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business climate, car-free, Jane Jacobs, New Urbanism, Parkinson's law, place-making, Ray Oldenburg, ride hailing / ride sharing, Ronald Reagan, skinny streets, The Death and Life of Great American Cities, The Great Good Place, transit-oriented development, urban decay, urban renewal, urban sprawl, walkable city
(Indeed, the speed difference of various forms of travel on a route—the “speed differ-ential”—determines their ability to coexist peacefully on a street or path. If bicycle and pedestrian speeds differ too widely on a path, pedestrians feel uncomfortable; high car speed on a street makes both pedestrians and bicyclists feel unsafe.) PUBLIC TRANSIT AND TRANSIT-ORIENTED DEVELOPMENT Generally, the intent of a transit-oriented development (TOD) or transit village is a transit stop or station surrounded by relatively high-density residential and commercial development, which transitions toward lower densities in concentric rings further from the center of the TOD. Examples of TODs include the Sunnyside Transit Village near downtown Portland, Oregon; TODs in Redmond, Renton, Seattle, and Shoreline, Washington; and SkyTrain stations in Vancouver, British Columbia.9 To promote use of transit, cities sometimes set a goal that strives to locate much of the region’s new housing within a quarter mile of a transit route.
Department of Transportation, Measures to Overcome Impediments, 43 . 6. U.S. Department of Transportation, Reasons Why Bicycling, 59. 7. U.S. Department of Transportation, The National Bicycling and Walking Study, 30. 8. Burden, Bike Lanes. 9. Litman, “Transit Oriented Development,” 5. 10. “Shorts.” 11. Lincoln Institute of Land Policy, Making the Land Use, 4. 12. Corbett, Portland’ s Livable Downtown. 13. Belzer and Autler, “Transit-Oriented Development,” ii, 4, 5, 8, 14. 14. Moore and Thorsnes, The Transportation/Land Use Connection, 72, 106, 112. 15. But excluding land, lighting, security, parking enforcement, increased air pollution, increased water pollution, increased noise pollution, reduced aquifer recharge, and discouragement of pedestrians and bus riders.
Cities such as Eugene, Oregon, Cambridge, Massachusetts, and Gainesville, Florida, have changed their zoning codes to establish maximum instead of minimum parking requirements for new development. Seattle is now thinking about expanding downtown maximum parking rules beyond downtown to promote transit-oriented development near transit stations for a new rail line.2 Many traffic analysts agree that “market-based pricing of parking would be the single most effective strategy for reducing parking,” as a U.S. Environmental Protection Agency policy analyst states flatly.3 “If parking were priced at market levels, a predictable reduction in demand is to be expected.
The Option of Urbanism: Investing in a New American Dream by Christopher B. Leinberger
American Society of Civil Engineers: Report Card, asset allocation, big-box store, centre right, credit crunch, David Brooks, desegregation, Donald Trump, drive until you qualify, edge city, full employment, Jane Jacobs, knowledge economy, McMansion, mortgage tax deduction, new economy, New Urbanism, peak oil, Ponzi scheme, postindustrial economy, RAND corporation, Report Card for America’s Infrastructure, reserve currency, Richard Florida, Seaside, Florida, the built environment, transit-oriented development, urban planning, urban renewal, urban sprawl, walkable city, white flight
Regional-serving places can also include housing, which can provide a base of support for commercial and entertainment uses as well as eyes and ears on the street, which increase safety. Many readers familiar with recent trends in the built environment will notice that I have not used some terms common over the past fifteen years, such as “transit-oriented development,” “New Urbanism,” and “traditional neighborhood development” (TND). The description “transit-oriented development” can and does apply to most regional-serving, walkable urban places. (It is possible, but not ideal, to be nontransit-served and still create 118 | THE OPTION OF URBANISM walkable urbanism, as some of the examples below demonstrate).
