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BRT and TOD - Rail~Volutionrailvolution.org/.../Andrew-Knudtsen-BRT-and-TOD.pdf · BRT Los Angeles...

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  • BRT and TOD

    September 20, 2017

    Presented by: Andrew Knudtsen, Managing Principal Economic & Planning Systems

    The Economics of Land Use

    O a k l a n d S a c r a m e n t o D e n v e r L o s A n g e l e s

  • What makes TOD on BRT Work?

    ECONOMIC & PLANNING SYSTEMS 1

    Key Factors: • #1 Impact of risk on the

    real estate market • #2 Leverage Why is BRT gaining traction? #1 COST • 21 transit corridors • Range from $3M to

    $90M per mile • BRT (red) substantially

    less than LRT (blue) • Source: ITDP -- Hook Lotshaw, Weinstock

    $0

    $10

    $20

    $30

    $40

    $50

    $60

    $70

    $80

    $90

    $100

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    Cost Per Mile

    Mill

    ions

  • Why is BRT gaining traction?

    ECONOMIC & PLANNING SYSTEMS 2

    #2 Congestion

    #3 Talent Attraction

  • Key Variables

    ECONOMIC & PLANNING SYSTEMS 3

    • BRT

    – Ranking system to clarify effectiveness – Among more significant factors:

    • Dedicated Right of Way • Busway Alignment • Off-Board Fare Collection • Priority Signals • Platform Level Boarding

    • TOD – Perceived risk to capital (BRT vs. LRT) – Competitive advantage in real estate market – Subarea infrastructure investments – Planning vision and cohesion among property

    owners – Connectivity – employment/res/entertainment – Strength of local real estate market

  • Seattle South Lanke Union Streetcar

    Portland Streetcar

    Boston Washing Street Silver Line Bus

    Boston Waterfrton Silver Line bus

    ClevelandHealthLine BRT

    Las Vegas Strip and Downtown Express BRT

    Eugene Emerald Express Green Line BRT

    Pittsburgh MLK Jr. East Busway BRT

    Los Angeles Orange Line BRT

    Ottawa Transitway BRT

    PortalndMAX Blue Line LRT

    Denver Central Corridor LRT

    Phoenix Metro LRT

    Charlotte Lynx LRT

    Denver Southwest Corridor LRT$0

    $1,000

    $2,000

    $3,000

    $4,000

    $5,000

    $6,000

    $7,000

    $8,000

    -$200 $300 $800 $1,300 $1,800 $2,300

    TOD

    Inve

    stm

    ent

    Mill

    ions

    Transit Investment Millions

    Street Car Bus BRT LRT/Street Car

    What do the data tell us?

    ECONOMIC & PLANNING SYSTEMS 4

    • Ratio of $ spent on

    transit and $ invested in TOD

    • BRT out leverages LRT 6:1 in TOD effectiveness

    • Without outliers, maintains a 2:1 ratio

    • Lower transit cost yields more “bang for the buck”

    • Causality a question • Source: ITDP -- Hook Lotshaw, Weinstock

    TOD $ / Transit $

  • Boulder, CO

    ECONOMIC & PLANNING SYSTEMS 5

  • Longmont, CO

    ECONOMIC & PLANNING SYSTEMS 6

  • Colfax Avenue, Denver, CO

    ECONOMIC & PLANNING SYSTEMS 7

  • Colfax Avenue, Denver, CO

    ECONOMIC & PLANNING SYSTEMS 8

    29.8

    23.1

    8.0

    2.9

    7.8

    14.7

    18.6

    11.9 10.1

    6.3

    34.2

    8.0 4.6

    9.0 5.2

    8.6 10.6

    3.6

    0.0

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    Stations

    Slide Number 1What makes TOD on BRT Work?Why is BRT gaining traction?Key VariablesWhat do the data tell us?Boulder, COLongmont, COColfax Avenue, Denver, COColfax Avenue, Denver, CO

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BRT and TOD September 20, 2017 Presented by: Andrew Knudtsen, Managing Principal Economic & Planning Systems The Economics of Land Use Oakland Sacramento Denver Los Angeles
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