The agency intends to build residential, commercial, or mixed-use developments near transit through partnerships with both the public and private sectors.
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.
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.
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.
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.
The planning programs will support the Federal Transit Administration’s (FTA) stated goals of increasing access to affordable housing options.
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.
The competitive grant funds are provided through FTA’s Pilot Program for Transit-Oriented Development Planning.
Projects involve the construction of commercial, residential, or mixed-use projects near transit or on transit system-owned land.
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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