Apr 02 2018
Public transportation not only provides essential mobility to millions of Americans, but it also anchors communities and drives economic development.
“Transit-oriented development” (TOD) refers to the way public transportation helps drive new investment in residential and commercial development along transit lines because ready access to public transportation helps attract new residents and businesses alike. TOD neighborhoods include a mixture of residences, stores, offices, and services, all located within a half-mile of public transit, and they are helping transform communities—and lives—throughout the nation.
Households in transit-oriented neighborhoods spend, on average, 15 percent of their income on transportation, compared to 28 percent in neighborhoods without public transit access. In addition to lowering transportation costs, transit-oriented development:
The 2015 Fixing America’s Surface Transportation (FAST) Act includes key provisions to support transit-oriented development. The FAST Act reauthorized and expanded the Transportation Infrastructure Finance and Innovation Act (TIFIA) to include qualifying transit-oriented development projects. The FAST Act also provides continued funding for the Federal Transit Administration’s transit-oriented planning grant program.
While the FTA has awarded many transit-oriented planning grants to large cities, smaller communities have also benefited:
Some Americans—and even some lawmakers—mistakenly think federal transit funding only benefits large metropolitan areas. Simply not true. The FAST Act is reaching communities of all sizes—and public transit is helping drive smart investment and development in suburbs, small towns, and rural areas alike.
Raising awareness about the “hidden” benefits of public transportation, like transit-oriented development, will be key as elected officials continue to debate the budget and consider infrastructure legislation. Public transit does much more than provide mobility, it transforms communities of all sizes.