Walkable  Urban,  Transit-­‐oriented  Development:  Key  to  21st  C  Economy  

h@p://business.gwu.edu/walkup/  

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Arlington  Starts  Transforms  in  1980s:  Rail  Transit,  Overlay  Zoning  &  Mgmt  

Same  Place  Today    

1980s:  Ex-­‐Sears  Stores    

Two  blocks  north  and  south,  single  family  housing  that  is  highest  priced  in  Arlington  on  $/foot  basis:  Best  of  Two  Worlds  10%  of  the  land=50%+  of  government  revenues  

Among  best  schools  in  Country…new  housing  has  0.4  per  unit    

Metropolitan  Land  Use  Op]ons  Regionally    Significant  

Local-­‐  Serving  

   

Walkable  Urban  

Place—e.g.  TOD  1-­‐2%  of  Metro  Area  

Neighborhood  3-­‐7%  of  Metro  Area  

 

 Drivable    Sub-­‐Urban  

Edge  City  5-­‐7%  of  Metro  Area  

 

Bedroom  Community  

80-­‐85%  of  Metro  Area    

Economic  Role  

Form  

Rail  Transit,  especially  streetcars  Rock  Creek  Railway,  DC,  1903   Salt  Lake  City-­‐1920s  

West  End  &  Atlanta  Street  Car-­‐1920s   Pacific  Electric,  Los  Angeles-­‐1918  

How  to  Pay  for  Transit?  Local  Taxes      

Progressive Real Estate Cash Flows with Value Latching

0%

50%

100%

150%

200%

250%

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

Time (years)

Valu

e Cr

eatio

n / C

ash

Flow

($)

Short Term Mid Term Long Term

Value Latching

+

VALUE  CAPTURE—PUBLIC  (TIF)  &  PRIVATE  GentrificaNon  Pays  Transit  

But  Also…Value  Capture  &  TIFIA  

Christopher  B.  Leinberger  Land  use  strategist,  developer,  author,  researcher,  professor  

(www.cleinberger.com)  

•  The  Op'on  of  Urbanism;  Inves'ng  in  a  New  American  Dream,  Island  Press,  2008  

•  The  Next  Slum?,  The  Atlan]c  Monthly,  March,  2008    

•  Here  Comes  the  Neighborhood,  The  Atlan]c  

•  “The  Death  of  the  Fringe  Suburbs”,  New  York  Times,  November  26,  2011  

•  “Now  Coveted,  A  Walkable  Convenient  Place”,  New  York  Times,  May  25,  2012