The Federal Transit Administration (FTA) announced nearly $10.5 million in grants to support the development and preservation of affordable housing near public transit in communities across the country.
Funding is awarded to 11 communities in 10 states through the Pilot Program for Transit Oriented Development (TOD) Planning, which is funded by the Bipartisan Infrastructure Law. Grants will advance a key part of the Biden-Harris Administration’s Housing Supply Action Plan by helping communities develop plans to encourage ridership aby developing housing and businesses near transit corridors.
“With many Americans spending so much of their income on transportation and housing, the Biden-Harris Administration remains focused on bringing these costs down,” said U.S. Transportation Secretary Pete Buttigieg. “With the funding we’re announcing today, we’re helping communities develop walkable, livable neighborhoods – with affordable housing options closer to public transportation – that will help lower these combined costs for more Americans.”
Benefits of Transit-Oriented Development
The FTA Prioritized project selections that included an affordable housing component.
TOD reduces reliance on single-occupancy vehicles, improves access, expands mobility options, and reduces greenhouse gas emissions and air pollution. It is shown to boos economic development and promote transit ridership by creating more opportunities for people to easily access rail and bus rapid transit stations, transit centers, and us stops.
Additionally, TOD increases access for people with disabilities who are transit dependent, especially those who need transportation to get to work. It can also accelerate the housing supply in communities with affordable housing plans or policies.
Third Round of Grants
This is the third round of TOD planning grants since the signing of the Bipartisan Infrastructure Law which will help make transit agencies make lasting changes in their communities by setting the stage for future development and job creation.
“Having a home of your own, that you can afford, means stability and faith in a better future,” said FTA Deputy Administrator Veronica Vanterpool. “Today, we are delivering funding that will help invigorate local and regional economies and create new opportunities for people who live and work in these cities, towns, and suburbs.”
A full list of the selected projects is available here.
Some highlights include the Maryland Transit Administration and The University of Maryland, The city of Oklahoma City and the Central Oklahoma Transportation and Parking Authority, and The Santa Clara Valley Transportation Authority.
The FTA received 32 eligible project proposals totaling nearly $30 million in requests.
The Bipartisan Infrastructure Law provides $68.9 million in funding for the Pilot Program for TOD Planning through 2026, a 38% increase over the prior five years of funding. Since 2015, the FTA has provided approximately $133 million in federal support to fund TOD planning activities in 36 states.
