Tuesday, February 12, 2008
Turning Transit on Its Head
“We would certainly support any kind of development along any of our transit lines, whether bus or rail, that would improve ridership and add another place for our riders to go in the immediate vicinity of a shop or station”. This statement came from a Port authority official and was in reference to a Pittsburgh Business Times article on plans to spur residential, retail, and commercial development near or on PAT property, sometimes with creative financing methods.
Specifically in the South Hills, where the trolley line runs through the suburbs and into Downtown Pittsburgh, there have already been planning meetings and wish lists created for the sites where the trolley stops. High density condominiums with integral parking have been mentioned for several communities, neither of which have upscale development as it is presently envisioned. Another community spoke of “a New York City-style neighborhood with condos, a bank, grocery store and theater with the T running right alongside”.
The state has even created a special financing district option, a Transit Revitalization Investment District, or TRID, which will allow the taxes from the special development to be captured and used to retire debt. It is exactly like a TIF, except targeted at transit areas.
While it all sounds nice, it represents another feeble attempt by PAT to grow its mission beyond running a transit line and making that transit line as cost-effective as possible. Now the state has permitted it to act as developer and try to attract activity closer to the rail line and bus stops in the hope that someone might part with some of their money on a condo. If people were attracted to the possibility of light rail, the South Hills communities would be booming with development and the private sector would be begging to be build on PAT property. Instead, we have yet another top-down development scheme aimed at propping up PAT ridership.
Mass transit is supposed to provide transportation. It is not supposed to be in the real estate development business.
Specifically in the South Hills, where the trolley line runs through the suburbs and into Downtown Pittsburgh, there have already been planning meetings and wish lists created for the sites where the trolley stops. High density condominiums with integral parking have been mentioned for several communities, neither of which have upscale development as it is presently envisioned. Another community spoke of “a New York City-style neighborhood with condos, a bank, grocery store and theater with the T running right alongside”.
The state has even created a special financing district option, a Transit Revitalization Investment District, or TRID, which will allow the taxes from the special development to be captured and used to retire debt. It is exactly like a TIF, except targeted at transit areas.
While it all sounds nice, it represents another feeble attempt by PAT to grow its mission beyond running a transit line and making that transit line as cost-effective as possible. Now the state has permitted it to act as developer and try to attract activity closer to the rail line and bus stops in the hope that someone might part with some of their money on a condo. If people were attracted to the possibility of light rail, the South Hills communities would be booming with development and the private sector would be begging to be build on PAT property. Instead, we have yet another top-down development scheme aimed at propping up PAT ridership.
Mass transit is supposed to provide transportation. It is not supposed to be in the real estate development business.
