When the link between transit operators and real estate developers was severed in the early 20th century, transit became both unprofitable and unresponsive to market demand, and land value-lowering MTA cuts are just one example, says Stephen Smith.
Smith responds to a recent New York Times article about how transit cuts in New York have affected the value of apartments and homes along the route:
"(O)f course, since the MTA doesn't see a penny of the value it creates, it isn't surprising that "the impact on property values isn't something the agency takes into account."
One way for transit agencies to benefit from the value they create is the use of "tax-increment financing" or "special-assessment districts" that levy taxes on infrastructure improvements specifically on those who benefit, but these mechanisms are pale imitations of the only way to truly link transit-induced value and real estate: allowing joint ownership."
Thanks to Stephen Smith
Read the full story: Internalizing positive transit externalities
Second Anniversary of the COVID-19 Pandemic
March 11 marked the second anniversary of WHO's declaration of the pandemic and the beginning of its third year. Cases continue to plummet in the U.S. and plateau globally while war in Europe has overshadowed the virus that has killed 6 million.
The Major Shortcoming in Biden's COVID Action Plan
Dr. Leana S. Wen, an emergency physician and public health expert, writes that Covid will become a 'manageable problem' with three key actions, only one of which hasn't received the attention it deserves in the Biden administration's action plan.
The Singapore Exception
Singapore, Taiwan, and Hong Kong were credited early in the pandemic with having successfully contained the coronavirus without resorting to lockdowns. However, Singapore lost its standing in that elite group. Crowding vs. density may explain why.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
California plans to bury El Niño’s downpour
If the state plays its cards right, it may be able to store a billion acre-feet of El Niño’s water in aquifers.
Desperate measures: Advocates weigh draining Lake Powell to fill Colorado River
Draining the reservoir could reduce evaporation losses by a couple hundred thousand acre-feet.
Los Angeles just elected an urban planner as its mayor
Transportation analysts are optimistic that Raman will be more aggressive in addressing transit issues than Bass.
Mamdani’s pied-à-terre tax survives legal challenge
A panel of judges found that the plaintiffs failed to demonstrate injury as a result of New York City's implementation of the tax.
Eastern Nebraska is running out of electricity
Data centers and electrification are straining eastern Nebraska’s grid, throttling economic development.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
City of Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
University of Michigan School for Environment and Sustainability (SEAS)
Hunter College, City University of New York (CUNY)
The Architects Foundation
City of Cambridge
Montrose County
The Pocatello Development Authority