Financing Transit-Oriented Development (TOD): San Francisco, CA
Because of concerns about energy prices, road congestion, and environmental degradation, homebuyers, renters, and employers are increasingly drawn to walkable neighborhoods with convenient access to transit and other urban amenities such as shopping and services. Transit-oriented development (TOD) is a land-use approach that caters to this growing demand by concentrating development around a transit station or within a transit corridor. TODs typically occur within one-quarter mile, or a five to seven minute walk, of a transit station and are characterized by mixed-uses, moderate to high density, pedestrian orientation/connectivity, transportation choices, reduced parking and high quality design.
Sustainability Officers interested in understanding the process of creating a TOD can refer to “Financing Transit-Oriented Development in the San Francisco Bay Area: Policy Options and Strategies,” which was prepared for the San Francisco Metropolitan Transportation Commission in August, 2008. While the report focuses on the Bay Area, it contains the following information that is ideal for regions with large transit systems and multiple layers of leadership:
- Case studies of ongoing development projects in the Bay Area.
- Lessons learned from TODs implemented by other regional planning agencies.
- An evaluation of different approaches for supporting TOD and infill development.
