Independence Found in Downsizing to a Transit Rich Neighborhood

Independence Found in Downsizing to a Transit Rich Neighborhood


Independent-minded Karlyn Huffman is considered a “super-user” of public transportation. Photo courtesy Silva Markham Partners

Seventy-eight year-old Yale Station Apartments resident Karlyn Huffman describes herself as outgoing and independent.

“My friends and neighbors will tell you I am a bulldog when it comes to getting out of the house every day,” she says. Huffman has health issues, and gave up her car seven years ago but nothing holds her back. “I go everywhere.”

Huffman’s independence is aided by her choice of residence in one of Denver’s newest affordable senior housing developments located in the transit- and amenity-rich neighborhood of University Hills, adjacent to a light rail station. Huffman uses both the train and bus to get to her job as a cook in the home of a prominent Denver family, to the Cherry Creek Shopping Center, and to the art museum. She even makes the necessary transfers so that she can shop in Boulder.

Denver is just one of many cities in the United States that has embraced transit-oriented development. In a paper released this week, the AARP Public Policy Institute documents more than 100 examples of state, regional, and local support for development that takes advantage of the public’s investment in high frequency rail and bus service. Huffman’s experience offers a glimpse into how such projects enhance lives.

The Benefits of Transit-rich Neighborhoods

Many of Yale Station Apartment’s residents are frequent transit users, taking at least one trip every two weeks, as defined by the property manager. By that measure, Huffman could be considered a super-user of transit, taking at least three bus trips every weekday.

While she makes trips by public transportation, she does enjoy rides with friends and neighbors. She and her girlfriends enjoy dinner at Chili’s and then catch a movie, with several theatres nearby to choose from. Their neighborhood also offers a free fitness center next door, a YMCA with a pool, and several grocery stores.

Huffman’s location also has allowed her to stay in her longtime community. Yale Station Apartments are just two miles from her previous home of 20 years. “Downsizing after living in a big home was a culture shock,” Huffman acknowledges, “but you have to do what you have to do.” Nevertheless, she describes her home of five years in highly positive terms. “I most love [Yale Station Apartments] for the transportation,” she says.

A Policy Key to Affordability

Transit-oriented development is often a victim of its own success. Transit-rich neighborhoods become vibrant and sought after by buyers and renters of all ages, pushing up housing costs. The challenge now is to ensure that housing that is affordable to low- and moderate-income households, including older adults, be part of these new neighborhoods.

Huffman would not have been able to afford this sought-after neighborhood were it not for the reduced rent.  Yale Station Apartments offer 50 units to residents age 55 and older who have incomes of between 30 and 60 percent of the Denver region’s median income.

To make the numbers work, the developer applied to the Colorado Housing and Finance Authority for federal Low Income Housing Tax Credits (LIHTC). “Yale Station could not have come together without the support of the LIHTC,” says Carl Koebel, vice president of developer Koelbel and Company. “It’s a powerful tool to create affordable housing.”

According to Koelbel, the wait list at Yale and University Stations includes 30-40 names. Vacancy rates are less than 1 percent.

Denver isn’t the only city where developers are building affordable housing that is conveniently located near transportation amenities. Atlanta facilitates this through strong policy and funding commitments. In 2005, the Atlanta City Council legislatively mandated a goal of building 5,600 units of affordable housing over 25 years within close proximity to its Atlanta BeltLine—a 22-mile loop of multi-use trails, a modern streetcar line, and parks. Reynoldstown Senior Residences is a new independent-living, affordable senior housing facility along the corridor. The development was funded in part by a $1.5 million BeltLine Affordable Housing Trust Fund grant, and is a result of a partnership between Mercy Housing, the US Department of Housing and Urban Development, the City of Atlanta, Invest Atlanta, and the Georgia Department of Community Affairs. Two residents share their experience in this video produced by the Atlanta Beltline, Inc.

