually from TOD: $78 million Mockingbird Station, Dallas’ first TOD Photos and Info Courtesy: Dallas Area Rapid Transit