6. Primer on Transit Oriented Development (TOD)

By
Real Estate Agent with LRA Real Estate Group

Things you should know about TOD (Transit Oriented Development)

As Light Rail transit unfolds across the country, developers are eyeing opportunities to acquire, design and build profitable projects that business and the public find both desirable and practical. What are the best locations for development near transit? The answer is TOD, or Transit Oriented Development. There are 4,000 locations across the US that meet this definition. This scarce resource is similar to waterfront property, and can provide great benefit to the public.    

6. Higher density, mixed use zoning. Zoning changes are imperative and fundamental to encouraging TOD in all station areas. These may take the form of changes to the underlying zoning, interim zoning while plans are prepared for the station areas, or zoning overlay districts. Components of the zoning often include providing for mixed uses, density bonuses, parking restrictions, reduced setbacks, and pedestrian amenities. The zoning should be tailored to respect the unique setting of individual stations.

                                                                        

Posted by

Bryan Watkins
Designated Broker
LRA Real Estate Group
www.LRARealEstate.com
Phoenix-Tempe-Mesa Metro
480.734.7878 text/cell

Find us on www.Facebook.com/LRARealEstate

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