What is Transit-Oriented Development?
Transit-oriented development (TOD) is an approach to land use planning and development which promotes the efficient use of land and transportation infrastructure. TODs are generally higher density developments comprising a mix of residential, office, commercial, and civic uses in a pedestrian friendly environment within walking distance of a transit center.
In 2008 the Maryland legislature adopted a formal definition for TOD as "a dense, mixed-use, deliberately planned development within a half-mile of transit stations that is designed to increase transit ridership".
What is Joint Development?
Joint development is a strategy in which the State or other transit authority may dispose of publicly owned land or real estate for private TOD development to occur on or adjacent to a transit facility. Joint development leverages public land with private investment and development expertise to create transit oriented development. Typically a partnership between the State, a developer and the local jurisdiction is formulated to accomplish a successful joint development project.
The objectives of joint development are designed to:
- Promote the devlopment of mixed-use communities in close proximity to transit facilities.
- Capture and enhance the value of State owned land and assets.
- Create opportunities for economic development.
- Reduce automobile trips and traffic congestion by promoting walkable, bikeable communities.