USDOT is encouraging developers to take advantage of loans aimed at supporting the building of multifamily buildings near transit lines.
“The Department of Transportation is using two lending programs — the Transportation Infrastructure Finance and Innovation Act (TIFIA) and Railroad Rehabilitation & Improvement Financing (RRIF) — to open up about $35 billion in federal cash with below-market interest rates for multi-family construction within a half-mile of mass transit stations,” reports Eliza Relman in Business Insider.
The loan programs have the dual goal of boosting multifamily housing construction and growing transit ridership by putting more homes near available transit options. “In fact, in order to qualify for the loans, developers need to show that their projects would boost ridership.”
As Relman notes, “DOT noted a few limitations of the two loan programs, including federal requirements like environmental review and domestic sourcing of construction materials, credit rating, and a 12-14 month timeline for approving projects.”
Transit Agencies Look to Land Development to Increase Revenue
With ridership revenue down, agencies seek to diversify their revenue stream by taking a more active role in developing agency-owned land.
California Bill Aims to Boost TOD
A bill proposed by Sen. Scott Wiener would exempt transit agencies from zoning rules near ‘high-quality’ transit stops and allow denser transit-oriented development.
Balancing TOD and Public Health
Building housing near transportation networks can improve density and walkability, but can also have serious health consequences for residents.
Alabama: Trump Terminates Settlements for Black Communities Harmed By Raw Sewage
Trump deemed the landmark civil rights agreement “illegal DEI and environmental justice policy.”
Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25% resulting in 1,900 jobs lost.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Restoring Northern India’s Himalayan ‘Water Temples’
Thousands of centuries-old buildings protect the region’s natural springs and serve as community wells and gathering places.
Milwaukee to Double Bike Share Stations
Bublr Bikes, one of the nation’s most successful, will add 500 new e-bikes to its system.
DC Extends Application Window for Outdoor Dining Permits
District restaurants will have until the end of November to apply, but businesses with permits in rush hour parking lanes must end operations on July 31.
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