Measuring the Success of Transit-Oriented Development: Retail Market Dynamics and Other Key Determinants

  d on TOD implementation for more than a decade. In the process, some excellent resources have been developed. For example, workbooks have been produced and workshops convened to encourage TOD in the Puget Sound region (PSRC 1998; Puget Sound Regional Council 1996; Snohomish County 1993; Energy Outreach Center 1997). These efforts have identified available policy initiatives that could encourage TOD.

Local governments have several policy tools available to leverage denser and more diverse development within TODs. These include the provision of public amenities such as parks, recreational facilities, and government services. Private development can be induced through density bonuses, tax abatement, tax increment financing, and direct grants. Joint development schemes serve to stimulate developer interest. Porter (1997) has reviewed the policies and actions taken by local government and transit agencies in a number of metro areas. He concludes that light rail is likely to attract relatively small development projects outside of central business districts (Porter 1998).

Many actions involve expenditures of some kind, so they will be subject to the financial limitations of local government budgets. They will have to compete with other demands on the public purse. Also, to the extent they are offered to a few developers, there may be pressures to provide similar benefits to others who cannot, for whatever reason, operate within the confines of a TOD. The cost of these expenditures obviously must be weighed along with transportation costs in planning TODs.

Discussion: Importance of Retail Dynamics

The potential for

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