Re: Transit-Oriented Developments

TODs make perfect sense for not only the next wave , but as a means for quicker absorption of the current overhang of inventory in the suburban housing markets as well. It is understood & agreed that the per capita consumption of utilities of urban vs. rural residents is much lower. That being the case, then development surrounding mass transit as well as commuter corridors in both urban & suburban markets makes sense. By giving consumers more accessiblity choices will bring an increase to the elastic demand for new residential construction and the inevitable retail and services that follows. Existing suburban development will not expand again until all current overbuilt inventories of both new & used homes are absorbed. There is a market, but accessibility to work/ job locations hampers that demand.

Demographically, baby boomers are preferring to downsize in greater numbers. They are hoping to sell their suburban family-sized homes to younger families that are in need of more space & great schools for their growing families. The boomers are then free to move to smaller quarters that have more amenities, i.e. shopping, services, healthcare, entertainment & employment within walking distance or short commuting range. Conversely, the twentysomethings to fortysomethings who are currently raising young children are pretty much forced to move to suburban areas where the quality of life, neighborhoods, schools & infrastructure already exist. The cost of reproducing new schools either in the cities OR suburbs is totally unnecessary. By utilizing existing facilities & making them much more Energy Efficient is creating current jobs plus reducing ongoing Operating Costs. By enhancing commuter accessibility options through expanding, renovating, rebuilding our transportation systems infrastructure & its efficiency: we would enhance our mobility and be much better off in both short & long term perspectives. Downsizers want to sell and relocate to pedestrian & commuter friendly locations, while growing families need larger homes w/ great schools. WE ALL need access to greater mobility via mass transportation & commuter improvements to get to work & home locations. It is a reverse trend with pent up demand by each market segment. This demand can be loosened up with commuter & transit spending as the impetus for construction & development of new TOD's!

Like it or not, the Federal Government is in fact "the Spender of Last Resort" as private investment money & the conventional capital markets are still keepping their money in their "jean's pockets"! They are waiting for a good reason to invest in new development. Most of the stimulus funds have not been released into these sectors, instead efforts have been concentrated in other areas. Many of these Transit- Oriented infrastructure enhancements are "shovel ready", but have not been funded. Communities & their residents need to contact their local representatives to bring some of these Federeal $Stimulus Funds to their districts in order to stimulate local economies & to provide the synergies necessary to get private capital back into the development game thereby creating new jobs & reinvigorating local economies with monetary recirculation, essential for consumer confidence. $pending on transportation & commuter accessibility enhancements will reinvigorate TOD's which in turn will enable commuters better access to job & work locations and make suburban residential communities easier to absorb. Transportion accessibility improvements are a WIN/WIN for everyone.

James McPartlan,
PDG Provident Development Group, Promoting Energy Efficiency & Renewable Energy Solutions