HT384.U5L45 2008 307.760973—dc22 2007026186 Printed on recycled, acid-free paper Manufactured in the United States of America 10 9 8 7 6 5 4 3 2 1 Search terms: urban, suburban, sprawl, auto-dependent, real estate product development types, transportation, Futurama, affordable housing, inclusionary zoning, impact fees, New Urbanism, transit-oriented development, American Dream, S&L crisis, walkable urbanism, drivable sub-urbanism, global warming, carbon load, obesity, asthma, favored quarter, metropolitan, regionalism, urbanization, population growth, REIT For Helen, Lisa, and Tom Also for Bob, Gadi, Joe, Pat, and Robert C ONTENTS Preface | ix INTRODUCTION 1 FUTU RAMA | AND THE 1 2 0 TH- C E N T U RY AMERICAN DREAM | 12 2 TH E R I S E 3 T H E S TA N D A R D R E A L E S TAT E OF D R I VA B L E S U B - U R B I A | P R O D U C T TY P E S : W H Y E V E R Y P L A C E LO O K S L I K E EV E RY PL AC E EL S E 4 CONSEQUENCES OF D R I VA B L E SUB - URBAN GROW TH 5 63 TH E M A R K E T R E D I S C OV E R S WA L K A B L E U R B A N I S M 6 | | 86 D E F I N I N G WA L K A B L E U R B A N I S M : WH Y M O R E IS BETTER | 113 vii | 45 31 viii | CONTENTS 7 UNINTENDED CONSEQUENCES WA L K A B L E U R B A N I S M 8 ACH I EVI NG LEVELING THE THE | OF 13 8 NEX T AMERICAN DREAM : P L AY I N G F I E L D AND I M P L E M E N T I N G WA L K A B L E U R B A N I S M N OT ES INDEX | | 177 2 01 | 15 0 P REFACE When I was a young child my mother took me to Center City, Philadelphia from our inner-suburban home to visit my father in his office and to go shopping.
Environmental Protection Agency in 2007, based upon their national consumer research studies, that “one third of the consumer real estate market prefers smart growth T H E M A R K E T R E D I S C OV E R S WA L K A B L E U R B A N I S M | 9 7 development” (another term for walkable urbanism and defined by RCLCo as “new urbanism, transit oriented development and urban and suburban in-fill”) and that “there is no doubt the size of the market is growing.” The RCLCo conclusions were gathered from twelve in-depth, scientific consumer research surveys of thousands of individuals in metropolitan areas such as Atlanta, Phoenix, Charlotte, Chattanooga, Orlando, Albuquerque, and Boise—hardly old-line eastern cities with transit systems.
The Great Inversion and the Future of the American City by Alan Ehrenhalt
anti-communist, big-box store, British Empire, crack epidemic, David Brooks, deindustrialization, Edward Glaeser, Frank Gehry, haute cuisine, Honoré de Balzac, housing crisis, illegal immigration, Jane Jacobs, manufacturing employment, McMansion, New Urbanism, postindustrial economy, Richard Florida, The Chicago School, The Death and Life of Great American Cities, too big to fail, transit-oriented development, upwardly mobile, urban decay, urban planning, urban renewal, walkable city, white flight, working poor, young professional
Belmar may come as close to the model of retrofitted suburbia as anything that has been completed so far. There is only one component that it lacks: It has no transit system, and it is unlikely ever to get one. OF THE NEARLY DOZEN SUBURBAN RETROFITS designed or planned in the metropolitan Denver area, only one really qualifies as a transit-oriented development, and that is CityCenter Englewood, on the east side of metropolitan Denver, not too far from Stapleton. One can ride a light-rail train right to the entrance of the town center, cross over a pedestrian bridge with impressive metal trusses, and stand in a civic courtyard in which the town hall has taken the place of an old department store in the middle of Cinderella City, an enclosed mall built in 1968 and dead by the last of the 1990s.
