In years past, transportation planners would look at projections for population growth and land use changes in their communities and use that information to estimate the future demand for roads. Then they’d draw up construction plans to meet that demand.
Cities looking to lessen congestion on their highways are increasingly considering high-occupancy toll (HOT) lanes as a way to solve traffic issues, reduce air pollution, and increase transportation budgets. HOT lanes are free for carpoolers, but single-occupancy vehicles must pay a toll. They are already in place in southern California, Minnesota and Houston, and under construction in South Florida.
“Complete streets” refers to the concept that roads should meet everyone’s needs, not just motorists but also walkers, bicycle riders, and bus riders. A growing number of communities are using complete streets policies to reduce accidents, get people more physically active, and promote walkable neighborhoods, which have held their property values during the current downturn. Complete streets policies will increase in importance as a greater proportion of Americans reach old age and are forced to give up driving.
How far does an agent's fiduciary duty extend when both the buyer's and seller's rep are licensed under the same broker? NAR's Legal Affairs staff summarizes a California court's decision on the topic.
At President Obama’s request, Congress has appropriated more than $10 billion for the construction of new intercity rail lines. Economic studies suggest that these new trains could increase real estate values. California is the most likely state to receive federal funds, to help complete a high-speed rail corridor linking Sacramento to San Diego. Florida may receive funds for a route linking Tam.pa and Orlando. Texas, Virginia, Wisconsin, North Carolina, and Ohio are other possible grantees.
Responding to Americans’ changing preferences, developers are helping transform the way cities grow with projects huddled near transit hubs. Such projects are increasingly popular, and are likely to become more so as concerns about climate change and gas prices continue to rise. They also have drawn support from the federal government. But in many ways they can be more challenging than traditional developments on virgin land.