In Denver and elsewhere across the country, housing affordability is a vexing challenge and transit-oriented development is often a victim of its own success. These neighborhoods become sought after by buyers and renters of all ages, pushing up housing costs. The challenge now is to ensure that housing that is affordable to low- and moderate-income households, including older adults, be part of these new neighborhoods.

Stay Informed: Sign up for the AARP Livable Communities Newsletter and visit AARP.org/livable

Ablynott 50x50out the author: Jana Lynott is a senior strategic policy adviser with the AARP Public Policy Institute, where she manages the AARP transportation research agenda. As a land use and transportation planner, she brings practical expertise to the research field.

____________________________________________________________________________________

Also of Interest

 



Source link

Threats to Infrastructure Funding Could Undermine Successful Local Development Efforts

Threats to Infrastructure Funding Could Undermine Successful Local Development Efforts


Well-designed, transit-rich neighborhoods provide many benefits to residents of all ages, as I document in, “Independence Found in Downsizing to a Transit Rich Neighborhood.” These neighborhoods also provide dividends to the larger community, generating higher property values, rents, and revenue than real estate located further away from high quality public transportation services. Cities as diverse as Seattle, Atlanta, Minneapolis, Denver, Detroit, and Washington, DC have all strengthened their regional economies through investment in transit-oriented development (TOD).  And because their residents walk and bike more, TOD residents reap some health benefits as well.

More than 80 real estate development projects have been completed or are in progress within 1/2 mile of Atlanta’s Beltline corridor. Photo by Jana Lynott

Transit-oriented development pays for itself and then some. One study  discovered that TOD development in the Washington, DC and Baltimore regions generated between $1.13 in tax and $2.20 in non-tax revenues for every dollar spent on public services, such as schools, parks, and general government administration. Another study of five cities found that during the Great Recession, residential property values performed 42 percent better on average if they were located near public transportation with high-frequency service. Neighborhoods with high-frequency public transportation provide access to up to five times as many jobs per square mile as compared to other areas in a given region. Residents also enjoy lower household transportation costs as many are able to give up one or more cars due to the abundant ways to get around the community.

Given the myriad benefits, this type of development should be a no-brainer. Unfortunately, however, future development of transit-oriented neighborhoods to meet high consumer demand is in question, as the very infrastructure programs that enable cities to build the underlying transit and other infrastructure that knits these neighborhoods together is under threat.

Two key federal infrastructure programs have been instrumental in getting TOD built. They are the:

  • Federal Transit Administration’s New Starts and Small Starts Capital Investment grants; and,
  • USDOT’s Transportation Investment Generating Economic Recovery (TIGER) grants.


Both of these programs have been targeted in the President’s FY2018 Budget for elimination.

The popular TIGER and New Starts/Small Starts grant programs respect local communities’ ability to set their own transportation priorities. They are two of the few ways that local communities can secure funds directly from the federal government for priority transportation projects. These federal dollars, in combination with an even greater share of public investment from states and localities, leverage billions of dollars in private sector investment in our communities.

The 2017 federal budget ends September 30. As Congress decides the fate of infrastructure funding in 2018, it will be essential that local officials, real estate developers, employers, and city planners have a seat at the table to inform this discussion. We have learned a tremendous amount from their collective experience over the past 20 years and can now quantify the extensive benefits of investing in a closely linked land use and transportation infrastructure strategy. Road investment is important but just one piece of the puzzle. The economic strength of our urban areas requires strong investment in public transportation.

Most communities cannot raise enough revenue to build the supporting infrastructure on their own. They need the federal government as a partner in revitalizing local and regional economies, of which the future of the nation depends. The payback will come in many ways.

Stay Informed: Sign up for the AARP Livable Communities Newsletter and check out our Livability Index AARP.org/livabilityindex

Ablynott 50x50out the author: Jana Lynott is a senior strategic policy adviser with the AARP Public Policy Institute, where she manages the AARP transportation research agenda. As a land use and transportation planner, she brings practical expertise to the research field.

____________________________________________________________________________________

Also of Interest



Source link

Pin It on Pinterest