The amount of pedestrian-oriented retail shopping is very small, about seven thousand square feet in all. A few hundred yards beyond the impressive civic building is a power center with Walmart and the usual giant big-box tenants. This center is an enormous help in paying the taxes of a community of about thirty-two thousand people, but it turns its back on the light-rail station and on transit-oriented development in general. Walking from the station to the Walmart is not only a difficult experience, it is barely a feasible one. CityCenter Englewood is essentially a small, pleasant enclave masking oceans of asphalt. Perhaps the most remarkable thing about the project is that a few blocks beyond all of it, beyond the town green and the town hall, the power center with the big-box stores, there is an old, slightly seedy, but interesting prewar downtown, with locally owned businesses still open.
A shopping center was eventually built just across the road from Kentlands, and the residents could walk to it, but it was everything the New Urbanism abhors: cookie-cutter, strip mall–type retail units separated from the street by acres of parking lot. Kentlands hasn’t been a failure by any means. As the years went by, it regrouped in an increasingly urbanist direction and attracted a larger pedestrian-friendly retail component. But it is not a transit-oriented development: The way to get there is by car, and only by car. By 2005, the New Urbanists had demonstrated that they could build successful residential projects on greenfield suburban land. But they had not demonstrated that they could comfortably put together all the pieces that genuinely urbanizing suburbia would need: residential, retail, offices, and public transportation.
The End of the Suburbs: Where the American Dream Is Moving by Leigh Gallagher
Airbnb, big-box store, Burning Man, call centre, car-free, Celebration, Florida, clean water, collaborative consumption, Columbine, crack epidemic, East Village, edge city, Edward Glaeser, extreme commuting, helicopter parent, Home mortgage interest deduction, housing crisis, Jane Jacobs, low skilled workers, Mark Zuckerberg, McMansion, Menlo Park, mortgage tax deduction, New Urbanism, peak oil, Ponzi scheme, Richard Florida, Robert Shiller, Robert Shiller, Sand Hill Road, Seaside, Florida, Silicon Valley, Steve Jobs, Stewart Brand, the built environment, The Death and Life of Great American Cities, Tony Hsieh, transit-oriented development, upwardly mobile, urban planning, urban sprawl, Victor Gruen, walkable city, white flight, young professional, Zipcar
The suburbs are built for life with kids, and we’re not having nearly as many of them. There are a variety of reasons for this that we’ll explore later, but the implication is the same: “The whole Ozzie and Harriet day has passed,” says Peter Calthorpe, the San Francisco–based architect and urban planner who pioneered the notion of transit-oriented development and who, as a cofounder of the New Urbanism movement, is one of the leading thinkers on alternative growth models to conventional suburban development. Millennials hate the burbs . . . America’s eighty million so-called millennials, defined for the purposes of this book as those born between 1977 and 1995, are an enormous group—bigger than the baby boomers.
See New Urbanism; Walkable communities varieties of, 9, 13, 15–16 Suburbs, The (album), 51, 79 Suburgatory (TV series), 91 Susanka, Sarah, 137, 139–140 Swank, Larry, 7 Target, 18, 172 Taxation mortgage interest deduction, 35, 61, 74–75 property, limitations for community, 58–59 Taylor, Kate, 51 Thompson, Boyce, 6 Tinyhouseblog.com, 138 Tiny House movement, 138 Toll, Bob, 68–70 Toll Brothers future projects, 198, 207–8 outer suburban development by, 68–69 urban developments by, 6, 18, 23, 163–66, 172, 190 walkable community by, 129 Top Tier Towns, 204 Touraine, New York City, 164–65 Tragedy of the Commons, The (Whitney), 59 Transit-oriented development, 19 Transportation automobile dependence. See Automobiles; Commuting costs, and household budget, 100–101 mode split, 82 and suburban development, 29–34, 62 Treehugger.com, 139 Tribeca, New York City, 17, 151, 169 Tucker, Raymond, 48 Tumlin, Jeffrey, 93 Twitter, 51 Unleashed (store), 18 Ur (Mesopotamia), 27 Urbanized suburbs.
active transport: walking or cycling, Berlin Wall, British Empire, car-free, conceptual framework, congestion charging, corporate social responsibility, decarbonisation, energy transition, eurozone crisis, glass ceiling, megacity, meta analysis, meta-analysis, New Urbanism, peak oil, post-industrial society, price mechanism, smart cities, telepresence, the built environment, The Death and Life of Great American Cities, The Spirit Level, transit-oriented development, urban planning, urban sprawl
Second, if travel distances are short, then it becomes more attractive to walk and cycle- particularly if space is allocated for exclusive rights of way- and to use public transport, and this in turn reduces the energy use and the environmental impacts of transport.” “Accessibility as a priority rather than transport.” “Recasting the sector’s primary objective as one of enhancing accessibility invariably lead to a different set of policies and strategies, like transit-oriented development and the provision of highly interconnected bikeway networks. These strategies not only conserve, land, energy and financial resources, but also help the poor and those without privatized motorised vehicles to access goods and services within the city. In short, accessible cities are inclusive, resourceful and pro-poor.”
The rationale Spatially dispersed, car dependent cities are expensive to build and maintain, require large amounts of energy to sustain normal life, produce large amounts of pollution and greenhouse gases and increase vulnerability to energy shocks and food availability. Cities should be managed to achieve high densities, transit-oriented development, high modal share for walk and cycle and low levels of car ownership and use. The consequences of urban sprawl are financially ruinous. Sheehan has summarised some work in this area: “A number of studies in the US have quantified the extra infrastructure costs required by unfocussed development….if 25 million units of new housing in the US were to be accommodated between 2000-2025 in a more space efficient way, the nation would preserve more than 1.2 million hectares of land, require 3000 fewer miles of state roads and need 4.7 million fewer water and sewer “laterals.”
A Pattern Language, active transport: walking or cycling, car-free, carbon footprint, congestion charging, David Brooks, edge city, Edward Glaeser, Enrique Peñalosa, food miles, Frank Gehry, Guggenheim Bilbao, if you build it, they will come, intermodal, invisible hand, Jane Jacobs, meta analysis, meta-analysis, New Urbanism, peak oil, Ralph Waldo Emerson, Richard Florida, skinny streets, smart cities, Stewart Brand, the built environment, The Death and Life of Great American Cities, transit-oriented development, Upton Sinclair, urban planning, urban renewal, urban sprawl, walkable city, white flight, young professional, Zipcar
As celebrated on their website in the (stereotypically effeminate) voice of the fictional Biff Fantastic: Urban planners and metrosexuals agree that suburbs make you fat! With the Compactorizer, you’ll move out of boring and subtly racist suburban homes and into smallish apartments in high-density transit-oriented developments. Only the Compactorizer uses a patented planning doctrine to create noisy nights, random crimes, and panhandler harassment, triggering the high-stress and abnormal dietary patterns so important for rapid weight loss.18 As both an urban planner and a purported metrosexual, I can feel my credibility tanking here.
It is very possible that much of the new growth around DART stations would have happened elsewhere without it, which throws into question the system’s economic impact. However, it is likely that this development would have occurred at lower densities, and probably at greater distance from downtown. Some Texas scrubland was saved, and some gasoline, too. But there is no getting around the fact that all this new transit-oriented development has not increased the percentage of people taking transit. Even the biggest transit fan—me, perhaps?—would have a hard time considering the DART system anything but a failure. Which raises the question: What is Dallas doing wrong? For an answer, we turn to Yonah Freemark, the sagacious blogger behind The Transport Politic and probably the best-informed source on transit today.
