FTA launches transit development initiative
Transit development projects generate new jobs as well as services and also helps communities become more walkable and diverse.
“Our TOD initiative will help community leaders think about how investment in transit can bring prosperity into low- and- moderate-income communities,” Anthony Foxx, the U.S. Transportation secretary, said. “We’ve seen how investment in transit can lead to new housing stock, new jobs and new economic opportunities in areas that badly need them. To achieve results, we are offering to help local leaders create sound, equitable community-sensitive development plans.”
The TOD initiative has been introduced throughout the United States.
“Transit-oriented development is critical to both the success of new transit projects and to the economy of the local communities they serve,” Therese McMillan, FTA acting administrator, said. “What’s particularly great about TOD is that it encourages people to use transit to reach jobs, education, medical care, housing and the other vital services they need. Our TOD initiative will help communities that are less experienced in the latest development tools and real estate market strategies to create stronger neighborhoods.”