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
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.
Rethinking Redlining
For decades we have blamed 100-year-old maps for the patterns of spatial racial inequity that persist in American cities today. An esteemed researcher says: we’ve got it all wrong.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
California High-Speed Rail's Plan to Right Itself
The railroad's new CEO thinks he can get the project back on track. The stars will need to align this summer.
San Francisco Muni Raises Fares a Second Time
A 10–cent fare hike for adults is part of the agency’s plan to chip away at a growing budget deficit.
Electric Grid Capacity Could Hamstring EV Growth
Industry leaders say the U.S. electric grid is unprepared for the increased demand for power created by electric cars, data centers, and electric homes.
Texas Bill Supports Adaptive Reuse in Commercial Areas
Senate Bill 840, which was preliminarily approved by the state House, would allow residential construction in areas previously zoned for offices and commercial uses.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Regional Transportation Commission of Southern Nevada
Toledo-Lucas County Plan Commissions