The Gated City (Kindle Single) by Ryan Avent
big-box store, carbon footprint, deindustrialization, edge city, Edward Glaeser, income inequality, labor-force participation, low skilled workers, manufacturing employment, offshore financial centre, profit maximization, rent-seeking, Silicon Valley, Thorstein Veblen, transit-oriented development, Tyler Cowen: Great Stagnation
Intense development pressure due to soaring real estate costs, and the determination in London to keep the financial center competitive, no doubt encouraged a more tolerant attitude to height in the City and its immediate environs. But perhaps Canary Wharf also inured Londoners to the spectacle of clusters of tall buildings, easing the path for developers of land in the City itself. The second flavor of the strategy is one that’s been deployed more frequently in America: transit-oriented development (TOD). Rather than focus on just one or a few alternative central cities, TOD uses new transit lines to create opportunities for increased density in places previously oriented around automobiles. While residential areas can often be difficult places to pursue new density, the common (and bleaker) elements of urban and semi-urban landscapes, like old industrial land and strip malls, are more fertile ground for redevelopment.
Aerotropolis by John D. Kasarda, Greg Lindsay
3D printing, air freight, airline deregulation, airport security, Akira Okazaki, Asian financial crisis, back-to-the-land, barriers to entry, Berlin Wall, big-box store, blood diamonds, borderless world, British Empire, call centre, carbon footprint, Clayton Christensen, cleantech, cognitive dissonance, conceptual framework, credit crunch, David Brooks, David Ricardo: comparative advantage, Deng Xiaoping, deskilling, edge city, Edward Glaeser, failed state, food miles, Ford paid five dollars a day, Frank Gehry, fudge factor, full employment, future of work, Geoffrey West, Santa Fe Institute, George Gilder, global supply chain, global village, gravity well, Haber-Bosch Process, Hernando de Soto, hive mind, if you build it, they will come, illegal immigration, inflight wifi, interchangeable parts, intermodal, invention of the telephone, inventory management, invisible hand, Jane Jacobs, Jeff Bezos, Kangaroo Route, knowledge worker, kremlinology, labour mobility, Marshall McLuhan, Masdar, McMansion, megacity, Menlo Park, microcredit, Network effects, New Economic Geography, new economy, New Urbanism, oil shale / tar sands, oil shock, peak oil, Peter Thiel, pets.com, pink-collar, pre–internet, RFID, Richard Florida, Ronald Coase, Ronald Reagan, savings glut, Seaside, Florida, Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, Skype, smart cities, smart grid, South China Sea, South Sea Bubble, sovereign wealth fund, special economic zone, spice trade, spinning jenny, stem cell, Steve Jobs, supply-chain management, sustainable-tourism, telepresence, the built environment, The Chicago School, The Death and Life of Great American Cities, The Nature of the Firm, thinkpad, Thomas L Friedman, Thomas Malthus, Tony Hsieh, trade route, transcontinental railway, transit-oriented development, traveling salesman, trickle-down economics, upwardly mobile, urban planning, urban renewal, urban sprawl, walkable city, white flight, Yogi Berra
We want to live near airports, even if we don’t care to admit it—even to ourselves. Stapleton, Reunion, and the Mesas offer compelling evidence. We flock to them because that’s where the jobs are, next door or at the end of a flight. So how do we build a better aerotropolis than the ones we have now? One of the best tools in our kit is something called “transit oriented development,” an idea coined by Peter Calthorpe the same year he helped found the Congress for the New Urbanism. The name says it all: neighborhoods and cities built along the splines of public transit. Sometimes that can be buses, but typically it means trains. Denver is doing exactly that with its $7 billion investment in FasTracks, which will have fifty-seven stations dotting 119 miles of track when it’s finished.
