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NJ Future Forum 2012 Investing Strategically in TOD Evans
 

NJ Future Forum 2012 Investing Strategically in TOD Evans

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Transit stations are becoming increasingly attractive as redevelopment sites that advance numerous societal goals, including revitalizing distressed urban centers; reducing vehicular travel and its ...

Transit stations are becoming increasingly attractive as redevelopment sites that advance numerous societal goals, including revitalizing distressed urban centers; reducing vehicular travel and its resulting traffic congestion and greenhouse gas emissions; and promoting a more compact, "downtown"-style development pattern. This presentation describes a tool for prioritizing transit-oriented development (TOD) incentives toward specific places, with the goal of fostering at any given station the particular kind of development (residential, retail, employment) that makes the most sense there.

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    NJ Future Forum 2012 Investing Strategically in TOD Evans NJ Future Forum 2012 Investing Strategically in TOD Evans Presentation Transcript

    • Investing Strategically inTransit-Oriented Development Tim Evans • New Jersey Future Redevelopment Forum • March 9, 2012 #njforum12
    • New Jersey Future is a nonprofit, nonpartisan organization that brings together concerned citizens and leaders to promote responsible land-use policies.The organization employs original research, analysis and advocacy to build coalitions and drive land-use policies that help revitalize cities and towns, protect natural lands and farms, provide more transportation choices beyond cars, expand access to safe and affordable neighborhoods and fuel a prosperous economy.
    • Transit Ridership to the Big City70.6 percent of NJ residents who work in Manhattan ride transit to work (39.1 percent by rail or ferry and 31.5 percent by bus)24 percent of NJ residents who work in Philadelphia ride transit to work (20 percent by rail and 4 percent by bus)Intra-New Jersey commuting only manages a 5percent transit ridership rate – no better than thenational average. WHY?
    • The Problem: Job losses near transit; job gains along the highway[traffic-maximizing strategy] Data source: NJ Department of Labor Spatial data sources: NJTransit (rail lines); NJ Department of Environmental Protection (county and municipal boundaries)
    • The Solution:Put jobs back near transit88 percent of employed New Jerseyans work in NJ, but only 5 percent ofintra-state commuters ride transit…definitely room for improvementBONUS: Redevelopolder, often distressed jobcenters
    • Urban Transit Hub Tax Credit Act• Tax credit for creating jobs near a train station• 9 (mostly) distressed municipalities initially deemed eligible: Camden, East Orange, Elizabeth, Hoboken, Jersey City, Newark, New Brunswick, Paterson, Trenton• Who else ought to be on this list?
    • More Transit Hubs…But Where? [suggestions from Getting to Work]Can we be systematic about prioritizing candidates?
    • Prioritizing TOD InvestmentsDatabase of all 243 distinct transit stations inNew Jersey:• 12 ferry terminals• 16 major bus terminals not served by any other modes• 205 served only by rail• 10 multi-modal stations
    • Prioritizing TOD Investments• Operating characteristics of each station: current ridership, number of lines/modes serving, parking spaces available, transfers required to reach major destinations• Characteristics of station neighborhood [as defined by NJT]: median HH income, vehicle ownership, population density, vacant housing units – basically ANY data published at Census tract level• Characteristics of station’s host municipality: per- capita property tax base, property tax rate, land development (% built-out) – basically ANY data published at muni level
    • Prioritizing TOD Investments10 multi-modal transit stations:• Hoboken Terminal: all 3 rail modes, bus terminal, ferry• Newark – Penn Station: all 3 rail modes + bus terminal• Trenton: commuter rail [NJT + SEPTA], LRT, bus terminal• Walter Rand Transp. Ctr. (Camden): LRT (River Line), rapid transit (PATCO), bus terminal• Journal Square [Jersey City]: rapid transit (PATH) + bus terminal• Exchange Place [Jersey City]: rapid transit (PATH) + ferry [HBLR station also nearby]• 4 have commuter rail and are bus terminals: Metropark, New Brunswick, Asbury Park, Atlantic City ▪ = one of the 9 municipalities eligible for Urban Transit Hub tax credit
    • Population density (2009) > 20,000 per square mile in station area• 9th St. (HBLR) [Hoboken]• 2nd St. (HBLR) [Hoboken]• Hoboken Terminal• Harborside (HBLR) [Jersey City]• Grove St. PATH [Jersey City]• Lincoln Harbor (HBLR) [Weehawken]• Bloomfield Ave (Newark Subway) [Newark]• Journal Square [Jersey City]• Harsimus (HBLR) [Jersey City]• Park Ave (Newark Subway) [Newark]• Orange St. (Newark Subway) [Newark]• Elizabeth
    • Population density > 10,000 per square mile and not already eligible for UTHTC• Lincoln Harbor (HBLR) [Weehawken]• Delawanna [Clifton]• Silver Lake (Newark Subway) [Belleville]• Orange• Grove St. (Newark Subway) [Bloomfield]• Garfield• Highland Ave [Orange]• Watsessing Ave [Bloomfield]• Anderson St. [Hackensack]• Perth Amboy• 22nd St. (HBLR) [Bayonne]• Kingsland [Lyndhurst]
    • > 15% vacant housing units (excluding shore towns)• Entertainment Center (River Line) [Camden]• Asbury Park• Aquarium (River Line) [Camden]• Walter Rand Transp. Ctr. [Camden]• Cooper St. (River Line) [Camden]• City Hall PATCO [Camden]• Trenton• Hamilton Ave (River Line) [Trenton]• East Orange• Atlantic City• Park Ave (Newark Subway) [Newark]• Garfield Ave (HBLR) [Jersey City]
    • > 10% vacant housing units and not already eligible for UTHTC• Asbury Park• Atlantic City• Long Branch• Somerville• Harrison PATH• Bound Brook• Passaic• 22nd St. (HBLR) [Bayonne]
    • > 45% of households having zero vehicles available• Warren St. (Newark Subway) [Newark]• Washington St. (Newark Subway) [Newark]• Newark Airport [Newark]• Norfolk St. (Newark Subway) [Newark]• Military Park (Newark Subway) [Newark]• Journal Square [Jersey City]• Paterson• Newport / Pavonia [Jersey City]• Newark – Penn Station
    • > 25% of households having zero vehiclesavailable and not already eligible for UTHTC• Atlantic City• Harrison PATH• Lincoln Harbor (HBLR) [Weehawken]• 22nd St. (HBLR) [Bayonne]• 34th St. (HBLR) [Bayonne]• Perth Amboy• Silver Lake (Newark Subway) [Belleville]• Orange
    • Prioritizing TOD Investments Can we be systematic about prioritizing candidates? YES
    • Thank you! Tim Evans Director of Research timevans@njfuture.org New Jersey Future 137 W. Hanover St. Trenton, N.J. 08618 609-393-0008 ext. 103http://www.njfuture.org