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