The Denver FasTracks Story

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Place-Based Economic Development The Denver FasTracks Story

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The twenty-first

The twentieth century

Century

was about getting around.

will be about staying in

a place worth staying in. James Howard Kunstler

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Why Place Matters

• Value Capture of Place • Aesthetics of Place

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Reconnecting America

Value Capture & TOD

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TOD Principles

• Greater density than community average

• Quality pedestrian environment

• Each node is unique

• A mix of uses & prices

• Community vision

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Denver’s Transportation History

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RTD Policy on Transit-Oriented Development • Reflect federal emphasis

on livable communities • Broaden definition of

success from ridership and revenue to ridership, revenue, and fostering livable communities

• Mixed-income housing policy

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What’s the First step?

• What would a PPP look like? – Development that occurs on

and adjacent to RTD property – Requires coordination between

RTD and a private entity • What does a transit system get out

of it? – Increased ridership – Enhanced transit infrastructure – Help create livable

communities

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RTD’s TOD Pilot Program

• Test out new tools to foster livable communities • Strategic use of parking replacement, new land valuation

strategies, partnerships, and grant funding • Provide flexibility where appropriate:

– Reduce or relocate parking in some individual situations – Use land as equity in partnership w/ others consistent with

FTA guidelines – Seek grant funding for TODs with an emphasis on

community – Joint venture with other government agencies on

development offerings

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Criteria for Pilot Projects • Within existing or funded rail

corridor • Ability for RTD to help

“nudge” development • TOD plan in place • Commitment by local

jurisdiction • Commitment by

developer/property owner • Market potential

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TOD Design Criteria

• Organize & orient the TOD site

• Design for compact & mixed use development

• Create a high quality pedestrian-oriented environment

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TOD Design Criteria

• Utilize the street grid to connect & provide access

• Support mixed income housing

• Exhibit political support and partnerships

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TOD Design Criteria

• Strategically manage parking

• Demonstrate successful TOD at all development phases

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Active TOD Projects

• Alameda Station Village • Olde Town Arvada • Denver Union Station

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Alameda Station Village

RTD

RTD Site

Bus Barn

RTD

T Denver Design District

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Olde Town Arvada

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Denver Union Station

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DUS Private Development Potential Feasibility Study 2009 – 2019 As of June, 2012 Uses Absorption Range (Lo/Hi) Actual Absorption/Plus Under Design) Office 418,000 – 628,000 SF 856,600 – 1,620,400 SF Retail 193,000 – 245,000 SF 49,300 – 162,400 SF Commercial 611,000 – 873,000 SF 905,900 – 1,782,800 SF Hotel (2019 – 2024 time frame) 130 rooms Residential 1,520 - 1,930 units 500 – 1,250 units

Note: Current actual projects include 2,240 parking spaces

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Tools for Success

• Find a Champion • Build Partnerships • Connect Land Use +

Transportation • Know the Market • Think Multimodal • Be Layered

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the people?

What is the city but

William

Shakespeare

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Thank you.

Questions? [email protected]

303.390.5912