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Preserving Affordability and Access in Livable Communities: Subsidized Housing Opportunities Near Transit and the 50+ Population
September 30, 2009
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Executive Summary
INTRODUCTION
A livable community has affordable and appropriate housing, supportive features and services, and adequate mobility options for people, regardless of age or ability. As communities address the general shortage of affordable housing, preserving affordable housing in transit-oriented developments (TODs) is one of the challenges that communities can address to increase their livability.
TODs are compact, walkable, mixed-use communities that are developed around high-quality public transportation. Residents often prize these places for the advantages created by the proximity to transportation and other amenities. One consequence of this desirability is that it can increase land and property values, exacerbating housing affordability challenges.
As policymakers try to extend the benefits of TODs to affordable housing locations, they must ensure that those benefits are available to people of low and moderate incomes and to those with different mobility…
Financing Transit-Oriented Development
November 21, 2008
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Executive Summary
Since its inception in 1997, MTC’s TLC Program has achieved tangible transportation improvements that support regional livability in the Bay Area. The recent evaluation of the TLC program recommended “continuing to strengthen the land use connection within the TLC Program” by supporting transit-oriented development (TOD) and infill projects. TOD and infill are both critical to the continued healthy growth of the Bay Area, by reducing Vehicle Miles of Travel (VMT), reducing the combined costs of housing and transportation, and making more efficient use of transportation infrastructure.
There are, however, real challenges to TOD and infill development. Even after station area or downtown plans are adopted, TOD and infill development projects still face significant financial and regulatory barriers that impede construction. The financial barriers include higher land costs around transit stations, infrastructure upgrades needed to support increased density, the…
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