While the debates around transit-oriented residential development continue, commercial TOD is picking up speed. Offices with nearby transited to fetch much higher rents than their car-only counterparts.
Getting to work without a car has its charms, especially for the young professional set. Increasingly, commercial developers are prioritizing projects within walking distance of transit hubs.
Joe Gose writes, "Office buildings with access to transit are outshining those without, fetching rents nearly 80 percent higher. That amounts to $45.57 a square foot versus $25.39 a square foot, according to a report released this year by Jones Lang LaSalle. Those same buildings have a vacancy rate 3.7 percentage points lower than offices without transit access."
As new transit gets built, office districts are liable to spring up nearby. "Areas that have experienced development near new rail systems or station openings include Fulton Market in Chicago; downtown Kansas City, Mo.; Austin, Tex.; and the RiNo neighborhood of Denver, to name a few."
FULL STORY: Transit Hubs: A Growing Lure for Developers
Massachusetts Releases Transit-Oriented Multifamily Housing Rules
Communities near transit stations will have to comply with a new set of regulations that support multifamily development and increased housing density.
Portland Transit Station to Get Multi-Modal Mixed-Use Overhaul
The regional transit agency for Portland, Oregon is working on a development plan that would drastically multiple the planning considerations at a local transit station.
What Makes a Transit System Great in the U.S.
Transit should make people's lives better, with density a key component of successful systems.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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