Thursday, March 19, 2009

Great quote on Transit Oriented Development

It has been a tough couple of weeks in Olympia in regards to Transit Oriented Development. That said, here is a great quote from Urban Land Institute that I stumbled across on the Smart Growth America Blog. Take a look at the post here.

From the Urban Land Institute's "Emerging Trends in Real Estate" report in 2007:

“Energy costs add fuel to the fire—people want greater convenience in their time-constrained lives. Far-flung greenfield homes may cost less, but filling the gas tank burns holes in wallets. Both empty nesters and their young adult offspring gravitate to live in more exciting and sophisticated 24-hour places—whether urban or suburban—with pedestrian-accessible retail, restaurants, parks, supermarkets, and offices. Transit-oriented development at subway or light-rail stations almost cannot miss.” (ULI 2006, p. 14)

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