A “transit premium” can increase property values by anywhere between a few percentage points up to more than 150 percent.
TDM focuses on shifting travelers away from single occupancy-vehicle modes like biking, walking, bus, and rail. In many cases, however, TDM solutions and programs may address only a single alternative mode, or ignore the increasing diversity in how people – particularly younger generations – are traveling.
There is strong evidence of this narrow focus occurring frequently. Residential buildings may tout their WalkScore as a measure of pedestrian-friendliness. Or a commercial building may earn a Bicycle Friendly Business’ designation from the League of American Bicyclists. While these tools and designations are certainly valuable, sustainable buildings should have an an equitable distribution of transportation options and opportunities.
Most property owners and managers (and the business leaders who operate within them) can find ways to better promote and encourage a range of multi-modal options.
My contribution to helping them do so is the Multi-Modal Transportation Score (or what I like to call ModeScore for short). It measures the total accessibility of a given building, taking into account all possible sustainable transportation modes. My overarching goal is that building users will create and embrace programs to encourage and increase alternative travel.