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The agency intends to build residential, commercial, or mixed-use developments near transit through partnerships with both the public and private sectors.
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The Atlanta Affordable Housing and Transit-Oriented Development (TOD) Initiative is a multi-product program designed to promote and support the development of ground-up mixed-income TOD projects.
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The study examined how TODs could be an effective tool to ease the housing affordability problem by increasing housing supply and reducing transportation costs in transit-rich neighborhoods.
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FTA’s Pilot Program for TOD Planning supports local planning and strategies to increase transit access and encourage ridership through mixed-use and mixed-income development near public transportation projects.
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Sound Transit and the City of Bellevue worked together on a plan to integrate the OMF East into the city’s plans for the developing BelRed corridor.
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The planning programs will support the Federal Transit Administration’s (FTA) stated goals of increasing access to affordable housing options.
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The first $25 million will fund pre-development activities like site due diligence, engineering, and permitting, while the remaining $75 million will support the construction of new affordable housing, which is expected to begin within five years.
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The competitive grant funds are provided through FTA’s Pilot Program for Transit-Oriented Development Planning.
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Projects involve the construction of commercial, residential, or mixed-use projects near transit or on transit system-owned land.
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Researchers from the Economics Research Group at the University of North Texas (UNT) reviewed 81 development projects completed within a quarter mile of DART stations with a total property value of $5.138 billion between 2016 and 2018.
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