We need to start adopting the the Hong Kong funding model for transit: property development and holdings. The MTR acts as a real estate developer and business company, in addition to a transit operator. MTR actually MADE almost $15 billion HKD in profit in 2011.
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(Wikipedia). I witnessed this everywhere in my time spent in Japan. Most train stations were well connected to shops, businesses, entertainment, and residences. Everything was highly accessible and very liveable. I would constantly compare back to the stark bareness back home and wonder why haven't we done this. I called them Transit-Hub Centric Communities.
...so an organization builds a transit corridor - the stations, with attached multi-use developments, with retail, amenities, and residential. The organization retains ownership of the property and is now able to profit from the demand it created for itself with increased foot traffic. The profit will be from leasing real estate and increased property values. Local government gets increased revenue from more property tax, sales tax, etc... which can be used to pay for the initial investment.
Another example is the following from Hong Kong:
How Transit Systems Can Make Money
Recently Jay Walder, former head of New York’s subway system, the MTA, left his job to take over Hong Kong’s transit system, the MTR. For Walder the move means a lot more than one different letter on his business card: it means a salary raise from $350,000 to about a million bucks.
The reason Hong Kong’s metro system can afford to pay its chief so much more than New York’s is that, unlike the MTA, which faces a $10 billion shortfall, the MTR actually makes money. Lots of money. Like 8.7 billion Hong Kong dollars lots, according to Bloomberg, which is more than a billion U.S. dollars a year.
So what accounts for the enormous difference in financial success between the two systems? Cue Alex Marshall of the Regional Plan Association:
The answer is that Hong Kong’s MTR doesn’t let private developers be the only ones that perch next to its stations. It builds its homes, offices and stores. In short, MTR acts as a real estate developer and business company, as well as a train operator. It owns, among other things, 12 shopping malls built around its stations. These properties and businesses produce substantial cash, which keep the transit agency as a whole in the black.
Whereas New York City sells the real estate near its subway lines, Hong Kong develops it — creating what Cap’n Transit calls “an integrated product” of property and access. In other words, MTR not only runs Hong Kong’s trains but it also owns a lot of the properties these trains serve. This side business generates a huge amount of revenue that can be recycled back into the system itself.
Marshall seems to think American cities in general — and New York in particular — can get in on the action. Still such a course would require a “huge change in our thinking,” Marshall recently told WNYC, since Americans typically cringe at the idea of government owning potentially private property. Then again, they also cringe at fare hikes and service cuts.
By Eric Jaffe
This is an EXCELLENT opportunity for Translink, the Metro Vancouver transit authority to get a positive revenue stream and self finance future transit projects, instead of relying so heavily on taxpayers' dollars.
Current opportunities include property that Translink already owns, such as the many Park-and-Ride lots in Metro Vancouver. A prime example for current development, with a transit-hub already there, would be Scott Road station and its attached Park-and-Ride. King-George station also has an attached Park and ride, that can build off the current Infinity developments there. The Bridgeport station is also another opportunity.
A local example of this model is the current development happening at New Westminster Station. Plaza 88, being called an urban transit village, is a great starting point if Translink can get in on the game. The development integrates condos, shopping, restaurants, and other amenities with direct access to a transit-hub. It's a Transit-Hub Centric Community.
"It's very un-mall like. We tried to treat it as a station, as opposed to a shopping mall. We believe that this adds to the inclusiveness within New Westminster ..."
Please ignore the bad rendering and overly clipped music in the following video:
And more here from Skyscraperpage forums
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"options" are just to increase taxes and fees or increase them more.
Perhaps its time for them and us all to consider other possibilities in generating revenue for the future of transit infrastructure. Why not allow corporate sponsorship naming rights to transit stations and hubs? I'm serious. This has been done before in other parts of the world, such as Las Vegas (it was huge in getting their monorail built). This could generate Millions of dollars that would go a very long way in improving Metro Vancouver's transit. Com'mon, the "Bell Patterson Station" doesn't sound so bad does it?
Further, Translink should maximize its advertising revenue. Edmonds Station is a prime example. The bus loop there has a shelter with several poster light boxes for ads. All of which have been pretty much blank since the 90s! I remember a year or two ago seeing one old poster advertisement up. It was for BC Clean Air Day 1994!
Also, be smarter with money! maximize our transit options - The 'Skytrain' option is a luxury item that costs more but gives less. There are other smarter mass transit options such as Full Bus Rapid Transit and light rail, that give more service for the buck!
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The 'loop city' proposal builds on the famous '1947 finger plan', which focused on connecting the suburb to the center. BIG proposes to continue to connect the area around the øresund strait in a sustainable spine of public transport, energy exchange and electric car infrastructure. the resulting development model circumscribes around the base of the 'hand', much like a bracelet, to combine new programs with the metro stations, providing an urban outlet throughout the suburbs.
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BUS RAPID TRANSIT PLANNING GUIDE
Link: http://www.itdp.org/index.php/microsite ... ing_guide/
It is the culmination of over five years of efforts to document and improve the state of the art in cost-effective public transport solutions for cities. This edition, expanded to over 800 pages, includes ...
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Streetfilms | Curitiba’s BRT: Inspired Bus Rapid Transit Around the World
Curitiba, Brazil first adopted its Master Plan in 1968. Since then, it has become a city well known for inventive urban planning and affordable (to the user and the city) public transportation.
For BRT to really be successful, it must be perceived and treated as a form or Rapid Transit - like a subway, not just a bus.
Successful BRT needs:
-Dedicated lane ways.
-STATIONS (not just some bus stop, a real station. remember this is rapid transit, it should be treated like a subway station).
-Advanced fare collection at the stations.
-Fast methods of boarding/disembarking buses.
It is interesting to note that so called rapid bus lines in Metro Vancouver has none of these.
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Worldchanging: Bright Green: Parking Done Right
Decrease the price of parking at times of day, such as mid-morning, when spots are under-utilized Increase the price of parking during times of heavy use, with the goal of achieving an average occupancy rate of 85% Extend the metered parking until later in the evening in certain neighborhoods to mat...
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StreetFilms.org! They do an amazing job covering ideas (in practice or in process, past and present) on making urban spaces more livable.
Streetfilms | Documenting Livable Streets Worldwide
It's not everyday that you get to ride bikes in a big metropolis with a member of Congress, even one who loves to bicycle whenever he can. Rep. Earl Blumenauer dropped by Transportation Alternatives' offices to ...
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City of Surrey "The Future Lives Here"
An economic development showcase for the City of Surrey, British Columbia.
[Update]: Looks like the video got revised - updated the embed link.
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Trick or Treat for a Community | All About Cities
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Surrey should develop an awesome masterplan to guide it in its development throughout the coming years, decades, and centuries.
Some great examples of masterplans that I have looked over in the past year include Curitiba, Brazil; Greensburg, Kansas; and various cities around the world. Check out the innovative approaches that Curitiba and Greensburg have taken/are taking!
I've realized that I didn't clarify that a Masterplan is a comprehensive outline for the urban planning of a city.
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a former elevated railway gets turned into a park! : High Line Park!
An awesome example of urban re-purposing of derelict or unused space. Turning an overpass or existing structure into something new can be amazing feats of urban design.
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