Joint development on land owned by transit and other agencies overview
Joint developmentA project where private developers and public transit agencies work under a partnership. Revenue- or cost-sharing partnership means both parties split the revenue or cost of the project, and co-development partnership refers to a non-financial arrangement where the parties coordinate their projects. enables public transit agencies to sell or lease land around existing or planned public transportation stations to private developers for residential and other uses, including the development of affordable housing. The inclusion of an affordable housing component in joint development located in transit-adjacent areas can help to ensure equitable access to public transportation for households at all income levels, as well as mitigate gentrification or displacement concerns that may arise when new transit systems and stations are planned and constructed.
School districts are another potential partner. Particularly in areas where housing costs are too high for teachers to afford, school districts may make land available for new development that includes affordable housing for district personnel. Other potential partners with land that could be used to develop affordable housing include hospitals, parking authorities, and police and fire departments. Housing departments can work in conjunction with other local or state agencies to identify opportunities to develop affordable housing, encourage partnerships, and provide technical assistance in developing joint development guidelines and securing financing.
Local transit agency, school district, or other public agency in partnership with the department of housing and community development and/or public housing agency.