rv 2014: equitable development- tod in a distressed economy
DESCRIPTION
Equitable Development: TOD in a Distressed Economy AICP CM 1.5 Equitable development starts with a commitment to robust community engagement, continues with strategic public investments to "prime the pump," and ends with development that meets community needs and allows investors to make a buck or two. Learn how public and private partners can work together to lay the groundwork to finance and deliver TOD in the face of a distressed local development market. In Minneapolis: A community along a future BRT corridor plans for future investments in transportation, economic development, housing and placemaking. In Pittsburgh: A diverse community adjacent to a busway station attracts public and private investments for a successful project. In Phoenix, nonprofits working together to ready publicly-owned property for development and create a loan program to bring affordable and market rate residential mixed use to the light rail. Moderator: Melinda Pollack, Vice President, Enterprise Community Partners, Denver, Colorado Daniel Klocke, Downtown Phoenix CDC, Phoenix, Arizona Patricia Fitzgerald, Economic and Community Development Division Manager, Hennepin County, Minneapolis, Minnesota Ernie Hogan, Executive Director, Pittsburgh Community Reinvestment Group, Pittsburgh, PennsylvaniaTRANSCRIPT
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EQUITABLE TOD & PHOENIX???
HOW DO MANY PEOPLE VIEW PHOENIX AND
ARIZONA?
HOW DO I GET OUT?
WELCOME TO MY HOME!
LOVE MY PEDESTRIAN FRIENDLY NEIGHBORHOOD!
BUT THERE IS A METRO PHOENIX
MOST PEOPLE DO NOT KNOW
We are very diverse---Caucasian Population-62.6% in USA, 56.7 Arizona, Phoenix 46.5%
We are working on bikeshare
We are figuring out this sustainability
thing!
Light Rail is Booming
Downtown Phoenix is growing rapidly
We are eclectic and interesting
Longest starter segment ever=20 miles---linked job centers, Arizona State University, Sky Harbor Airport, entertainment venues, etc.
Metro Light Rail Opened at the end of 2008
Picture of train going over a cliff
So just as light rail opened you know what happened with the economy at the end of 2008
But with the CRASH came opportunities
LIGHT RAIL RIDERSHIP
Predicted when open 26,000 weekday and 16,000 weekend
End 2013-Average 39,000 EVERY DAY
LAND PRICES
Values fell 25-75%
Our Eureka Moment
BUT even with that crisis---between 2010 to 2050 the Phoenix metro area will grow by 4 million people—that is like sticking Los Angeles or 10 Minneapolis’ in your
region
Sustainable Community
Collaborative
Local government
s
LISC and RAZA
DevelopmentRegional
Planning Entity
Valley Metro-light rail and
bus
Local CDCs
Private sector
Foundations & Local
Organizations
State government
a. TOD Housing Demand Studyb. TOD scorecard and evaluation
guide for neighborhoodsc. Sustainable Communities Fundd. Arizona Dept of Housing re-tooling
of the LIHTC qualified allocation plan
e. Reinvent PHXf. Land Bank-we tried…..
The Sustainable Community Collaborative led to…
Demand for TOD housing along the 20 mile light rail alignment
was huge
Imme-diate
Demand
Demand 2010-2040
Total Demand by 2040
Demand under
80% AMI
0
20000
40000
60000
80000
100000
120000
140000
TOD Scorecard and Evaluation Guide for Neighborhoods
$$20 million from LISC
and RAZA Development for land acquisition and pre-
developmentOver $10 million distributed to
date
Sustainable Communities Fund
Three years ago the State made a deliberate change to the QAP and how the Low Income Housing Tax Credit applications were to be scored**Heavy emphasis on proximity to light rail and frequent bus service**Heavy emphasis on sustainable developmentRESULT: 1,266 units built near light rail in 4 years since the policy change
Arizona Department of Housing-Qualified Allocation
Plan
Projects built/coming in this new environment
Re-Invent PHXTOD Planning and zoning changes to make way for
development when the time is right
Where we failed…….
LANDBANKING
5.5 acre parcel where price fell 60%
Light Rail Stop
Conceptual planning of publicly owned TOD site in Downtown
Phoenix
¼ mile
