2021 Global Summit on Transit Oriented Development is going to be held on May 22, 2021 (Time Zone London, UK). Transit Oriented Development has emerged as a response to rising urban population and congestion in traffic. It is the fast growing trend in making healthier lifestyle and higher quality of life with better places to live, work and play. A TOD relies on the principles of mixed uses, walk, shift, transit, densify, cycle, connect & compact that centered on high quality train systems. This makes it possible to live a lower-stress life without completely depending on a car for mobility and survival. Cities across the world are competing to confront with rapid uncontrolled urbanization. As per recent reports by United Nations, 54% of the world’s population lives in urban areas, a number that is expected to increase to 66% by 2050. This substantial increase in urban population requires reshaping the real estate landscape and also to meet the high demand quality urbanisation by rail systems across the globe through Transit-oriented development (TOD).
2021 Global summit on Transit Oriented Development is the platform to find the key ingredient to the big question of what it takes to get your TOD right and to unravel best solutions by understanding the secret mantras in achieving a world class TOD!
Tracks
1. Revitalisation
The goal of neighborhood revitalization and renewal strategies which can inadvertently results rise in rents and house values, residential or cultural displacement, and the widening of disparities in neighborhood places, such as parks
2. Traffic Congestion
TOD is proved to be the best planning tool for reducing traffic congestion, private mode share, car ownership and parking, and also promote sustainable transport. Tod's role as a congestion relief strategy largely lies in the concentrated development that shortens average trip length Traffic conditions in the TOD area may actually worsen due to the TOD-based concentration of people and jobs. Promoting walking or biking to lower the use of local driving actually important for successful TOD
3. Urbanization
Urbanization is influencing development of any nation adversely. Rapid Urbanization leading to severe problems such as urban poverty, environmental degradation, traffic congestion, etc. A sustainable approach is required urgently to reduce these problems and also ensure proper growth of the city.
4. Creating Healthier Lifestyle
Creating healthier lives like observing vast Health improvements, including lower obesity rates (3x) among adults who walk, bike or take transit. Pedestrian friendly elements create vibrant and active spaces which lead to health environmental and economic benefits
5. Mixed Land Use Developments
Mixed land uses and retail opportunities play a key role in transit-oriented development. Transit Oriented Development typically takes the form of compact, mixed land-use development with high-quality pedestrian environments that is concentrated around rail transit nodes.
6. Reducing Carbon Foot Print
The emergence of reducing carbon footprint and providing a sustainable development is getting more important each day. Urban planning techniques can be a core planning factor of Low carbon & Green City by linking public transport and land uses centered on railway station areas. Urban developing methods inducing high density developments result in lowering the transportation emission up to 78% in communities near transit.
7. Economy
The economy is definitely influenced with transit Oriented Development by promoting new ideas and tapping into profitable market segments. Also by putting together commercial and recreational development in promoting economic value as well as enhancing community development, the retail sales can be higher up to 88% in transit and pedestrian-friendly areas.
8. Greater Mobility
Transit Oriented Development is being promoted as a sustainable growth management strategy. The concept of Bus Rapid Transit supporting high quality transit oriented development by promoting economic development with its cost effective and flexible rapid transit mode.
9. Mixed Use Components
Mixed use of components is a compact development that connects people to jobs and commerce, and support transit infrastructure has a vita role for better vibrant development. It also reduce conflicts between auto oriented and pedestrian friendly uses and activities.
10. Multi modal Transportation
Cities throughout the world have taken different approaches to developing multi-modal networks that incorporate traditional forms of mass transit like subways and buses with newer innovations like ride-sourcing from companies. It involves two or more than two different modes of transportation like bus, metro, car, tram, etc.; either government or privately operated.
11. Integrated Smart City
The concept of smart city is built on three fundamental components- people, infrastructure and technology. By planning for TOD, Smart cities can ensure most optimal use of public infrastructure, to control sprawl development, to reduce dependence on cars and pollution, make cities liveable.
12. Innovative PPP
Implementing innovative PPP for TOD it’s not a dream anymore but a real opportunity for the developer to build a new transportation hub within the city. The delivery of the project depends on few factors like project preparation, financial planning, risk planning etc. If the tools to convey the TOD project are properly determined, there shouldn't be any problem with its on-time delivery.
13. Transit Ridership
Transit Oriented Development incorporates designed residential and industrial Centers providing proper accessibility to Transit and Non-motorized transportation and inspiring Transit Ridership. Ridership dispersion in time was positively influenced by sidewalk length, negatively affected by retail and service floor-space area, and insignificantly influenced by density.
14. Real Estate Market
TOD changes the dynamics of commercial real estate to a great extent. There is a wide range of impact on land values due to increased transit corridors (500-800 meters) near to transit stations. Urban land resources available for Transit Oriented Development are to the maximum, thereby making enough space available to meet the growing demand for affordable housing is a huge challenge. The property values can be up to 40% higher for homes near rapid transit, some special facilities such as Park and Ride may also result in higher interest of the development due to maximized employment opportunities, reduced commuting times and costs, etc.
15. Gentrification
Gentrification that results from Transit Oriented Development can be measured by changes in household income, property values, new housing construction, and educational attainment around a transit center. This commonly occurs due to Low-income families who are more likely to remain in places that are close to transit stations, when government imposes affordability requirements on TOD. So, before TOD begins, local governments can deploy policies such as inclusionary zoning, mixed-use housing development, and property-tax relief to maintain land affordability and incentivize affordable housing development