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.”
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DARTSpace Platform Streamlines Dallas TOD Application Process
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Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
San Francisco Suspends Traffic Calming Amidst Record Deaths
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Adaptive Reuse Will Create Housing in a Suburban Texas Strip Mall
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Study: Anti-Homelessness Laws Don’t Work
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In U.S., Urban Gondolas Face Uphill Battle
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Planning for Universal Design
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Heyer Gruel & Associates PA
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Custer County Colorado
City of Camden Redevelopment Agency
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Transportation Research & Education Center (TREC) at Portland State University
Jefferson Parish Government
Camden Redevelopment Agency
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