Measuring the Impact of Transit from a TOD Perspective

October 31, 2018

Chessy Brady RTD TOD Manager Chessy.Brady@RTD-Denver.com 303.299.2073 What is Transit-Oriented Development?

• More compact and dense development within a 10-minute walk or ½ mile distance from high frequency station • A mix of uses, usually residential, retail, and office • High-quality, pedestrian-oriented urban design and streetscapes

Photos: Smart Growth America

2 Why do TOD?

• Compact development makes efficient use of land, infrastructure • Varied land uses allow for walking to everyday destinations • Proximity to transit discourages auto commutes, reduces congestion, improves air quality RTD’s Role in TOD

• Station Area Planning • Source for local information and TOD best practices • RTD Coordination • Encourage TOD on RTD land through public/private partnerships with developers and jurisdictions TOD vs. Joint Development Example: Alameda Station

W Alameda Ave Potential TOD RTD

JD SBroadway Land The Denizen • 275 units • 2,000 SF retail

5 Agenda

• Economic Impact Analysis • TOD Trend Tool • Quality of Life Study • TOD Database/TOD in Pictures

6 Economic Impact of Transit Investments

• Dallas DART $10.8 bn in economic development since 1999 [link]

• Portland MAX $11.5 bn in development within walking distance of stations since 1986 [link]

• Salt Lake TRAX $7 bn in economic development since 2000 [link]

• Phoenix METRO $8.2 bn in economic development since 2008 on an investment of $1.35 billion [link]

• Houston METRO $8 bn in economic development since 2004 on an investment of $324 million [link]

• Twin Cities METRO $8.4 bn in development on an investment of $2.031 billion [link]

• Denver RTD ?

Summary by David Dobbs, LightRailNow.org

7 TOD Trend Tool Interactive Excel Database using Costar data

Sample outputs:

Since 2005, • 12.8 M sf office and 25k multifamily units built within half- mile of stations

• 18% of new office and 8% of new multifamily units in Denver MSA occurred within half-mile of Union Station

8 RTD’s Quality of Life Report HOUSING + TRANSPORTATION (H+T) COST

22% H+T Cost 27% In 2015, people in Near Open the Metro Denver Region Representative 53% H+T = 47% Stations region spent an H+T = 39% average of 47% of 61% 17% their income on 20% housing and transportation costs. Near transit stations, people Housing Transportation Remaining Income spent 39%.

Source: CNT H+T Index

9 RTD’s Quality of Life Report OFFICE, RETAIL, & INSTITUTIONAL DEVELOPMENT 4.0

3.5

3.0

2.5 New Development Within half a mile 2.0 of Union Station,

1.5 over 13,000 square feet of 1.0 retail space and Millions of Square Feet of Development of Feet Square of Millions 390,000 square 0.5 feet of office 0.0 space were built 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 in 2015. Source: RTD TOD Database Retail Office Institutional

10 RTD’s Quality of Life Report HOUSING STARTS 25,000 24,100 23,140

20,000 19,020 Housing Starts

17,350 17,140 52% 53% In Metro Denver, 14,900 15,050 15,270 15,000 housing starts 9% 48% increased 27% 56% 50% 45% between 2015 and 9,970 60% 10,000 2017. The mix of 7,400 housing built has

New Housing Units Housing New 57% 91% 5,760 48% 4,500 46% 47% shifted from mostly 5,000 32% 52% 55% 50% 37% 44% single family to an 40% 43% 68% 54% 63% equal balance of 0 multi and single family 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 homes. Source: US Census Single Family Multi Family

11 TOD Database/TOD in Pictures

12 Lines Resi Units Office S.F. Retail S.F. Hotel Keys Central 3,035 172,000 18,000 - Existing TOD 1,838 - 18,000 - Planned TOD 1,197 172,000 - - Central Platte Valley 119 - - 150 TOD Database Summary Existing TOD 119 - - 150 Planned TOD - - - - CU A Line 1,417 1,643,000 272,500 600 Existing TOD 653 755,000 100,000 - Planned TOD 764 888,000 172,500 600 Flatiron Flyer 3,930 470,000 239,700 275 Existing TOD 2,843 300,000 15,700 150 Investment in transit has had a Planned TOD 1,087 170,000 224,000 125 G Line 1,758 - - 136 significant impact on development in the Existing TOD 1,210 - - 136 Planned TOD 548 - - - region. Northwest 3,501 661,000 92,500 - Existing TOD 70 - - Planned TOD 3,431 661,000 92,500 - R Line 4,598 250,000 282,000 757 Existing TOD 2,344 - 45,000 618 Transit-oriented development within ~1/2 Planned TOD 2,254 250,000 237,000 139 Southeast 7,260 4,917,780 252,569 86 mile walk of a high frequency station*: Existing TOD 6,910 2,619,000 196,000 86 Planned TOD 350 2,298,780 56,569 - • 39,500 Residential Units Southwest 1,670 145,000 - - Existing TOD 1,307 140,000 - - • 10,400,000 Square Feet Office Planned TOD 363 5,000 - - L Line 5,954 148,192 95,800 41 • 1,500,000 Square Feet Retail Existing TOD 4,234 141,192 95,800 - Planned TOD 1,720 7,000 - 41 • 2,800 Hotel Rooms W Line 3,538 175,000 - - Existing TOD 2,194 175,000 - - Planned TOD 1,344 - - - Denver Union Station 2,803 1,836,191 296,404 743 Existing TOD 1,806 1,836,191 254,404 510 Planned TOD 997 - 42,000 233 Grand Total 39,583 10,418,163 1,549,473 2,788 *Downtown Denver excluded Existing TOD 25,528 5,966,383 724,904 1,650 Planned TOD 14,055 4,451,780 824,569 1,138

