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Public Land with Private Partnerships for Transit Based Development, IISTPS Report 97-1

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Public Land with Private Partnerships for Transit Based Development, IISTPS Report 97-1 San Jose State University SJSU ScholarWorks Mineta Transportation Institute Publications 5-1-2007 Public Land with Private Partnerships for Transit Based Development, IISTPS Report 97-1 Scott Lefaver San Jose State University Follow this and additional works at: https://scholarworks.sjsu.edu/mti_publications Part of the Transportation Commons Recommended Citation Scott Lefaver. "Public Land with Private Partnerships for Transit Based Development, IISTPS Report 97-1" Mineta Transportation Institute Publications (2007). This Report is brought to you for free and open access by SJSU ScholarWorks. It has been accepted for inclusion in Mineta Transportation Institute Publications by an authorized administrator of SJSU ScholarWorks. For more information, please contact [email protected]. IISTPS Report 97-1 Norman Y. Mineta International Institute for Surface Transportation Policy Studies Created by Congress in 1991 Public Land with Private Partnerships for Transit Based Development Mineta Transportation Institute San Jos é State University San Jose, CA 95192-0219 IISTPS Report 97-1 Public Land with Private Partnerships for Transit Based Development May 1997 (reprinted 2001) Dr. Scott Lefaver, AICP a publication of the Norman Y. Mineta International Institute for Surface Transportation Policy Studies IISTPS Created by Congress in 1991 Technical Report Documentation Page 1. Report No FHWA/CA/OR- 2. Government Accession No. 3. Recipients Catalog No. 96/26 4. Title and Subtitle: 5. Report Date Public Land with Private Partnerships for Transit Based Development May 1997 6. Performing Organization Code 7. Author: 8. Performing Organization Report No. Dr. Scott Lefaver, AICP A94RM63 9. Performing Organization Name and Address: 10. Work Unit No. California Department of Transportation New Technology and Research, MS-83 P.O. Box 942873 Sacramento, Ca. 94273-0001 11. Contract or Grant No. 65VRM63 12. Sponsoring Agency Name and Address: 13. Type of Report and Period Covered: California Department of Transportation Final Report Office of Research- MS4 400 7thStreet, SW Sacramento, CA 94273-0001 14. Sponsoring Agency Code 15. Supplementary Notes: This project was conducted in cooperation with the U.S. Department of Transportation, Research and Special Programs Administration.The project was conducted under the original title of “Zoning and Financing of Transportation Interchange Point Densification (Analysis of Opportunities and Barriers in Project Development).” 16. Abstract: The Norman Y. Mineta International Institute for Surface Transportation Policy Studies (IISTPS) at San José State University (SJSU) conducted this project to examine opportunities for transit based developments based on public land and private partnerships. The ten case studies include a variety of financing and ownership arrangements, with the buildings constructed for residential, commercial and office uses. The report examines the differences in expectations and objectives between public and private entities and suggests strategies for more realistic relationships. It includes detailed “Decision Check Lists” for both private developers and public agencies to consider before embarking upon a transit based development project. The report reviews different purposes and intended uses for transit oriented development, as well as the importance of appropriate location, design and market timing. It included a discussion of financing mechanisms, including traditionally private-based, as well as various methods of public funding and subsidies. Relevant federal and California legislation is summarized. The document includes a Glossary and an extensive bibliography. 17. Key Words: Transit based 18. Distribution Statement: development; Public/Private partnerships; Financing; No restrictions. This document is available to the public through Redevelopment; Zoning; Transit The National Technical Information Service, Springfield, VA Oriented Development, Density; 22161 Market Analysis, Real Property 19. Security Classification (of this report) Security Classification. (of this 21. No. of Pages 22. Price Unclassified page) 339 $15.00 Unclassified Copyright © 1997 by IISTPS All rights reserved Library of Congress No. 97-67199 To order, please contact us via the following: MTI San José State University College of Business San Jose CA 95192-0219 Tel (408) 924-7560 Fax (408) 924-7565 E-mail: [email protected] http//:transweb.sjsu.edu Prepared in cooperation with the State of California Business, Transportation, and Housing Agency, Department of Transportation and the U.S. Department of Transportation, Research and Special Programs Administration, University Research Institutes program. The contents of this report reflect the views of the authors who are responsible for the facts and accuracy of the data presented herein. The contents do not necessarily reflect the official views or policies of the U.S. Department of Transportation, the State of California or IISTPS. This report does not constitute a standard, specification, or regulation. This document is disseminated under the sponsorship of the Department of Transportation, University Research Institutes Program, in the interest of information exchange. The U.S. Government, State of California and IISTPS assume no liability for the contents or use hereof. Table of Contents i TABLE OF CONTENTS EXECUTIVE SUMMARY ...............................................................................1 PLAZA DEL SOL .............................................................................................9 DEL NORTE PLACE......................................................................................33 ATHERTON PLACE ......................................................................................59 SEQUOIA STATION......................................................................................77 LA MESA VILLAGE PLAZA......................................................................105 MERCADO APARTMENTS........................................................................121 BALLSTON METRO CENTER ...................................................................135 GRESHAM CENTRAL.................................................................................153 RESURGENS PLAZA ..................................................................................175 ATLANTA FINANCIAL CENTER..............................................................193 SUCCESSFUL PARTNERSHIPS.................................................................217 METHODS OF FINANCING .......................................................................235 LESSONS LEARNED...................................................................................245 DEFINITIONS...............................................................................................251 GLOSSARY OF ACRONYMS.....................................................................255 BIBLIOGRAPHY..........................................................................................257 Mineta Transportation Institute ii Table of Contents Mineta Transportation Institute List of Tables iii LIST OF TABLES Table 1-1 Plaza Del Sol Number and Type of Units .......................................14 Table 2-1 Del Norte Current Rental Rates.......................................................38 Table 3-1 Atherton Place Demographics.........................................................61 Table 3-2 Atherton Place Apartment Details...................................................63 Table 5-1 La Mesa Demographics.................................................................107 Table 5-2 La Mesa Building Use...................................................................108 Table 5-3 La Mesa Building Space Allotment ..............................................109 Table 5-4 La Mesa Funding...........................................................................112 Table 6-1 Mercado Apartments Building Use...............................................121 Table 6-2 Mercado Apartments Demographics.............................................123 Table 6-3 Mercado Apartments Project Use..................................................124 Table 7-1 Ballston Planning Application.......................................................143 Table 10-1 Buckhead MARTA Station Ridership.........................................198 Table 10-2 1991 Atlanta Financial Demographics........................................199 Table 10-3 Existing and Projected Development ..........................................200 Table 11-1 List of Livable Communities Projects.........................................244 Mineta Transportation Institute iv List of Figures Mineta Transportation Institute List of Figures v LIST OF FIGURES Figure 1-1 Location of Plaza Del Sol, San Francisco, CA ..............................28 Figure 1-2 Plan of Plaza Del Sol .....................................................................29 Figure 1-3 View of Building A of Plaza Del Sol.............................................30 Figure 1-4 View of Play Area and Building A of Plaza Del Sol .....................30 Figure 2-1 Location of Del Norte Place, El Cerrito, CA .................................56 Figure 2-2 Advertisement for Del Norte Place................................................57 Figure 2-3 View of Del Norte Place from BART station ................................57 Figure 3-1 Location of Atherton Place, Hayward, CA....................................72 Figure 3-2 Plan of Atherton Place ...................................................................72
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