Portland’s TOD Evolution: From Planning to Lifestyle
This chapter discusses measuring Transit Oriented Development (TOD) success, the perspective of disparate stakeholders such as; State and regional government, Transit agencies, Local government, Communities and, Private developers. Travel behaviour studies in TODs can be classified into those that analyse commute trips and studies of non-work trips. Empirical studies show consistently higher land values closer to train stations as compared to land. State and regional government are increasingly looking at TOD to address a number of issues, including: urban growth and sprawl, automobile dependence, traffic congestion, air quality/carbon emissions, housing, and environmental cleanup. Transit agencies primarily benefit from TOD through increased transit ridership and revenue and cost sharing arising from value capture through joint-developments with the private sector. Local governments and communities have the broadest view on goals for TOD. Many communities, have embraced TOD based on environmental, economic, and social grounds. Investors can either be institutions, such as banks and pension funds, non-institutional funds, high networth individuals.