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Transit, Land Use, and Economic Development

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Transit, Land Use, and Economic Development Transit, Land Use, and Economic Development Susan A. Wood, AICP, Project Manager, RTD Steve Hebert, AICP, Community Development Director, City of Lone Tree Tom Underwood, Senior Transit Manager, Jacobs Introduction - Project Overview • The Southeast Light Rail Extension and the RidgeGate Planned D evel opment – Represents the Land Use/Transportation (Transit) Connection – An examp le o f“hliti”lf “holistic” plann ing – Economic Benefits of linking land use and transit • The I-25 Corridor • RidgeGate Planned Development – A Good Candidate for Federal Funding • New Starts Application and Funding Sought • Recent Federal Emphasis on Economic Benefit, Job Growth, and Livability Introduction - Presentation • Project Background – Project History • Ridge Ga te Planne d Deve lopmen t • Southeast Light Rail Extension • LdUTLand Use Transpor ttiCtation Connec tion – TREX/I-25 Corridor – Lone Tree – RidgeGate Planned Development Introduction - Presentation • Federal Funding (Transit Element) – Emphasis on Livability Principles – SthtEtiSoutheast Extension N ew SttStarts Application • PjProjec tCt Cons ittithCitiistent with Criteria • Anticipated Schedule Background - RidgeGate Planned DlDevelopment • The RidgeGate Planned Development – First zoned in April 2000 and amended 4 times – Development includes: • 3,500 acres of mixed-use development including office, commercial, residential, open space •Ligg(ht rail transit (Southeast LRT Extension ) – Located on west and east side of I-25 south of Lincoln – EtfIEast of I-25: Sky Ridge MdilCMedical Cen ter, me dildical and professional offices, residential, and cultural – West of I -25: Not yet developed Background - RidgeGate Planned DlDevelopment Figure 2-3 Current RidgeGate Development Plan Source: RidgeGate Planned Development 4th Amendment, City of Lone Tree website, 2012 The Southeast Light Rail Extension • 122 miles of new light rail and commuter rail • 18 miles of Bus Rapid Transit (BRT) service • 31 new Park‐n‐Rides; over 21,000 new spaces • Enhanced Bus Network & Transit Hubs (FastConnects) • Redevelopment of Denver Union Station • 50+ new rail and/or BRT stations for Transit Oriented Communities opportunities The Southeast Light Rail Extension • Included in FasTracks Plan – Approved by voters in 2004 •Would extend transit service 2.3 miles from Lincoln Avenue to RidgeGate Pkwy • Includes 3 new LRT stations •Kiss‐n‐Ride stations at Sky Ridge and at the future Lone Tree City Center •New end‐of‐line station at RidgeGate with a 2,000 space Park‐n‐Ride facility – Previous Studies • Limited Major Investment Study, 2003 • Environmental Evaluation, 2010 • Alternatives Analysis, 2012 The Southeast Light Rail Extension The Southeast Light Rail Extension • Project Characteristics – Ridership • Will add 4, 000 new riders/day on Southeast Rail Line (total projected ridership of 20,000 riders/day) – Popppyjulation and Employment Projections • Population to increase by 125% in study area by 2035 compared to 58% for the Region • Employment to increase 300% in study area compared to 62% for the Region – Travel Markets Travel Markets Trip Origins Trip Destinations The Economic Benefits of Transit • Congestion Reduction – Cost of Congestion • Job Creation – During Construction – Catalyst for Development – Jobs/Housing Balance • Increase in Land Value – Positive Effect on Property Values/Recent Sales The Cost of Congestion • Congestion Reduction – Cost of Congestion • Loss in Worker Productivity • Increase in Environmental Impact • By 2035 (without alternative to auto travel): – Vehicle Miles Traveled (()VMT) + 72% – Vehicle Hours Traveled (VHT) + 107% – Person Trips + 59% – Auto Travel Times from RidgeGate Pkwy to Denver Union Station + 78% (from 40 to 71 min) – LRT Travel Time anticipated to be 64 min Projected Congestion Job Creation & Jobs/Housing BlBalance • Job Creation – During Construction • Approximately 450 staff employed – Post Construction (Catalyst for Development) • Would generate approximately $430 million in additional economic activity • Would generate need for more than 20 permanent jobs to operate light rail – Jobs/Housing Balance • Mixed-use development supports balance Land Values • Study Area Examples – Recent sale near Lincoln Station: $22.80/sq ft – Sale near Park Meadows Mall: $13 .48/sq ft – Sale far east of proposed rail: $5/sq ft • Various Examples along Southeast Rail Line Southeast Corridor Southeast Corridor Corridor and Station Area Planning Combination of Comprehensive and Incremental Approaches Over 5‐10 Years by Each Jurisdiction • Comprehensive Plans • Sub‐Area Plans • Station Area Plans • ULI Advisory Panel Recommendations • Framework Plans • Traditional Planned Unit Developments • Mixed‐Use TOD Zoning The Southeast I‐25 Corridor A History of Public /Private Partnerships • JSPIA ‐ Joint Southeast Public Improvement Association • SEBP ‐ Southeast Business Partnership • SETA – SthtSoutheast TttiTransportation AthitAuthority‐ The Lin k • SPIMD –Southeast Public Improvement Metro District • DRCOG Urban Corridor – First Urban Corridor in Metro Vision Plan • South I‐25 Urban Corridor Transportation Management Association (TMA) • SEBP becomes Denver South Economic Development Partnership (DSEDP) DRCOG Urban Centers Belleview Station - Denver Belleview Station - Denver Belleview Station Proposed: • 1,800 residential units • 2.2M SF office • 250K SF retail • 1 or 2 hotels Cielo Apartments • 240 apartments • 48 du/ac 6515 Union Apartments • 279 apartments • 60 du/ac RE/MAX Headquarters • 259K SF Office • 21K SF Retail Orchard Station – Greenwood Village Orchard Station – Greenwood Village The Landmark • 271 condominiums • 47 du/ac • 168K SF Retail/Entertainment The Landmark • 271 condominiums • 47 du/ac • 168K SF Retail/Entertainment Arapahoe at Village Center – Greenwood Village & Centenn ia l Arapahoe at Village Center – Greenwood Village & Centenn ia l Arapahoe at Village Center – Greenwood Village & Centenn ia l PPdroposed • 5M SF New Office • 650 Residential • 237 Hotel Rooms Arapahoe at Village Center – Greenwood Village & Centenn ia l Proposed • 5M SF New Office • 650 Residential • 237 Hotel Rooms Palazzo Verdi • 285,000 SF Office • Restaurant and Event Space • Madden Art Museum Village Center Station I • 200K SF Office • 28K Retail and Restaurant Peakview 360 Apartments • 304 apartments • 78 du/ac • Street‐level commercial Fiddler’s Green Circle Road Diet (Big Stree t) Fiddler’s Green Circle Road Diet (Little Street) Village Center Station Plaza Joint Funding • RTD • Greenwood Village • Shea Palazzo Verdi Event Space Madden Art Museum Dry Creek Station – CildAhCCentennial and Arapahoe County Dry Creek Station – CildAhCCentennial and Arapahoe County Photo by Andrew Marenin Vallagio • 440 Apartments and Condo/Townhomes • Range of Densities • 20K SF Retail • 20K SF Office Vallagio • 440 Apartments and Condo/Townhomes • 20K SF RilRetail • 20K SF Office Vallagio AMLI at Inverness • 309 Apartments • 30 du/ac Ballantyne • 219 Apartments • 29 du/ac Dry Creek Crossing • 250 Residential Units • Approx. 30 du/ac Panorama Corporate Center • 142K SF Office • Several tenant improvements County Line Station – Lone Tree andDd Doug las County Park Meadows Mall • 1.6M SF • 185 Retail Shops and Restaurants • Light Rail Access added in 2008 County Line Station – Lone Tree andDd Doug las County Photo by Dornoff Photography Park Meadows Mall Lincoln Station – Lone Tree and DlCDouglas County Lincoln Station – Lone Tree and DlCDouglas County Lincoln Station Mixed Use • 58K SF Office/Retail Dex Office Building • 154K SF Office Metropolitan at Lincoln Station • 431 units • 40 du/ac Lincoln Square Lofts • 140 owner‐ occupied units • 33 du/ac Kaiser Permanente • 265K MOB in 2013 • 635K Future Office Southeast Extension -RidgeGate • 2.3 mile extension • Three new stations • 2,000 new parking spaces • Serves the new Lone Tree CCtyity Cente r • New end of the line station 3500-Acre Master Planned Ridge Gate RidgeGate West Vill age an d City Center Sky Ridge Station Sky Ridge Medical Center • 665K SF including MOB • 185 beds • 1,200 employees • 90 bed expansion in 2013 Hampton Inn • 106 Room Hampton Inn (under const.) Embassy Suites • 174 Rooms (const. 2013) The Vue Apartments • 281units • 67 du/ac The Vue Apartments • 281units • 67 du/ac Miramont Apartments • 244 units • 75 du/ac Regency at RidgeGate • 208 Apts • 40 du/ac Lincoln Park Townhomes • 108 units • 12 du/ac Renaissance Townhomes • 90 units • 22.5 du/ac Belvedere Townhomes • 132 units • 18.3 du/ac Lone Tree Arts Center • 500‐seat main theater • Multi‐purpose facility Southeast Extension -RidgeGate If you build it, will they come? Since the opening of the Southeast Corridor: • Nearly 4,000 residential units • > 1.24 million SF office • > 237,000 SF retail • 280 hotel rooms • MUCH more in the planning stage FTA New Starts Defined …supports transit "guideway" capital investments. Eligible fixed- guideway projects include, but are not limited to: -rapid rail - light rail - commuter rail - automated guideway transit - people movers - facilities for buses and other high occupancy vehicles. (Non-guideway bus-based projects qualify for funding under the Small Starts and Very Small Starts project categories.) The Federal New Starts Program Approx. $1 to $1.5 Billion annually in federal funds to the nation’s 6,000 plus transit agencies through the New Starts Program. – Began in 1970s under USDOT and UMTA…followed by a series of policy statements linking alternatives and cost analysis. – Continued management of the New Starts Program through
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