Jim Richardson, senior vice president of Forest City Developers, shares his thoughts on innovative funding of transportation projects at the 2012 Charlotte Chamber Transportation Summit.

1. Sustainable Transit &
The Role of the Master Developer
James Richardson
Senior Vice President
Forest City Enterprises, Real Estate Services
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2. What You Already Know
SOCIAL
• Improved transportation options, particularly for non-
drivers
• Reduced consumer transportation costs
• Expanded labor market shed for employers
• Improved access to job opportunities for workers
• Neighborhood revitalization
• Improved social cohesion through positive interactions Instead, what can be done
•
among people in a community
Improved fitness and health as a result of increased
on a national level to
walking and biking create a system that is
• Reduced traffic accidents
both operationally and
ENVIRONMENTAL
• Reduced traffic congestion economically sustainable?
• Reduced fuel consumption
• Better air quality
• Reduced sprawl
• Conservation of open space
* Source: Center for Transit –Oriented Development
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3. Sustainable Transit
It’s about more than planning a place that is livable & accessible
Vs.
Metropark Train Station Westfield San Francisco
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4. Sustainable Transit
It’s about implementation a strategy that maximizes
economic potential
Vs.
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5. Station Area Planning
• Physical Site Assessment
• Market Feasibility Assessment
• Public Involvement
• Brand Development
• Station and Station Area Master Plan
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6. Station Area Planning
Physical Site Assessment
• Base mapping and aerial
photography
• Land use and Zoning
• Surface transportation – access,
capacity
• Utilities and storm water
• Natural Features
• Environmental and cultural features
• Project character and visual impact
• Opportunities and constraints
• Connectivity to other modes of
transportation (shuttles, busses, rental cultural recreation
car, car service, university shuttle, office medical
bicycles etc.) commercial educational
entertainment housing
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7. Station Area Planning
Market Feasibility Assessment
• Economic and demographic trends
compare ridership to local markets
to help determine development
opportunities
• Supply and demand analysis
• Benchmark against similar projects
• Assess market segments
• Retail, office, hospitality,
residential, institutional and
civic uses
cultural recreation
office medical
commercial educational
entertainment housing
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8. Station Area Planning
Public Involvement
• Interviews, public meetings, design
charrettes, surveys, stakeholder
meetings, public open house
Branding Development
• Vision/pattern book to create
project identity and tie local station
and surrounding development to the
brand of the overall transit network.
In addition, market to other stations,
“station to station marketing”
program
Expressed Station Identity
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9. Station Area Planning
Station and Station Area Master Plan
• Site and Land Use Plan
• Infrastructure
• Station rail facilities
• Open space
• Design guidelines
• Mixed use leasable space – part of station
• Adjacent transit oriented development – retail, office, residential,
civic uses
• Master Development Program that identifies individual projects,
phasing, development rights, cost and financing sources
• What is the income and value created?
• Job growth – How many jobs created
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10. Station Area Planning
In some places, character and brand are already established
POTENTIAL
POTENTIAL
POTENTIAL
POTENTIAL
POTENTIAL
Others need to be created and defined
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11. TOD Model
The following is a possible model which establishes a PPP (Public
Private Partnership) where all parties are true partners and share
in the value created and profits from the TOD. The concept is to
hire a qualified Master Planning Development Administrator
(MPDA) that will coordinate with all partners to help locate,
prepare economic analysis and manage the TOD
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12. TOD Public Private Partnership
MPDA Administrator
Partnership Structure
MPDA
Administrator
Local
FRA/HSIPR Host Rail Amtrak RR State Developer
Government
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13. TOD Public Private Partnership
MPDA Administrator
Mission:
Maximize the income from the system and system stations,
manage the real estate and distribute profits to the partnership
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14. Transit Development
Its More than Connecting Locations
1 Mile
And getting from “A” to “B”…
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15. Transit Development
Its about Understanding Station Identity, Expressing Identity and
Maximizing the Economic Value & Benefits
1/4 mile
1/2 mile
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16. Transit Development
…To Develop a Sustainable System that not only
Builds Value around Station Areas but Creates Economic Potential
POTENTIAL
POTENTIAL
POTENTIAL
POTENTIAL
1 Mile
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17. Questions?
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