Item #1€¦ · • Learn about Southern Nevada’s mobility challenges, new developments and...

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April 5, 2018

CITIZENS PARTICIPATION

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APPROVAL OF MINUTES

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TRAC GOALS, FRAMEWORK &

AGENDA REVIEW

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• Learn about Southern Nevada’s mobility

challenges, new developments and opportunities.

• Learn about smart communities, emerging

technologies and how these efforts can impact

and improve mobility, accessibility and safety in

Southern Nevada.

• Obtain feedback and recommendations on how

to best address and prioritize mobility solutions.

COMMITTEE GOALS

Meeting 5 – June 7, 2018 – On Board High Capacity Transit and Maryland Parkway

Recommendations; Pedestrian Safety Discussion; Smart Mobility and Innovation

Update; Projects of Regional Significance Update; Transit Funding Discussion and Peer

Communities

Meeting 6 – August 2, 2018 – On Board High Capacity Transit, Resort Corridor,

Maryland Parkway, and Traditional Transit Updates and Recommendations; Smart

Mobility and Innovation Update; Projects of Regional Significance Update; Transit

Funding Discussion

Meeting 7 – October 4, 2018 – On Board Study Overall Update; Smart Mobility and

Innovation Update; Transit Funding Discussion and Peer Communities Review

Meeting 8 – December 6, 2018 – Final Recommendations and Next Steps

MEETING FRAMEWORK

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Salt Lake City High Capacity Transit (HCT) and Transit

Oriented Development (TOD) Field Trip Recap

NextGen Transit Panel Discussion

Maryland Parkway Corridor

Upcoming Events

AGENDA REVIEW

SALT LAKE CITY HIGH CAPACITY

TRANSIT (HCT) AND TRANSIT

ORIENTED DEVELOPMENT (TOD)

FIELD TRIP RECAP

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NEXTGEN TRANSIT

PANEL DISCUSSION

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• RAHUL KUMAR, National Director of Emerging

Mobility, TransLoc

• JOSH SIKICH, Transportation Technology Program

Manager, HDR

• STEVE BLAND, CEO, Nashville Metropolitan Transit

Authority (MTA)

NEXTGEN TRANSIT PANEL

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NEXTGEN TRANSIT DEFINITION

NextGen Transit is the evolution of public transportation

leveraging advanced technologies, such as

autonomous systems, clean energy, predictive analytics

and dynamic responsiveness to optimize movement,

enhance safety, offer sustainable mobility choices, and

spur new economic development.

Nashville is growing rapidly

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Roads alone won’t fix it

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Let’s Move Nashville: What do we get?

✓ More buses, more often

✓ Light rail

✓ More sidewalks

✓ Mobility on Demand

✓ Safer intersections

✓ Neighborhood transit centers

✓ Downtown tunnel

A responsible investment

47% paid for by those

outside Davidson County

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MARYLAND PARKWAY CORRIDOR

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Differences between light rail transit

(LRT) and bus rapid transit (BRT)

MARYLAND PARKWAY

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• DR. IAN CARLTON, Project Director, ECONorthwest

• MICHAEL SALTMAN, President, The Vista Group

• WINDOM KIMSEY, President and CEO, TSK Architects

• SCOTT ADAMS, City Manager, City of Las Vegas

ECONOMIC DEVELOPMENT PANEL

Real Estate Investment Near Transit

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Methods

Potential and likely development:

o without transit

o with transit

Three complementary methods:

1. Corridor Market Conditions

Demand (trends and forecasts for population, employment, and building activity)

Supply (land supply, cost of development)

2. Development effects in other cities

3. User benefits (forecasted ridership) in the corridor

Parsons ECONorthwest, MIG & Dr. Arthur Nelson

Supply: Land SuitabilityRedevelopment Propensity

• High

• Medium

• Low

Acres of Vacant + Redevelopable Land: ~600

ECONorthwest, MIG & Dr. Arthur Nelson

Geography Vacant Partially Vacant Redevelopable Developed Outside Analysis Grand Total

Downtown 57 112 48 47 696 961

Segment 1 2 20 6 5 618 651

Segment 2 14 6 25 142 418 605

Segment 3 20 160 15 141 367 703

Segment 4 9 30 27 87 469 621

Segment 5 14 6 24 79 698 820

Grand Total 117 335 145 500 3,265 4,361

Development Status

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McCarran International Airport

BonnevilleTransit Center

City of Las Vegas

CLARK COUNTY

IND

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15

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SEGMENT 5

SEGMENT 4

SEGMENT 3

SEGMENT 2

SEGMENT 1

Universityof Nevada,Las Vegas

SunriseHospital &Medical Center

BoulevardMall

Downtown East(4th andFremont)

0 0.25 0.5 0.75 1

miles

MARYLAND PARKWAY SEGMENTS Source: City of Las Vegas, City of

Henderson, RTC

Maryland Parkway Proposed Stations


Maryland Parkway Segments

City Limits

Likelihood to Redevelop

Unlikely to Redevelop (0)

Low (1-5)

Medium (6-10)

High (10-15)

Housing Unit

Capacity

Commercial SF

Capacity

1,600 11,000,000

0 700,000

300 1,700,000

1,300 7,100,000

1,200 2,400,000

600 1,700,000

TOTAL: 5,000 24,600,000

Zoning Capacity

McCarran International Airport

BonnevilleTransit Center

City of Las Vegas

CLARK COUNTY

IND

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15

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SEGMENT 5

SEGMENT 4

SEGMENT 3

SEGMENT 2

SEGMENT 1

Universityof Nevada,Las Vegas

SunriseHospital &Medical Center

BoulevardMall

Downtown East(4th andFremont)

