RV 2014: Equitable Development- TOD in a Distressed Economy
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Transcript of RV 2014: Equitable Development- TOD in a Distressed Economy
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{
EQUITABLE TOD & PHOENIX???
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HOW DO MANY PEOPLE VIEW PHOENIX AND
ARIZONA?
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HOW DO I GET OUT?
WELCOME TO MY HOME!
LOVE MY PEDESTRIAN FRIENDLY NEIGHBORHOOD!
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BUT THERE IS A METRO PHOENIX
MOST PEOPLE DO NOT KNOW
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We are very diverse---Caucasian Population-62.6% in USA, 56.7 Arizona, Phoenix 46.5%
We are working on bikeshare
We are figuring out this sustainability
thing!
Light Rail is Booming
Downtown Phoenix is growing rapidly
We are eclectic and interesting
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Longest starter segment ever=20 miles---linked job centers, Arizona State University, Sky Harbor Airport, entertainment venues, etc.
Metro Light Rail Opened at the end of 2008
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Picture of train going over a cliff
So just as light rail opened you know what happened with the economy at the end of 2008
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But with the CRASH came opportunities
LIGHT RAIL RIDERSHIP
Predicted when open 26,000 weekday and 16,000 weekend
End 2013-Average 39,000 EVERY DAY
LAND PRICES
Values fell 25-75%
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Our Eureka Moment
BUT even with that crisis---between 2010 to 2050 the Phoenix metro area will grow by 4 million people—that is like sticking Los Angeles or 10 Minneapolis’ in your
region
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Sustainable Community
Collaborative
Local government
s
LISC and RAZA
DevelopmentRegional
Planning Entity
Valley Metro-light rail and
bus
Local CDCs
Private sector
Foundations & Local
Organizations
State government
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a. TOD Housing Demand Studyb. TOD scorecard and evaluation
guide for neighborhoodsc. Sustainable Communities Fundd. Arizona Dept of Housing re-tooling
of the LIHTC qualified allocation plan
e. Reinvent PHXf. Land Bank-we tried…..
The Sustainable Community Collaborative led to…
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Demand for TOD housing along the 20 mile light rail alignment
was huge
Imme-diate
Demand
Demand 2010-2040
Total Demand by 2040
Demand under
80% AMI
0
20000
40000
60000
80000
100000
120000
140000
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TOD Scorecard and Evaluation Guide for Neighborhoods
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$$20 million from LISC
and RAZA Development for land acquisition and pre-
developmentOver $10 million distributed to
date
Sustainable Communities Fund
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Three years ago the State made a deliberate change to the QAP and how the Low Income Housing Tax Credit applications were to be scored**Heavy emphasis on proximity to light rail and frequent bus service**Heavy emphasis on sustainable developmentRESULT: 1,266 units built near light rail in 4 years since the policy change
Arizona Department of Housing-Qualified Allocation
Plan
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Projects built/coming in this new environment
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Re-Invent PHXTOD Planning and zoning changes to make way for
development when the time is right
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Where we failed…….
LANDBANKING
5.5 acre parcel where price fell 60%
Light Rail Stop
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Conceptual planning of publicly owned TOD site in Downtown
Phoenix
¼ mile
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