Exploiting Transit s City Shaping Powers Robert Cervero University of California, Berkeley

Transcription

1 Exploiting Transit s City Shaping Powers Robert Cervero University of California, Berkeley Session on: TOD TRANSIT AS AN ENGINE FOR URBAN DEVELOPMENT

2 Metros & Urban Development: Experiences in Toronto & San Francisco Toronto s Yonge Street Corridor San Francisco BART Key Drivers: Accessibility & Agglomeration TOD leveraged by: Tax Increment Financing (TIF) Transfer of Development Rights(TDR) 20 Study, R. Cervero, 20 Years of BART: Land Use Impacts,1996. Targeted Investments

3 WASHINGTON METRORAIL Washington Metrorail as a Growth Magnet ( has become more rail-oriented with time) : 40% of region s office & retail space built within walking distance of Metrorail Station Today: ~100 million ft 2 under construction or planned; 86% <500 m of Metrorail station Rosslyn Court House Tysons Corner Transformation Necklace of Pearls

4 Mobility Investments:Urban development secondary, or afterthoughts if that Bogotá: Station Area Land Use Changes, Matched Pair Comparisons Americas Corridor H. Suzuki, R. Cervero, K. Iuchi, 2013, Transforming Cities with Transit, World Bank. Intermediate Station Pairs Ahmedabad, India: Janmarg BRT People s Way Minimal Land Use Impacts: Little commitment to density: Restrict FARs to de congest core; uniform densities/little articulation BRT routed in marginal areas Crowded, Unattractive station environs

5 Preconditions to Transit-Leveraged Land Development Knight & Trygg, 1977, Evidence of Land Use Impacts of Rapid Transit Systems, USDOT.

6 Under Performing Asphalt

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9 Urban Infill/ Adaptive Re Use Santa Clara County: Light Rail Surrounded by Boxes & Pavement to Mixed-Use Centers San Jose s Cottle Transit Village Infill of former IBM Campus near 3 rail stops Right size Tech campus two 4 story towers replace boxes: our employees do not want to be in a business park. Live Work Shop Play: 2 commercial centers; homes Reduced Parking : 35% below code Rewards: 25% reduction in Traffic Impact Fees

10 TOD = POD: Great Walkable Communities inter-laced by Great Public Transport LRT Strasbourg BRT Bogotá HRT Oakland

11 Leveraging TOD Transit Joint Development: PPP on Transit Agency s land or air rights; win win through revenue sharing/cost sharing Transit Value Capture: Service provider recaptures value added created by transit investment and accessibility improvements Atlanta Tokyo Brisbane

12 Atlanta U.S. Transit Joint Development Prototypes, 2002 Ground Lease 7 43 Manhattan Air Rights Lease Operations Cost Sharing Negotiated Private Contribution Bethesda MD Midtown Manhattan Construction Cost Sharing 7 18 Station Connection Fee Benefit Assessment Districts Los Angeles Equity Partnerships 1 4 Incentive Agreements 1 0 Bus Rail Washington No. of Transit Agencies

13 Land Value Capture Instruments Tax or Fee based LVC & Development-based LVC (DBLVC) Tax & Fee Based Development Based Instrument Property and Land Tax Betterment Levies and Special Assessments Tax Increment Financing (TIF) Exactions/Impact Fees Land Sale or Land Lease Air Right Sale Land Readjustment Urban Redevelopment Financing

14 Tsing Yi MTR s property developments along rail line Hong Kong s R+P (Rail + Property) Making $$$ off of TOD & Place making R. Cervero & J. Murakami, Rail + Property Development in Hong Kong, Urban Studies, 2009.

15 Sustainable Rail Business under R+P Model 2014 Operating Profit Contributions 2013 Operation Profit Distribu Unit: HK$ Billion (Unit: $Billion) (US$1 = HK$7.8) Property Rental 27% 24% Railway Operation US$1.1bn 10% 32% Property Development Station Commercial Page /4/11 MTR Corporation Limited

16 Rail+Property Value-Capture Model Tung Chung Station Development Key Features: Hong Kong SAR is majority shareholder of MTR Kowloon Station Development Land premium is negotiated with Government on a pre-rail, greenfield basis * Property packages awarded through competitive bidding ( post-rail ) MTR oversees the design & construction Profit sharing with MTR Percentage of profits Assets in kind Tseung Kwan O LOHAS Park Development *Greenfield basis = market value ignoring the presence of the railway MTR Corporation Limited 2018/4/11 Page 16

17 Sustainable Urbanism & Sustainable Finance Hong Kong T 2 Walkability Audit 1 T Key Walking Path Destination Public Transport Interchange Metrics: 1. Connectivity & Integration 2. Retail & Pedestrian Links 3. Amenities, Aesthetics, Openness 4. Legibility & Focus Source: R. Cervero & J. Murakami, Rail + Property Development in Hong Kong: Experiences and Extensions, Urban Studies, Vol. 46, No. 10, pp , 2009

18 Place-making & Value 1980s-90s Pre-Placemaking Station Access MTR s TOD Concept Plan Post-2000s Place-making Station Access Ped-Friendly Access & Place-making Designs Increased Profits ~ 25%; Ridership Bonus ~ 20%

19 LOHAS Park: TOD for 68,000 People Pedestrian Network To other residential development Residents can walk to all facilities in pedestrian friendly zones without having to cross any roads. Primary Walkway Secondary Walkway LOHAS Park Station Station Exit To regional open space and soccer school To non polluting industrial estate To other residential development 2018/4/11 MTR Corporation Page 19

20 NYC: Transfer of Development Rights (TDR) Piling Up Densities Near Subway Stations Midtown East Rezoning Project TDR used to raise US$750 million through the sale of Air Rights (for 20 years) to developers in Midtown Manhattan in Floor Area Ratios (FARs) & Subway Stations

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22 Brazil: Regulating & Auctioning Off Urban Densities Rio s Porto Maravilha CEPAC: Certificates of Additional Construction Potential Creating Privileged Districts Shared Prosperity = Social Justice Bogotá Metrovevienda Curitiba s Linha Verde

23 SINGAPORE: Filling the First Mile/Last Mile Connectivity Gap: Even with Transit Metropolis, most people will live & work > 1 KM of station People Mover Autonomous Station Cars: Pilot Test Autonomous Shuttles on 3 routes First Mile/Last Mile Feeders

24 Fortaleza, Brazil First Last Mile Connectivity through Over Night Bike Sharing: 14 hours bike access tied to bus or metro fare ( metro to home in evening; home to metro the next morning) Smart BRT Imprinting Metro

25 Close Planning & Design Matter:Transit should be more than mobility investments; exploit transit s city shaping opportunities an integral, upfront part of system planning, not an afterthought. Pro activism & Leveraging:risk & benefitsharing; co development.