Author:
Philip Langdon
New Urban Network
The Denver, Charlotte, and Minneapolis-St. Paul regions all opened new light-rail lines between 2004 and 2007, aiming to enhance their transportation systems and at the same time encourage efficiently-placed real estate development.
They got much of what they were looking for. “All three transit lines experienced a tremendous amount of new development” — 6.7 million square feet along the Twin Cities’ Hiawatha Line, 7.8 million square feet along Denver’s Southeast Corridor, and 9.8 million square feet served by Charlotte’s Blue Line, says a new report from the Center for Transit-Oriented Development.
The 80-page analysis, Rails to Real Estate: Development Patterns Along Three New Transit Lines, says residential construction came on particularly strong. In the Twin Cities, 86 percent of the development near the 12-mile Hiawatha Line was housing. In Denver, 68 percent was housing, and in Charlotte, 54 percent.
But if anyone expected development to crop up at every station, there was cause for disappointment. Transit-oriented development (TOD) concentrated primarily in areas that already had plenty of jobs or amenities to offer..................read more........
http://newurbannetwork.com/article/l...erywhere-14344
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