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From page 137... ... 113 8.1 Introduction At the beginning of this guide, JD was defined as "real estate development that occurs on transit agency property or through some other type of development transaction to which the transit agency is a party." In modern U.S. practice, the most common form of JD still occurs on transit-owned real property (land, air rights, or commercial space) Read the entire page →
From page 138... ... 114 Guide to Joint Development for Public Transportation Agencies where they are most likely to own off-street real estate or to be able to otherwise participate in JD transactions. JD projects at hub stations and transit centers vary in scale, complexity, and types of service. Read the entire page →
From page 139... ... Joint Development Horizon 115 The new vertical development on the rail yard includes roughly 1.35 million square feet, which became the catalyst for millions more on the adjacent blocks. An innovative value capture strategy was created, in which two U.S. Read the entire page →
From page 140... ... 116 Guide to Joint Development for Public Transportation Agencies will be expected to build and/or operate and maintain a variety of public space, common areas, and even rail passenger facilities not involved in actual boarding, disembarking, and rail operations. Using a two-step RFQ/RFP process (as described in Chapter 4) Read the entire page →
From page 141... ... Joint Development Horizon 117 27-berth, at-grade bus terminal; a small parking structure; and the restoration of the historic station building with waiting rooms, public space, retail and food concessions on the ground floor and two floors of office space above. PVTA is a tenant in the completed project, leasing the primary use of the bus terminal and a share of the ground floor interior for 95 years. Read the entire page →
From page 142... ... 118 Guide to Joint Development for Public Transportation Agencies A priority is a KCATA park & ride lot at Third Street and Grand Boulevard in the River Market District on the northern edge of downtown. Several regular bus routes, the MAX bus rapid transit route, and the streetcar all converge at this location. Read the entire page →
From page 143... ... Joint Development Horizon 119 Transit Center, which houses MATA's own bus terminal, Greyhound's Memphis terminal, and a food court.9 But the JD opportunity may be more substantial, as demonstrated by Memphis Central Station and Springfield Union Station. Read the entire page →
From page 144... ... 120 Guide to Joint Development for Public Transportation Agencies • LA Metro's Expo/Crenshaw JD project, described in Section 3.4, involves a Metro parcel and an LA County parcel, which the two entities agreed to jointly market.12 The City as ground lease developer. Allianz Field in St. Read the entire page →
From page 145... ... Joint Development Horizon 121 Metro Transit, its parent the Metropolitan Council, and the city envision as a TOD/JD opportunity. Metro Transit owns 9.9 acres of the block, site of an old streetcar repair yard and bus barn acquired with FTA assistance in 1970. Read the entire page →
From page 146... ... 122 Guide to Joint Development for Public Transportation Agencies have been the foundation for dense, mixed-use TOD on Massport-owned land and air rights at and above the stations. • In Somerville, to facilitate the Green Line light rail extension, the Somerville Redevelopment Authority assembled a large TOD site encompassing the future Union Square Station. Read the entire page →
From page 147... ... Joint Development Horizon 123 agencies that have long recognized these developer-funded connections and improvements as a type of JD.17 An emerging business model that builds on this older one is for an adjacent land owner to fund a new station, in whole or in significant part. The station could be at an infill location where none had existed; it could improve or replace an existing station; or it could be one of the stations on a new or extended corridor. Read the entire page →
From page 148... ... 124 Guide to Joint Development for Public Transportation Agencies • Austin Red Line. In Austin, Capital Metro's Red Line commuter rail corridor includes a station (Kramer) Read the entire page →
From page 149... ... Joint Development Horizon 125 as in the case of Assembly, to cover all preconstruction activities. Otherwise, while the contribution may be welcome, it is unlikely to be pivotal. Read the entire page →
From page 150... ... 126 Guide to Joint Development for Public Transportation Agencies Sometimes, however, a transactional link does exist. For one thing, the value capture district may include a JD project in the traditional sense -- as in the case of the TIF and special assessment districts encompassing Denver Union Station; the large TIF district surrounding San Francisco's Transbay/Salesforce Center; or the early example of the TIF used by the City of Portland to fund its share of the Airport MAX light rail extension two decades ago. Read the entire page →
From page 151... ... Joint Development Horizon 127 There are other examples of district value capture involving multiple land owners, a coordinated planning process in which the transit agency is a partner, value generated by transit investments, and a contractual flow of value capture revenues to the underlying transit project: • The value capture mechanism used by the City of New York to fund the extension of the Number 7 Subway -- funded by the city and operated by the Metropolitan Transit Authority;23 • Miami-Dade County's Transportation Infrastructure Improvement District, a TIF enacted by the county (the parent jurisdiction of Miami-Dade Transit) within a half-mile radius of all existing metro rail stations and all future rail or BRT stations on the six planned expansion corridors (these revenues are dedicated to transit and other transportation improvements within the district) Read the entire page →
From page 152... ... 128 Guide to Joint Development for Public Transportation Agencies spacing and intersection criteria may be suitable for choosing a macro location, but TOD/JD potential should then govern the micro location. • Orientation and access routes can be as important as location. Read the entire page →
From page 153... ... Joint Development Horizon 129 • In 2017, KCATA and Jackson County, Missouri, issued an RFQ for a master developer to help plan future transit services and related TOD in the Rock Island Rail Corridor, which they jointly own. The RFQ stated a broad interest in determining how TOD/JD can be planned along the corridor from the outset. Read the entire page →
From page 154... ... 130 Guide to Joint Development for Public Transportation Agencies Station, one of three on the planned Federal Way Link Extension projects. The construction staging area necessary to build the station and light rail line was assembled in a way that supports the necessary traffic circulation improvements for the station area and future TOD. Read the entire page →
From page 155... ... Joint Development Horizon 131 In 2019, the Sound Transit board declared the TOD parcel surplus and authorized an RFP. This solicitation exemplifies several best practices discussed elsewhere in this guide. Read the entire page →
From page 156... ... 132 Guide to Joint Development for Public Transportation Agencies and 6,000 square feet of street floor retail. The project, under construction as of 2020, will incorporate the chiller equipment into the development, concealing it from the street.35 In 2019, WMATA initiated a larger non-station project, the 99-year ground lease of its existing headquarters site. Read the entire page →
From page 157... ... Joint Development Horizon 133 6. https://www.springfield-ma.gov/planning/index.php? Read the entire page →
From page 158... ... 134 Guide to Joint Development for Public Transportation Agencies 34. Potrero Yard: https://www.sfmta.com/projects/potrero-yard-modernization-project; https://www.sfmta.com/ sites/default/files/reports-and-documents/2020/02/potrero_yard_modernization_project_working_ group_meeting_presentation_10.pdf. Read the entire page →

From page 137...

... 113 8.1 Introduction At the beginning of this guide, JD was defined as "real estate development that occurs on transit agency property or through some other type of development transaction to which the transit agency is a party." In modern U.S. practice, the most common form of JD still occurs on transit-owned real property (land, air rights, or commercial space)