Equitable Transit-Oriented Development (TOD): Creating livable communities near quality public transit that improve the lives of low-income people by connecting them to opportunities and services.
As we continue to explore new facets of Equitable TOD, we want to share our lessons learned along the way. In particular, we have learned about how to incorporate ‘ equity’, what the role of a collaborative table is, and how to deploy capital all in support of Equitable TOD efforts. The lessons summarized below highlight our principal takeaways from these areas of work. For more depth, you can download a longer document here .
The ‘Equity’ in Equitable TOD
Living Cities believes that Equitable TOD strategies need to be intentional about maximizing benefit and minimizing harm to low-income communities. Our experience suggests:
- To maximize the benefits of Equitable TOD, you need a vision that extends beyond neighborhood surrounding any single station . A corridor or network perspective will allow for more comprehensive access to opportunities and services in a more cost-efficient manner.
- The disruption construction causes can be mitigated through proper planning & appropriate support to the affected communities
- Connecting Equitable TOD to business growth and job creation is a critical component of the work.
Living Cities believes that implementation of Equitable TOD strategies is significantly advanced by bringing leaders from the business, government, nonprofit and philanthropic sectors together to collaborate in setting and achieving a collective Equitable TOD agenda. Our experience suggests:
- To be successful, stakeholders need a shared vision of Equitable TOD
- Convening new stakeholders around an Equitable TOD table is challenging
- Regional transit and land use decisions impact local implementation of Equitable TOD
Equitable TOD Finance
Living Cities believes that appropriate financing products are an important tool for moving Equitable TOD forward. Traditional financing products and processes need to be adjusted to incorporate for Equitable TOD goals that go beyond affordable housing development and recognize the market challenges of Equitable TOD development. Our experience suggests:
- Issues with closing and deploying capital are often an early indicator of other “non-capital” problems such as policy, public sector engagement and capacity.
- A structured fund is not a one-size-fits-all solution for facilitating private investment in Equitable TOD.
- Conventional financial products do not adequately support Equitable TOD strategies , but public sector entities can play a critical role in forming new financial products