Planning for Success
Communities around the country are using Transit-Oriented Development (TOD) as a tool to plan for success. TOD, an approach to urban and regional planning and real estate that prioritizes the preservation and creation of housing, schools, jobs, and health services around rapid bus and rail transit, has been shown to:
- Boost transit ridership
- Spur economic development
- Limit sprawl and associated costs of additional public service delivery
- Encourage healthy living
- Minimize the impacts of traffic congestion and limit greenhouse gas emissions
- Strengthen resiliency of labor force
The compounding benefits of TOD make it a smart investment for individuals, institutions, and investors. An even smarter investment is Equitable Transit-Oriented Development (eTOD). eTOD combines the TOD approach with an equity lens, to ensure that the development serves those who most stand to benefit and to ensure that cost savings are optimized for the public and non-profit institutions that serve users of public transportation. It supports mixed-use developments that incorporate affordable housing in close proximity to high-quality public transit and bolsters ridership goals of transit agencies.
TOD can increase property values by as much as 150 percent. Absent equity-related activities, such appreciation increases the likelihood that the benefits of TOD accrue largely to high-income communities and individuals, many of whom have access to a car. In missing eTOD opportunities, communities miss the chance to align public and private investments for optimal returns.
To fully capture the benefits of transit-oriented development, communities can develop strategies that design for groups which most actively use public transportation needs. This includes low- income families and individuals, who spend between 54 and 59 percent of their gross income on housing and transportation, as well as the sick and disabled and those without a home. By tackling housing and transportation costs simultaneously—while expanding access to jobs, educational opportunities, and prosperity, we can improve the opportunities for safe, healthy, and rewarding lives for all.
How Enterprise Supports eTOD
Enterprise provides a range of services to assist public and non-profit institutions and organizations in planning, designing and financing eTOD. This includes:
Policy Analysis and Research
eTOD Acquisition Funds
- Denver Regional TOD Fund
- Bay Area Transit-Oriented Affordable Housing (TOAH) Fund
- Regional Equitable Development Initiative (REDI) Fund (Puget Sound, Wash.)
- Southland Community Development Loan Fund (Chicago Southland, Ill.)
Enterprise’s eTOD initiative is actively engaged with our partners in capital, solutions, and policy efforts in eight markets across the country: