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Agencies Announce TOD Plans, Report Growing ROI: MARTA, St. Louis Metro, Foothill Gold Line Projects Are Building Communities

Three public transportation agencies recently announced plans or studies emphasizing the critical partnership between public transit and community development—the Metropolitan Atlanta Rapid Transit Authority, St. Louis Metro and the Foothill Gold Line Construction Authority.

Brief reports of these TOD initiatives follow.

At MARTA, developer Columbia Ventures will create the “E. Co” mixed-use development on a 7.7-acre parking lot on the agency’s Avondale Station property in downtown Decatur, GA. In addition to senior housing, being developed in partnership with Columbia Residential, the TOD will offer more than 370 market rate apartments in a joint venture with Cortland Partners, as well as retail and restaurant space. The Decatur Downtown Development Authority also is a partner in the project.

“Thirty-seven years ago, MARTA broke ground on this plot of land, unearthing what would become one of several rail stations that were constructed in 1979,” said MARTA General Manager/Chief Executive Officer Keith Parker. “At that time, Atlanta had what was considered robust bus service, but MARTA’s board of directors and several progressive-thinking community and business leaders saw the economic benefits more residents could experience if heavy rail were added. Now, almost four decades later, we have the opportunity to continue with that dynamic train of thought with E. Co.”

At St. Louis Metro, Bi-State Development, operator of Metro, has entered into a partnership with the Southwestern Illinois Development Authority and Bywater Development Group on a $10.5 million TOD project that will create senior apartment living adjacent to the Swansea MetroLink Station in Swansea, IL. Construction is scheduled to begin in summer 2017 and completed the following year.

“This new development to be positioned next to the Swansea MetroLink Station reflects other successful transit-oriented projects in our area and is a testament to the positive benefits the Metro transit system brings to the region,” said John Nations, president and chief executive officer of Bi-State Development.

The Metro Landing of Swansea development will feature a three-story building with 62 affordable one- and two-bedroom apartments. Its proximity to the MetroLink light rail station will provide convenient, car-free access to restaurants, retail, entertainment venues, recreational locations, employment centers and medical facilities around the bi-state region.

The Foothill Gold Line Construction Authority, Monrovia, CA, reports substantial return on public investment from current and projected TOD located within a half-mile radius of a Gold Line light rail station. The 18-station line currently connects downtown Los Angeles and Asuza.

Two reports, commissioned by the construction authority and prepared by local consultants, quantify the number of housing units, hotel rooms and square feet of commercial space built along the corridor since the Gold Line’s first segment opened for passenger service in 2003 and planning began for the extension from Pasadena to Montclair. The reports also highlight the private investment made from the developments and the resulting overall economic impact the TOD projects have had on the regional economy.

One study, Foothill Gold Line Transit Oriented Development Update, reports $6.7 billion in private TOD investment near the stations since 2003, including more than 12,500 new housing units, 3.6 million square feet of commercial space and 1,400 hotel rooms. It also shows that a full buildout of a specific segment of the line could add 17,000 more housing units, 10 million additional square feet of commercial space and 250 more hotel rooms, generating $100 million more in annual tax revenues to Los Angeles County.

The second study, Economic and Fiscal Impacts of Transit Oriented Development at Gold Line Foothill Extension Pasadena Stations, shows that projects built or underway within one-half mile of  six  stations alone amount to $3.3 billion in economic output, roughly 20,700 jobs, $1.1 billion in labor income and $66.3 million in tax revenues.

The reports are available here.

An artist's rendering of TOD at MARTA's Avondale Station.

 
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