Joint development of rapid transit nodes : opportunities for directed economic development in metropolitan areas

Abstract

Accelerated population growth in general and increasing expanse and intensity of metropolitan development throughout the world have focused attention on urban and public transportation and growth management in some form. The high cost of modern urban highways and mass transit systems, coupled with the necessity of guiding the private use of land toward of urban investment strategies. Among these strategies, the concept of joint development of transportation facilities and high activity nodes has emerged as a promising solution of some critical transportation and congestion problems in leading metropolitan areas around the world Joint development applications have been especially effective in connection with rapid transit station development. Moreover, integrated public and private investment not only tends to maximize cost effectiveness of given facilities, but offers opportunities for value capture for public benefit at large, a key consideration in today's tight fiscal situations everywhere. This study was undertaken to examine some of the requisites to effective joint development of transit stations in leading metropolitan areas. The test systems included the metropolitan areas to Toronto, Montreal, Washington D. C., San Francisco, Atlanta and Paris. In all instances, it was found that fixed guideway rapid transit had a discernible, positive impact upon urban growth and intra-urban transportation, provided opportunities for imaginative growth management, and was an inducement for private investment. Conversely, effective application of this strategy required the preexistence of economic viability in the area as a whole, but especially of the transportation corridor of which the respective transit lines were an integral part. Transit by itself, with or without joint development, would not induce economic viability. Where such viability exists, however, several determinants can be identified consistently that are requisites to success or, in their absence, tend to explain disappointing results...