Building in Affordability
Cohen and Salomon argue that policies need to be in place up front to deal with rapidly escalating prices related to the building of transit:
"While working families often have the most to gain from access to low-cost transportation alternatives, experience has shown that land costs near planned stations often escalate rapidly in anticipation of new transit investments, and failure to act early and build in affordability at the outset can make it extremely difficult and costly to preserve and expand housing affordable to working families and others along transit corridors. A similar dynamic may apply to the areas around existing transit stations-and to village and town centers-that are the focus of reinvestment and redevelopment."
Cohen and Salomon present some options for ensuring affordability.
Thanks to Matthew Brian Hersh