Post on 15-Nov-2014
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Walkable Urban, Transit-‐oriented Development: Key to 21st C Economy
h@p://business.gwu.edu/walkup/
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Arlington Starts Transforms in 1980s: Rail Transit, Overlay Zoning & Mgmt
Same Place Today
1980s: Ex-‐Sears Stores
Two blocks north and south, single family housing that is highest priced in Arlington on $/foot basis: Best of Two Worlds 10% of the land=50%+ of government revenues
Among best schools in Country…new housing has 0.4 per unit
Metropolitan Land Use Op]ons Regionally Significant
Local-‐ Serving
Walkable Urban
Place—e.g. TOD 1-‐2% of Metro Area
Neighborhood 3-‐7% of Metro Area
Drivable Sub-‐Urban
Edge City 5-‐7% of Metro Area
Bedroom Community
80-‐85% of Metro Area
Economic Role
Form
Rail Transit, especially streetcars Rock Creek Railway, DC, 1903 Salt Lake City-‐1920s
West End & Atlanta Street Car-‐1920s Pacific Electric, Los Angeles-‐1918
How to Pay for Transit? Local Taxes
Progressive Real Estate Cash Flows with Value Latching
0%
50%
100%
150%
200%
250%
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Time (years)
Valu
e Cr
eatio
n / C
ash
Flow
($)
Short Term Mid Term Long Term
Value Latching
+
VALUE CAPTURE—PUBLIC (TIF) & PRIVATE GentrificaNon Pays Transit
But Also…Value Capture & TIFIA
Christopher B. Leinberger Land use strategist, developer, author, researcher, professor
(www.cleinberger.com)
• The Op'on of Urbanism; Inves'ng in a New American Dream, Island Press, 2008
• The Next Slum?, The Atlan]c Monthly, March, 2008
• Here Comes the Neighborhood, The Atlan]c
• “The Death of the Fringe Suburbs”, New York Times, November 26, 2011
• “Now Coveted, A Walkable Convenient Place”, New York Times, May 25, 2012