Transit Infrastructure as an Economic Stimulus
While the housing market has not bounced back fully from the economic crisis, some parts of the nation have managed to see growth in infrastructure developments – particularly around rail transportation.
Catching up on some reading, I came upon a recent Spotlight in the Real Estate section of the New York Times on the connection between rail transit and urban renewal. The article focuses on a number of communities around America that are investing in rail expansion, in a greater effort to increase economic prosperity. And while some of these projects have seen new housing and commercial developments sprout up adjacent to new transit lines, the more visionary approaches have made it a point to create so-called “livable neighborhoods” near transit corridors that focus on mixed-use property and bring a community together at a bustling town or city center.
The key term here: collaboration. The projects cited in the article would not have moved full steam ahead (pardon the pun) if it were not for governmental efforts to secure public funds, while reworking some zoning laws and offering incentives for private developers to invest in a project. Working in partnerships has driven new business into these neighborhoods and has spawned redevelopment. The coalitions between different stakeholders mentioned in the article exemplifies the importance of working together on finding solutions for renewal.
I invite you to check out the entire article on the New York Times website. If you know of any other community revivial projects around the nation, feel free to comment on this post. To keep up to date on any transportation or economic development news, visit RenewLV’s Join Us page and fill out a supporter form, making sure to check the boxes next to Transportation and/or Community and Economic Development.
Posted on July 7, 2009, in Media Coverage, Municipal Government, Neighborhoods, Public Infrastructure, Regions, Transportation, Urbanism and tagged community, economy, national, Neighborhoods, rail service, urban development. Bookmark the permalink. Leave a comment.