Public transit can increase the development potential of real estate near high-capacity transit lines and stations, and thereby increase property values. This “transit premium” can range from as little as a few percent increase to over 150 percent. The amount depends largely on the local regulatory environment, regional connections, and national and regional economics. Achieving the potential for this increased value of property also generally requires building more complex, mixed-use projects at higher densities, which entails higher costs of development and higher risks.
As America’s transportation system runs low on money, one way to bridge the gap between needs and available funds is through public-private partnerships (PPPs). PPPs may be initiated to construct new facilities, to operate and maintain existing ones, or both. On the positive side of the ledger, they may reduce project costs and give government improved access to innovation and technology. But on the other hand the public can grow dissatisfied when the control of public assets rests with private companies and those companies set and collect tolls and fees.
On Monday, June 9, 2014, The House of Representatives passed H.R. 3211, "The Mortgage Choice Act" which addresses discrimination in the calculation of fees and points under the Ability to Repay/Qualified Mortgage (QM) rule.
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.