How can Ontario deliver true value for communities from Transit Oriented Development (TOD) and encourage investment in quality assets from the private sector?
Transit Oriented Development has become a key part of the Government of Ontario’s transit and urban development strategy. It aims to help offset some of the costs of developing transit infrastructure, provides a better end-user experience, and helps to provide more housing and office space within walking distance from transit.
Transit Oriented Development is well-established around the world, although the idea is more common in locations with high density and high land value. The GTHA has a combination of high density/high value, and smaller density/lower value station sites.
There are also other factors that need to be considered including land ownership, site space constraints, site-specific factors, land-use designations, local stakeholder issues. This variety of factors presents unique challenges and opportunities at each site across the Metrolinx and TTC network.
Key Questions to Address:
- How is the interface in both development time and physical space managed between both the development and infrastructure communities?
- How will proponents resolve issues around municipal development with specific regard to scheduling?
- What does the financing package look like for a TOD?
- What is the most effective way to add competitive tension or get fair value?
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