What is Equitable Transit-Oriented Development?
For the purposes of the Equitable Transit-Oriented Development Accelerator Fund, equitable TOD is defined as follows:
Within City of Boston:
The Fund will support projects that are within 0.25 miles of commuter rail stations, subway stations, and Bus Rapid Transit (BRT) stops.
Outside City of Boston/Rest of Massachusetts:
The Fund will support projects that are within 0.5 miles of commuter rail stations, subway stations, ferry terminals, Bus Rapid Transit (BRT) stops, Regional Transportation Authority (RTA) intermodal station, or bus stations on key transit routes.
For all project locations:
All projects, and particularly those greater than 0.25 miles from commuter rail and subway stations need to demonstrate clearly how they are connected and oriented to transit.
All projects need to be consistent with the Commonwealth's Sustainable Development Principles, particularly those outlined in the Additional Criteria below.
Projects near commuter rail stations need to be in a location with services and amenities (retail or commercial, such as supermarkets and convenience stores, or municipal buildings or services), or have connections via close transit (i.e. buses, circulator buses) to town centers, services or amenities.
- All projects need to demonstrate "connectivity to transit." In addition, the Fund in underwriting loans will seek to support projects that are intentional in their transit-accessible location and plan to utilize the location to encourage transit use. Potential borrowers will need to describe plans for a pedestrian and bike friendly environment, connectivity to adjacent services and the overall neighborhood, and how the project connects to transit, which will be evaluated by the Fund Manager.
- Parking and Density. Because parking and density requirements vary from municipality to municipality, it is hard to provide a specific numeric goal or requirement. However, ideal TOD projects will provide less parking than non-TOD projects, and will have density higher than the surrounding neighborhood context. All projects must have a density of at least 8 units/acre for multifamily housing developments and are anticipated to have a significantly higher density, Applicants will be asked to project parking to be provided, and project density (in dwelling units/acre) of the proposed development compared to the density of the surrounding neighborhood.
- Smart growth features and green design. Project applicants will need to describe their plans for green and sustainable design and construction (including bike storage, Zipcar parking, etc.) and other ways their projects demonstrate consistency with the Commonwealth’s policies regarding greenhouse gas reduction through the Global Warming Solutions Act and Green DOT initiative.