Posts Tagged ‘development’

All Aboard! Metro Welcomes New Development Planned at Rhode Island Avenue

July 22nd, 2015 No comments

A redevelopment project planned for Rhode Island Avenue Metro station, one of the largest such projects in the District, could bring $2.3M per year in new fare revenue for Metrorail.

A venture led by MRP Realty is proposing a mega project near the Rhode Island Avenue metro station, which when constructed would add over 1,500 residential units and retail to that transit-oriented community.  That’s fantastic news for the District, which needs household growth to resolve its structural fiscal deficit, and also for Metro and the region, which benefits each time we add transit-oriented development that drives ridership and revenue.

Image Courtesy MRP Realty

Image Courtesy MRP Realty

At Metro we find this especially exciting because it is yet another example of how changes in development are in part fueling a ridership resurgence.  Our Land Use-Ridership model conservatively suggests that this project will yield an additional 3,200 rail entries per day systemwide, generating rail fare revenues of around $2.3 million per year. Whether this ridership actually materializes – or is even higher – depends on the developer building good pedestrian connections to the Metro station and the Met Branch Trail.

In addition, this project could be a good opportunity to create a pedestrian connection between the station and the neighborhoods to the north, where potential Metrorail riders are blocked from the station’s “walk shed” today.  The current conditions include a challenging combination of grade changes and physical barriers behind the shopping mall, creating pedestrian barriers outlined in red below. The key question will be whether the development will help fix the barrier along the north side of the site, which would only increase the ridership- and revenue-generating potential of this project.

Image Courtesy Google Maps

Pedestrian barriers in red. Image courtesy Google Maps

The property tax benefits of the project all accrue to the District, and the increased revenue to WMATA doesn’t come for free – the system will need to handle the additional passengers and incur additional operating costs and potential wear and tear on the system.  Right now there isn’t a defined mechanism for WMATA to recoup the value of real estate property taxes to fund capital renewal or expansion.  But certainly anything that contributes to the operating health of the transit agency through increased ridership and revenues goes a long way to promoting financial stability for the Authority, as well as lowering the operating subsidy burden it requires to run the system.

Going Up – Why the Construction Pipeline Means Higher Metrorail Ridership (Part Two)

April 7th, 2015 6 comments

In Part Two of this series, we forecast the impact of the region’s near-term development pipeline on Metrorail ridership, using the Land Use-Ridership model. The good news? Metrorail ridership is set to show big gains. The bad news? Your ride just got less roomy.

Just as we were putting the finishing touches on this post, we saw a flurry of news articles detailing the regional market forces that portend increased rail ridership. Millennials choosing not to drive, even as they grow up.  Office parks in far-flung places experiencing devaluations while Metrorail-adjacent areas capturing the lion’s share of new leases.  Marriott announcing that it will seek a transit-accessible location when it moves.  And even defense contractors coming to bat to argue for the economic benefits of the Purple Line. All of this free publicity set us up nicely for what we wanted to share with you – the first results of the Office of Planning’s Land Use-Ridership model as applied to near-term development projects.

The Near-Term Pipeline. Researchers at Jones Lang LaSalle have been compiling a list of actual development projects – under construction, or planned – near Metrorail stations, so that we can forecast the near-term capital needs for the system. A huge amount of development (over 105 million square feet!) is on the books for within a half-mile of a Metrorail station.

NearTermPipeline_Thumbnail

Map of near-term development projects near Metrorail, by building type (click for full image)

So, How Much Ridership? What impact will all of this have on Metrorail? We ran these projects through the Land Use-Ridership model, and what we found was both intuitive – and startling. Read more…

Take a Tour of Vancouver via the SkyTrain – Then and Now

July 29th, 2013 1 comment

This video of the Vancouver SkyTrain (Expo Line), then (1986, in time for Expo 86) and now (2012), was making the transit news rounds.

We thought we’d share it, because it reminded us of Arlington, and the growth that’s occurred since the Orange Line opened there in the late 1970s. If the Orange Line was above ground, then someone could’ve made a similar video! In the meantime we’ll have to stick to pictures to compare how the landscape has changed since the introduction of the Orange Line. High rises sprouting up and general development with the addition of rail is the common theme here.

Enjoy the ride!

 

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