ABSTRACT
This chapter examines why quality transit villages are happening more slowly than hoped, and why the quality of what is built is often less than the community envisioned. It discusses the demographic and market support for Transit Oriented Developments (TODs) in the United States, looks at requirements for successful TODs, examines the developer's risk-return trade-off, describes the developers best suited for TOD, presents public-private partnerships, and projects future trends of TOD in America. Mixed-use precincts around transit stations are being touted by planners but built examples are still a novelty outside of older, well-established transit cities like New York, Boston, Washington, and Philadelphia. The non-profit sector is equally important and often overlooked. The value premium realized in many TODs comes far more from the "place" the attractive, interesting district around the station than from the transit system itself. The demand for walkable villages is well demonstrated around the world in resorts and tourist destinations where prices skyrocket.