0 0.25 0.5 0.75 1

miles

MARYLAND PARKWAY SEGMENTS Source: City of Las Vegas, City of

Henderson, RTC

Maryland Parkway Proposed Stations


Maryland Parkway Segments

City Limits

Likelihood to Redevelop

Unlikely to Redevelop (0)

Low (1-5)

Medium (6-10)

High (10-15)

Housing Unit

(Market Ready)

Commercial SF

(Market Ready)

700 2,400,000

0 200,000

200 1,600,000

500 1,400,000

500 700,000

700 900,000

TOTAL: 2,600 7,200,000

Dev’t Implications

– With Transit

**4.5% rent premium

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Factors that Impact Development Outcomes

Icons designed by Freepik

Accessibility

Placemaking Policy

Agglomeration

Refocus

X-Factor

Transit investments impact real estate in numerous waysTransit-Related Impacts


Accessibility Agglomeration X-Factor

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Transit investments impact real estate in numerous ways

Government-Related Impacts


Placemaking Policy Refocus

Transit investments impact real estate in numerous waysFactors that Impact Development Outcomes


Accessibility

Placemaking Policy

Agglomeration

Refocus

X-Factor

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$3 $9

$17

$-

$20

Regional Light Rail Bus Rapid Transit Urban Light Rail*Do

llars

of

TO

D

Real Estate Investment per $ of

Transit Investment

Real Estate Investment Near Transit

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• Charlotte

• Denver (max: $15)

• Los Angeles (min:

$1)

• Phoenix

• Portland

• Boston (min: $1)

• Cleveland (max:

$115)

• Eugene

• Kansas City

• Las Vegas

• Ottawa

• Pittsburgh

• Atlanta

• Detroit

• Kansas City

• Portland

• Salt Lake City

• Seattle (max: $32)

• Tucson (min: $5)

Observed cities:

Note: (*) Typically referred to as Modern Streetcar Rail with an average investment length under three miles. Portland’s loop is the longest system in this dataset at 7.2 miles

and saw roughly $9 in real estate development per dollar invested in transit.

Source: Based on research related to Maryland Parkway: ECONorthwest & Arthur C. Nelson; “Literature Review: Effects of Transit on Economic Activity and Land

Development”; 2015. Adapted from ITDP report (“More Development for Your Transit Dollar” 2013) with recent streetcar data gathered by ECONorthwest

PROPOSED ROUTE

• Downtown to Airport

• 8.7-Mile Route

• Technology Options:• Bus Rapid Transit• Light Rail

• 25 Station Locations

0.35-mile spacing

Downtown Las Vegas30,000

Sunrise Hospital4,600

Boulevard Mall

1,000

McCarran International Airport16,000

UNLV5,500 employees30,000 students

Las Vegas Medical District12,000

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University District

University District

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University District

Boulevard Mall/Sunrise Hospital Area

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Downtown District

Medical District

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Medical District

Medical District

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MARYLAND PARKWAYLIGHT RAIL AND BUS RAPID TRANSIT

FUNDING OPTIONS

Maryland Parkway

Light Rail Transit (LRT) Funding$750 million Capital Cost

Conceptual Engineering Estimate

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Funding Possibilities – LRT

$750M – Capital Cost

Federal Transit Administration (FTA) New Starts Grant

–Up to 49%



Congestion Mitigation Air Quality (CMAQ) Bonds

– $15 million for 15 years

– Estimated Bond Proceeds of $164 million

– RTC Board and Executive Advisory Committee (EAC)

approval needed

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Fuel Revenue Indexing (FRI) for road improvement

costs only

–$125 million



Value Capture

– Capture the increased value from surrounding properties

for capital or operating costs

– Special Assessments

– Tax Increment, Property Tax & Sales Tax (Operating

Expenses)

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New Increment of Local Source Revenue

– Example: Sales Tax

– Potential 2020 ballot question

– Could fill the funding gap for capital and/or operating

costs


Operating Cost

• Fare Revenue - $5.4 million

– Estimating increased ridership

• From 9,000 to 16,100 passenger trips daily

• Route 109 Subsidy - $3.4 million

• Gap to fill - $4.3 million

– Possibilities

• New Increment of Local Source Revenue

• Value Capture

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Maryland Parkway

Bus Rapid Transit (BRT) Funding$335 million Capital Cost

Conceptual Engineering Estimate

Funding Possibilities – BRT


Federal Transit Administration (FTA) New Starts Grant

–Up to 49%

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Congestion Mitigation Air Quality (CMAQ) Funding

– $15.3 million for 3 years

– RTC Board and Executive Advisory Committee (EAC)

approval needed



Fuel Revenue Indexing (FRI) for road improvement

costs only

–$125 million

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Operating Cost

• Fare Revenue - $4.5 million

– Estimating increased ridership

• From 9,000 to 13,300 passenger trips daily

• Route 109 Subsidy - $2.7 million

Item #7 - Upcoming Events

TRANSIT-ORIENTED

DEVELOPMENT ROUNDTABLE

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OPEN DISCUSSION

Item #8

Item #9

FINAL CITIZENS PARTICIPATION

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