Strung along a thirty-mile stretch of highway are three universities—Michigan, Eastern Michigan, and Wayne State— with one hundred thousand students among them. The first already spends nearly $1 billion a year on basic research and is busy hiring two thousand scientists to fill a new campus furnished and then abandoned by Pfizer. Plans are afoot to connect all three to the airport via commuter trains and light rail, sowing the seeds for transit-oriented developments. In between are rivers, lakes, and hiking trails—not a bad foundation for your own private Portland. But the question then becomes what to build … and where to build it. And by whom, to what ends? The site is a jumble of jurisdictions. The airports are under Ficano’s thumb, but everyone else is free to thumb his or her nose at him.
They operate on the principle that you can solve any conundrum if enough deadline pressure, caffeine, and sleep deprivation are applied. The participants were divided into three teams, each charged with plotting the entire site. One was led by Douglas Kelbaugh, the dean and former partner of Peter Calthorpe, with whom he’d invented transit-oriented development. He brought a battery of faculty, students, architects, and urban planners to assist him, including two of the consultants later tasked with drafting the actual master plan. And then there was Kasarda, who flew in to brief them all on what exactly it was they were building. They left and got to work.
Happy City: Transforming Our Lives Through Urban Design by Charles Montgomery
2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, agricultural Revolution, American Society of Civil Engineers: Report Card, Bernie Madoff, British Empire, Buckminster Fuller, car-free, carbon footprint, centre right, City Beautiful movement, clean water, congestion charging, correlation does not imply causation, East Village, edge city, energy security, Enrique Peñalosa, experimental subject, Frank Gehry, Google Earth, happiness index / gross national happiness, Home mortgage interest deduction, housing crisis, income inequality, income per capita, invisible hand, Jane Jacobs, license plate recognition, McMansion, means of production, megacity, Menlo Park, meta analysis, meta-analysis, mortgage tax deduction, New Urbanism, peak oil, Ponzi scheme, rent control, ride hailing / ride sharing, risk tolerance, science of happiness, Seaside, Florida, Silicon Valley, the built environment, The Death and Life of Great American Cities, the High Line, The Spirit Level, The Wealth of Nations by Adam Smith, trade route, transit-oriented development, upwardly mobile, urban planning, urban sprawl, wage slave, white flight, World Values Survey, Zipcar
gas prices doubled: Cortright, Joe, “Driven to the Brink: How the Gas Price Spike Popped the Housing Bubble and Devalued the Suburbs,” white paper, CEOs for Cities, 2008. At the time: “Welcome to Stockton: Foreclosure Capital USA,” China Daily, September 17, 2007, www.chinadaily.com.cn/world/2007-09/17/content_6111808.htm (accessed January 7, 2011). spends twice as much: Center for Transit-Oriented Development and Center for Neighborhood Technology, “The Affordability Index: A New Tool for Measuring the True Affordability of a Housing Choice,” Washington, DC: Brookings Institution, 2006; Center for Neighborhood Technology, “Penny Wise Pound Fuelish: New Measures of Housing + Transportation Affordability,” Chicago, 2010.
segregated by income class: Fry, Richard, and Paul Taylor, “The Rise of Residential Segregation by Income,” Pew Research Center, August 1, 2012. www.pewsocialtrends.org/2012/08/01/the-rise-of-residential-segregation-by-income (accessed October 14, 2012). Seattle’s Rainier Valley: Greenwich, Howard, and Margaret Wykowski, “Transit Oriented Development That’s Healthy, Green & Just,” Puget Sound Sage, May 14, 2012. www.pugetsoundsage.org//downloads/TOD%20that%20is%20Healthy,%20Green%20and%20Just.pdf (accessed October 11, 2012). lightning-fast gentrification: Moss, Jeremiah, “Disney World on the Hudson,” New York Times, August 21, 2012, A25.
