Transit: Economic development for the 21st Century | New Urban Network - 1 views
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Ihering Alcoforado on 05 Apr 11Transit: Economic development for the 21st Century Blog post by Robert Steuteville on 05 Apr 2011 feature codes development economy highways transit/transit-oriented dev. Graph 1 Source: Center for Transit-Oriented Development Graph 2 TOD by year in Denver. Source: Center for Transit-Oriented Development Robert Steuteville, New Urban Network A study of development around three recent light rail transit lines in Denver, Minneapolis-St. Paul, and Charlotte found 24 million square feet of residential and commercial construction (see Graph 1). That's a tremendous burst of transit-oriented development (TOD), especially given that much of it occurred after the US housing market began to collapse (see Graph 2). The development was largely focused near downtowns and other employment areas of the three cities. Factors besides transit contributed to this construction, but transit was a major impetus to growth. If the construction industry throughout much of the US had behaved as it did within a half-mile of these new transit stations, we would have had no recession in real estate. Therein lies a way out of our economic malaise. The US building industry is currently on pace to add a quarter-million new houses this year, the lowest since records have been kept for nearly 50 years. That figure will rise substantially only with the right kind of transportation investments, which have historically spurred new housing and commercial development. Since World War II, new infrastructure has consisted mainly of highways. The massive highway construction fueled growth through the first half of the last decade, but that approach won't work anymore. When highways were built through countryside close to compact cities, they spurred huge amounts of construction. That, however, was when gas was cheap and the room to spread out was plentiful in rapidly growing metropolitan areas. Highway-oriented development tends to be low-density development, because nobody wants to live in a compa