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Case Study

New Light Rail Transit Extension Transit-Oriented Development

InnovationAlliance for Innovation Recommended

by City of Virginia Beach, VA for the Alliance for Innovation

In some fiscally constrained localities, generating new tax revenues to offset the rising cost of core services can be difficult. One strategy for increasing revenues is to invest in supplementary reliable mass transit infrastructure. To determine transit-oriented development (TOD) tax revenue benefits attributable to light rail extensions in a locality, an eight-step forecasting model was developed. The steps include light rail transit (LRT) station location, economic activity per parcel, land usage dynamics, anticipated redevelopment immediacy, parcel improvement quality gradations, TOD premiums, build-out scalability, and substitution and displacement effects. The City sought and received University level validation

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Year
2017

Jurisdiction
City Of Virginia Beach, VA
Jurisdiction Type
City
Population
437,994

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