DELIVERING ON THE TRANSIT PROMISE
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1 DELIVERING ON THE TRANSIT PROMISE Dena Belzer October 6, 2015
2 Presentation Overview 1. Puget Sound As a Transit Region: Putting SeaTac in Context 2. Starting at the Beginning: How Does TOD Work? 3. Strategies t for TOD Planning 4. Implementing TOD Area Plans 5. Concluding Thoughts
3 Puget Sound as a Transit Region: Putting SeaTac in Context
4 Implementing Vision 2040 Puget Sound s Long Range Growth
5 The Growing Transit Communities Strategy Goals: Attract more of the region's residential and employment growth to high capacity transit communities. Provide housing choices affordable to a full range of incomes near high-capacity transit. I t t it f i ti d Increase access to opportunity for existing and future residents of transit communities.
6 Growing Transit Communities Implementation
7 SeaTac has Signed the Compact
8 SeaTac s Regional Tools and Typology Have Been Identified
9 Regional Strategies Include: Station area planning, focus on long-range vision and transitional uses Long-range capital facilities plan with phased infrastructure and public realm investments Community needs assessments and targeted investments Affordable housing preservation
10 SeaTac has Station Area Plans South 154 th Street Station Area Action Plan Angle Lake Station Area Plan City Center Plan
11 But Does SeaTac Have TOD? Maybe not quite yet - So how do we get there?
12 Starting at the Beginning: How Does Starting at the Beginning: How Does TOD Work?
13 Development Near Transit Transit Oriented Development (TOD) Existing and new development located within ¼ Existing and new development located within ¼ to ½ mile of a frequent transit station/stop (really a district) Located in an area where it is also easy to bike/walk around the district and to transit Derives a benefit from the access transit provides to other places in the region
14 TOD Takes Many Forms
15 TOD Also Responds to Different Kinds of Transit Corridors Destination Connectors Commuter Corridors District Circulators
16 Station Areas Along the Same Corridor Can Have Different Uses and Character Townhouses Condominiums i Live/Work Lofts
17 Development Trends on 3 New Rail Corridors Show How TOD Can Evolve Hiawatha Line (Minneapolis) Southeast Corridor (Denver Region) Blue Line (Charlotte)
18 There Has Been Significant Development Along These Transit Corridors 12,000,000 Estimated Sq quare Feet of Ne ew Developmen nt 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 0 Minneapolis Hiawatha Line ( ) Denver SE Corridor ( ) Charlotte Blue Line ( ) Commercial Residential
19 But, the Pattern of Development is Uneven Hiawatha Line Context of Opportunity Sites and Development Downtown/Urban Center Suburban Center 0% 50% 100% Legacy Industrial Area Mixed-Use Neighborhood Commercial Corridor Industrial/Distribution Area Percent Vacant/ Underutilized Share of Development Low Density Residential Major Greenfield/Infill Other
20 What Types of Places Attracted Development? YES In or near downtowns or employment centers Legacy industrial districts i t Districts where plans were in place and strategic investments were made NO Small infill sites on strip corridors Very large greenfield sites on the edge Large formerly industrial sites
21 Key Factors That Determine Where Development Happens Market conditions (of course) Frequency & quality of transit service Proximity to employment centers Accessibility by many modes (car, bike, ped) Planning and place-making
22 Strategies for TOD Planning
23 The Definition of a Transit Oriented District is Evolving Access is Key
24 Trying to Maximize Density Doesn t Always Work Developer Profit in Jillio ons $6.0 $5.0 $4.0 $3.0 $2.0 $1.0 $ Density
25 In Reality Higher Density Projects Can be Less Profitable to Developers b1 b1 b2 b2 b3 b3 b4 b4 Underground d Stories Parking Units FAR 55' 75 ' 85" 100' 120' 140' 180' Seventeen Five story Seven story Seven story Nine story Eleven story Thirteen story story Story 7-Story 7-Story 9-Story 11-Story 13-Story 17-Story
26 Sometimes Removing Regulatory Barriers Can Make a Big Difference $70 3-Story Residential Building (in millions of dollars) $70 5-Story Residential Building (in millions of dollars) $60 $60 $50 $50 Land Costs $40 $40 Other Costs 1 $30 $20 $10 Land Costs Other Costs 1 City Fees Construction Costs $30 $20 $10 City Fees Construction Costs $0 Construction Costs Developer Revenues $0 Construction Costs Developer Revenues 1 "Other costs" include design, legal, financing, and marketing, and other "soft" costs. Source: Strategic Economics 2010
27 Public Realm Improvements Are Critical For Spurring Private Investments in Slower Markets Type Description Impact Streetscape General streetscape improvements 28% increase in home values Open space Walkability Site remediation Transit Transit Presence of neighborhood parks and playgrounds Walkscore improved from 20 to 80 points Remediation of brownfield sites Proximity to transit Proximity to transit 3 15% increase in home values 54% price premium for office and retail property 3 11% increase in housing prices 2 32% price premium for single family homes 1-120% price premium for commercial real estate
28 Local Last Mile Connections Can Also have Economic Benefits Bike Share = Additional $150,000 in rider expenditures (Minneapolis) Urban Bike Trails = As much as $846 million in economic impact (Indianapolis Cultural Arts Trail)
29 Implementing TOD Area Plans
30 Pivoting from the Big Vision to Getting Things Done 1. Build on existing assets and market momentum 2. Understand specific barriers 3. Look for specific solutions to overcome barriers 4. Partner and collaborate
31 1. Build on Existing Assets and Market Momentum Know your market strengths and work with them or the near term possibilities Understand your long term vision i in a market/location ti based context Know and leverage your other community assets
32 SeaTac s Station Areas Have Differing Market Potential Station Area Office Retail MF Housing Hotel South 154th SeaTac City Center South 200 th (Angle Lake) (2012)
33 Good News/Bad News About SeaTac s Current Market Conditions The market in SeaTac is picking up 154 th south and Angle Lake have good momentum But longer term trends suggest transit could have even an even bigger impact on the SeaTac market Sites to the north are absorbing Housing prices in Seattle are increasing More and more people are riding transit
34 2. Understand Specific Barriers Such as: Such as: SeaTac is a relatively small community Proximity to SouthCenter Proximity to Sea-Tac Airport Market perception of SeaTac Physical barriers created International Boulevard
35 3. Look for specific solutions to overcome barriers
36 Don t Forget the Value of Place Making
37 Think specifically about Access as an Asset Cultivate walking and biking to the station Consider surface parking only as an interim use Be very careful about where to locate parking garages g
38 4. Partner and Collaborate
39 Corridor Collaborative Matrix
40 Concluding Thoughts
41 Regional Strategies Priority Station area planning, focus on longrange vision and transitional uses Long-range capital facilities plan with phased infrastructure and public realm investments Community needs assessments and targeted investments Affordable housing preservation
42 SeaTac s Strategy: Maintain your vision Be flexible Stay focused Have patience
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