USDOT is encouraging developers to take advantage of loans aimed at supporting the building of multifamily buildings near transit lines.
“The Department of Transportation is using two lending programs — the Transportation Infrastructure Finance and Innovation Act (TIFIA) and Railroad Rehabilitation & Improvement Financing (RRIF) — to open up about $35 billion in federal cash with below-market interest rates for multi-family construction within a half-mile of mass transit stations,” reports Eliza Relman in Business Insider.
The loan programs have the dual goal of boosting multifamily housing construction and growing transit ridership by putting more homes near available transit options. “In fact, in order to qualify for the loans, developers need to show that their projects would boost ridership.”
As Relman notes, “DOT noted a few limitations of the two loan programs, including federal requirements like environmental review and domestic sourcing of construction materials, credit rating, and a 12-14 month timeline for approving projects.”
Transit Agencies Look to Land Development to Increase Revenue
With ridership revenue down, agencies seek to diversify their revenue stream by taking a more active role in developing agency-owned land.
New TOD Breaks Ground in Atlanta Area
The project will include over 500 housing units, commercial and retail space, and park spaces.
Baltimore Could See a TOD Boom
Developers are calling on city leaders to support transit-oriented development amidst an influx of federal funding opportunities.
Eugene Ends Parking Minimums
In a move that complies with a state law aimed at reducing transportation emissions, Eugene amended its parking rules to eliminate minimum requirements and set maximum parking lot sizes.
How Paris, Texas Became a ‘Unicorn’ for Rural Transit
A robust coalition of advocates in the town of 25,000 brought together the funding and resources to launch a popular bus service that some residents see as a mobility lifeline—and a social club.
San Diegans at Odds Over ‘Granny Towers’
A provision in the city’s ADU ordinance allows developers to build an essentially unlimited number of units on single-family lots.
New York Strengthens Protections for Mobile Home Park Residents
Modular home owners will get the first right of refusal when park owners want to sell residential parks.
Palo Alto Expands Church ‘Safe Parking’ Program
The city is considering adding commercial lots to the program, which provides safe parking and amenities for people living in cars.
Report: California’s Orphan Wells Still Pose Health Risks
Tens of thousands of idle oil wells litter the state. Taxpayers are often on the hook for cleanup.
HUD's Office of Policy Development and Research
HUD's Office of Policy Development and Research
Chaddick Institute at DePaul University
Park City Municipal Corporation
National Capital Planning Commission
City of Santa Fe, New Mexico
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