Transit-oriented development (TOD) is compact, mixed-use development near transit facilities and high-quality walking environments. The TCRP study concludes that the typical TOD leverages transit infrastructure to promote economic development and smart growth, and to cater to shifting market demands and lifestyle preferences. TOD is about creating sustainable communities where people of all ages and incomes have transportation and housing choices, increasing location efficiency where people can walk, bike and take transit. In addition, TOD boosts transit ridership and reduce automobile congestion, providing value for both the public and private sectors, while creating a sense of community and place.
According to the TCRP study, the potential benefits of TOD are social, environmental, and fiscal. Focusing growth around transit stations capitalizes on expensive public investments in transit by producing local and regional benefits. The most direct benefit of TOD is increased ridership and the associated revenue gains. Other primary benefits include the vitalization of neighborhoods, financial gains for joint development opportunities, increases in the supply of affordable housing, and profits to those who own land and businesses near transit stops. Secondary benefits include congestion relief, land conservation, reduced outlays for roads, and improved safety for pedestrians and cyclists.
|This EPA report provides communities with a comprehensive guide of tools and strategies that are available for financing and funding for TOD infrastructure. It provides examples of how some communities are using specific tools for individual infrastructure components, as well as strategies for combining and bundling tools to create plans that address construction phasing and market growth over time.|
|FTA and the American Public Transportation Association cosponsored a Center for Transit-Oriented Development webinar on|
|FTA sponsored a Center for Transit-Oriented Development publication entitled|
Detailed FTA Transit-Oriented Development webpages.