20220119-003a: Equitable Transit-Oriented Development Presentation — original pdf

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Equitable Transit-Oriented Development (ETOD) Environmental Commission Capital Metro & City of Austin Housing and Planning 6:00 p.m. Wednesday, January 19 Today 2 How We Define ETOD | Challenges of Traditional TOD While Project Connect and TOD investments will generate significant benefits for Austin, they may exacerbate current displacement trends without concurrent efforts to ensure equitable growth. Traditional TOD Returns Traditional TOD Externalities • Transit investments connect residents & businesses to jobs and housing. • TOD attracts private investment in walkable, mixed-use developments. • Rent growth displaces residents that would benefit most from transit. • Rising rents & declining customer bases drive out local businesses. Project Connect | A Generational Opportunity CHALLENGES • Recent population growth has strained city services and infrastructure. • Black and Latinx household incomes have not kept pace despite economic growth. • Rapid housing price growth can push residents and businesses out, which transit may accelerate. 36,000 units housing supply gap for very low- income households 9% & 14% decreases in Black and Latinx Household incomes between 1980 and 2016 $300 Million Will be spent over 13 years in anti-displacement efforts. 4 OPPORTUNITIES • The investment in Project Connect will generate growth in jobs and housing to help reverse unequal outcomes. • Austin voters have approved $300M to fund displacement prevention efforts and another $250M to support affordable housing. How We Define ETOD | Transition from Traditional TOD TRANSITION TO EQUITABLE TOD EQUITABLE OUTCOMES “DO NO HARM” “DO NO HARM” TRADITIONAL TOD TRADITIONAL TOD Create new economic opportunities for residents of all income levels Mitigate displacement and negative externalities of new development Encourage market- supported development along transit corridors What makes ETOD Equitable? ETOD advocates that people of all incomes and backgrounds experience benefits from dense, mixed-use, pedestrian-oriented development near transit hubs. Creating & Preserving Mixed-Use Affordable Housing Supporting Small Businesses Creating New Job Opportunities Improving Public Spaces and Community Hubs 6 Austin’s ETOD Journey Corridor Bond, ASMP, and Project Connect ETOD Study ETOD PLAN Council-adopted ETOD Policy (Implementation) Established corridors of Establishes protypes for TOD Recommendations for Adopt ETOD plan for focus, mode split goals, that reflect Austin’s vision to prioritization, typography and procured funding for equitably share the benefits (Systemwide) high-capacity transit project delivery. of transit investments for and Land Development residents of all income levels, Code amendments to corridor-specific zoning. Could be expanded to other geographies in the and backgrounds. formally designate station future. WE ARE HERE areas and corridors. 2016 - 2020 2021-2022 2022-2023 2023-2024 7 This ETOD Study includes… 2021-2022 What this study WILL cover • Analysis of existing conditions in 13 Orange and Blue Line station areas • Matrix of ETOD policies and strategies • Station area vision plans for six Orange and Blue Line stations • ETOD Prioritization Tool for Orange and Blue Line stations 8 What this study WILL NOT cover • Zoning changes and development code amendments • Systemwide station area prioritization • Interim regulations and regulating plans for stations ETOD Corridor Study Area • 13 stations included in FTA grant to Capital Metro • Study area subject to change to include more Project Connect stations 9 ETOD Study Process ETOD Study Elements 11 Schedule 12 Share Your Feedback Apply by January 21 to be a Community Connector (or tell your friends and neighbors to apply)! www.surveymonkey.com/r/ETODwebsite (English) www.surveymonkey.com/r/VG5ZT9K (Spanish) Other ways to submit feedback: E-mail: etod@capmetro.org The meeting materials are available in English and Spanish online at: projectconnect.com/projects/etod 13