IF TRANSIT COMES, CAN A REAL ESTATE DEVELOPER BE FAR BEHIND?

MOST TRANSIT OFFICIALS ARE WELL AWARE THAT INSTALLATION OF A RAIL RAPID TRANSIT LINE ATTRACTS REAL ESTATE DEVELOPMENTS WHOSE ECONOMIC BENEFITS PAY FOR THE TRANSIT SYSTEM MANY TIMES OVER. THE MOST RECENT EXAMPLES ARE TORONTO AND SAN FRANCISCO. IN THE LATTER CASE A DEVELOPER SUCCESSFULLY PUT IN A $45 MILLION RESIDENTIAL DEVELOPMENT LOCATED 20 MINUTED BY CAR FROM THE END OF THE TRANSIT LINE; PEOPLE WERE ATTRACTED BY THE PROSPECT OF MEDIUM PRICE HOUSING WITH GOOD ACCESS TO THE CITY. THREE OTHER PROSPERING DEVELOPMENTS HAVE BEEN PUT IN WITHIN SHORT DISTANCES OF BART STATIONS. IN GENERAL, HOWEVER, DEVELOPERS ARE INTERESTED IN ACCESS, NOT THE FORM IT TAKES. WHERE THEY SUPPORT TRANSIT, OR BUILD THEIR PLANS AROUND IT, IT IS USUALLY BECAUSE THE STREET AND HIGHWAY SYSTEM IS INADEQUATE, FOR THE CHOSEN LOCATION, TO COPE WITH THE ANTICIPATED INTENSITY OF DEVELOPMENT THAT DEMAND WILL PRESUMABLY SUPPORT. TRANSIT IS PREFERABLE FROM THE STANDPOINT OF INTENSITY BECAUSE IT MEANS THAT A CERTAIN AMOUNT OF PARKING CAN BE DISPENSED WITH AND THE SPACED UTILIZED MORE PRODUCTIVELY. AN ADDED FACTOR IN THE CONFIDENCE INSPIRED BY NEW LINES IS THAT THEY ARE GENERALLY LAID OUT IN CONJUNCTION WITH OVERALL DEVELOPMENT PLANS FOR A METROPOLITAN AREA.

  • Availability:
  • Supplemental Notes:
    • Vol 171, No 9, PP 32-34, 4 PHOT
  • Authors:
    • Asher, J
  • Publication Date: 1971-11-8

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Filing Info

  • Accession Number: 00240690
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Dec 20 1971 12:00AM