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.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.
21 Climate Resilience Projects Cancelled by the EPA
The federal government has pulled funding for at least 21 projects related to farming, food systems, and environmental justice to comply with one of Trump’s early executive orders.
Trump Executive Order on Homelessness Calls for Forced Institutionalization
The order seeks to remove legal precedents and consent decrees that prevent cities from moving unhoused people from the street to treatment centers.
Cash-Strapped RIPTA Unveils Massive Cuts to Bus Service Across the State
Just 9 bus routes untouched as agency proposes to slash trips but CEO remains mum on potential layoffs.
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.
Yukon Government
Caltrans
New Jersey Institute of Technology
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Norman, Oklahoma
City of Portland
City of Laramie