Hot: Living Through the Next Fifty Years on Earth by Mark Hertsgaard
Berlin Wall, business continuity plan, carbon footprint, clean water, Climategate, Climatic Research Unit, corporate governance, cuban missile crisis, decarbonisation, defense in depth, en.wikipedia.org, Fall of the Berlin Wall, food miles, megacity, Mikhail Gorbachev, mutually assured destruction, peak oil, Port of Oakland, Ronald Reagan, Silicon Valley, smart grid, South China Sea, the built environment, transatlantic slave trade, transatlantic slave trade, transit-oriented development, University of East Anglia, urban planning
"Entry-level workers couldn't afford to live within thirty miles of the place, so they were all driving their junkers every day, spewing pollution." The Village at Overlake Station was the first transit-oriented development of its kind in the United States, said Norman. Completed in 2002, it added 308 affordable housing units near the Overlake bus transit center. "We now average 0.6 cars per household in that neighborhood, compared to 1.2 cars in similar neighborhoods," said Norman. "That's what transit-oriented development can do to fight climate change." "The Future Ain't What It Used to Be" The first time Ron Sims had tried to rally his hometown against global warming, they laughed at him.
Suburban Nation by Andres Duany, Elizabeth Plater-Zyberk, Jeff Speck
A Pattern Language, big-box store, car-free, Celebration, Florida, City Beautiful movement, desegregation, edge city, Frank Gehry, housing crisis, if you build it, they will come, income inequality, intermodal, Jane Jacobs, jitney, McMansion, New Urbanism, place-making, price mechanism, profit motive, Ralph Nader, Seaside, Florida, Silicon Valley, skinny streets, the built environment, The Death and Life of Great American Cities, The Great Good Place, transit-oriented development, urban planning, urban renewal, urban sprawl, white flight, working poor, Works Progress Administration
The code is broken down into two sections: Urban Infill, which addresses existing neighborhoods, and Greenfield Development, which deals with the creation of new neighborhoods from scratch. In both cases, new growth is modeled on the old patterns that people cherish. The TND is not the only instrument of its kind. Other groundbreaking zoning ordinances include Sacramento County’s Transit Oriented Development Ordinance, Pasadena’s City of Gardens Code, and Loudon County, Virginia’s Rural Village Ordinance. Municipalities that are currently making use of customized TND-style ordinances include Miami-Dade County, Orlando, Columbus, Santa Fe, and Austin. These ordinances demonstrate the TND’s adaptability to a wide range of local conditions.
2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, Affordable Care Act / Obamacare, Airbnb, American Society of Civil Engineers: Report Card, asset-backed security, Bakken shale, banking crisis, BRICs, British Empire, business process, business process outsourcing, call centre, Carmen Reinhart, clean water, collapse of Lehman Brothers, collateralized debt obligation, credit crunch, currency manipulation / currency intervention, demand response, Donald Trump, Frederick Winslow Taylor, high net worth, housing crisis, hydraulic fracturing, If something cannot go on forever, it will stop, illegal immigration, index fund, intermodal, inventory management, Kenneth Rogoff, labor-force participation, LNG terminal, low skilled workers, Mark Zuckerberg, Martin Wolf, Maui Hawaii, McMansion, mortgage debt, Network effects, new economy, obamacare, oil shale / tar sands, oil shock, peak oil, Plutocrats, plutocrats, price stability, quantitative easing, race to the bottom, reserve currency, reshoring, Richard Florida, rising living standards, risk tolerance, risk/return, Silicon Valley, Silicon Valley startup, six sigma, Skype, sovereign wealth fund, Steve Jobs, superstar cities, the High Line, transit-oriented development, Wall-E, Yogi Berra, Zipcar
Seattle’s light-rail offering, which debuted in July 2009, attracts about 25,000 daily users. When Norfolk’s small light-rail system opened in September 2011, officials thought it would attract about 2,900 riders per day, but in its opening months the Tide attracted about 5,000 daily riders. In these and other cities construction of light rail has spurred transit-oriented development and generally boosted the local interest in and appetite for expansion. Again, the payoff isn’t in the jobs created to build the rail or to set up express bus systems. Rather, it’s in the rent that landlords will get, the ability to attract more workers for employers, and the benefit to homeowners.