13 What Enables TOD?

• Market • Zoning • Infrastructure/Access • Jurisdiction Interest/Incentives • Lot size and ownership

14 Central

D

F

H

E

C Wellington Apartments Tapiz IMT Alameda Station Broadway Junction Windsor at Broadway Station 253 units – Planned 2019 100 affordable units – 2013 338 units – 2014 60 affordable units – 2008 419 units – 2009

Downtown Development

Arches Mariposa The Denizen 1000 S. Broadway Apts Platt Park Townhomes 93 affordable units – 2014 87 affordable units – 2014 275 units, 2k SF retail – 2015 260 units – 2014 30 townhomes - 2015

The Zephyr DHA HQ PDG Design District Hanover Platt Park The Henry 77 affordable units – 2014 172k SF office & retail 354 units – Planned 2019 303 units – 2018 403 units – Planned 2019 – Planned 2019

The Aerie Alta SOBO Station Broadway Station Partners 94 affordable units – 2014 187 units – Planned 2019 Office, residential, retail – TBD

15 Southwest

C

D Evans Station Lofts Englewood Civic Center Oxford Station Apartments Vita Berkshire Aspen Grove 50 affordable units – 2013 140k SF office – 2000 238 units – 2016 160 units – 2017 280 units – 2011

Encore Evans Station ArtWalk CityCenter 224 units – Planned 2018 445 units – 2001

Cherokee Flats Liv Apartments 139 units, 5k SF retail – Planned 2020 30 units – 2016

Broadway Acoma Lofts 111 affordable units – Planned 2018

16 Southeast, Part I Denver Tech Center 900 acres 25M SF of development 150k jobs R

H

F

E University Station Colorado Center Yale Station Camden Belleview Station Cielo Monaco Row Landmark Apartments 1987–2018 50 senior affordable units – 2011 270 units – 2009 201 units – 2009 204 units – 2013 271 condos/apartments, 60 senior affordable units Tower 1 – 180,000 SF Office 168k SF retail – 2008 – 2014 Tower 2 – 261,480 SF Office Tower 3 – 216,352 SF Office Annex – 60,948 SF Office 11,569 SF Retail

Garden Court at Yale Station Milehouse Pearl DTC The DEN 64 affordable units – 2016 353 units, retail – 2014 408 units – 2015 325 units, retail – 2016

Millennium Colorado Station Yale 25 Station Carillon Belleview Station One Belleview Station One DTC West 350 units – Planned 2019 112 units – 2018 163 senior units – 2018 315K SF office – 2018 75K SF office – 2018

The District 276 units, retail – 2004

17 W Line

W

Beacon 85 WestLink Indy Street Flats Lamar Sta. Crossing West Line Flats Regatta Sloan’s Arroyo Village Decatur Place Avalon Apts. 343 units – 2017 244 units – 2015 115 affordable units 138 affordable units 155 units 374 units 130 affordable units 106 affordable units 80 affordable units – Planned 2019 – 2014 – 2017 – 2015 – Planned 2018 – 2014 – 2014

Avenida Senior Living 229 senior units – Planned 2019 Pearson Grove 40-West Residences Flats at Two Creeks Perry Row Corky Gonzales CDOT HQ 82 townhomes 60 affordable units 78 affordable units 32 townhomes Public Library 175k SF – Planned 2020 – 2017 – Planned 2020 – 2018 25,000 SF – 2015 – 2018

Oak Street Townhomes 81 townhomes –2018 Luxe at Mile High 382 units – TBD

Outlook Golden Ridge Oak Station Apts Zephyr Line West Line Village Sheridan Sta. Apts Brandon Flats 172 units 291 units 95 affordable units 175 townhomes 63 affordable units 104 affordable units – 2015 – Planned 2019 – 2015 – 2018 – TBD – TBD Stadium District Master Plan Mixed use redevelopment – Planning ongoing

18 To summarize

• Economic Impact Analysis Nope, don’t have it! • TOD Trend Tool Coming soon! • Quality of Life Study Available now! www.rtd-denver.com/QofL.shtml • TOD Database/TOD in Pictures Available now!

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