HR&A helps clients leverage economic and real estate development potential from transit infrastructure and transportation improvements.
Our transit-oriented development (TOD) work is informed by our specific expertise in market analysis, development implementation, public-private partnerships, and our track record of successful implementation. HR&A’s staff experience combines transit agency management with public and private real estate knowledge, which makes us uniquely well-positioned for planning and implementation for new development around transit facilities. We have created plans and implementation strategies for projects surrounding individual station areas, corridor-based development frameworks, and regional policies and long-range plans for TOD and infrastructure finance like value capture.
HR&A’s involvement in TOD projects is diverse and includes advisory services to private developers, municipalities, and transit agencies.
We understand the specific financial and operational drivers for transit agencies seeking increased ridership and non-farebox revenues, private developers seeking to leverage additional value from transit, and public planning and development agencies seeking to promote smart growth and revitalization. We:
- Create development frameworks for station areas that account for the operational needs of transit agencies and opportunities to create value and catalyze real estate development;
- Quantify and recommend gap financing measures for transit infrastructure through value capture mechanisms including joint development, tax-increment financing, special assessments, and negotiated exactions;
- Research real estate markets and demographics to identify opportunities for development surrounding transit-hubs for private developers and public sector entities;
- Analyze the economic impacts of transit investments, transit-oriented development, and congestion mitigation strategies on local and regional economic competitiveness; and
- Engage the private sector in municipal and agency TOD efforts, including preparation and evaluation of developer solicitation documents.