Depends on how you measure.I'd still argue that the property value upgrade at say, Union, is an order of magnitude higher than that of North Point.
Well, if Somerville would accept the same slab-with-bus-shelter stations like the C & D Branches in Newton & Brookline have "suffered" for those 50-80 years (and is world-standard and national-standard in LRT), we wouldn't be having this conversation. (Medford is along for the ride as far as stations go. I don't see "my" Medford's political class caring how fancy stations are so long as they are workmanlike and ADA accessible)But much of GLX services established communities who have been under served by transit for nearly a century. Instead of taxing them, we should be taxing the folks in Brookline and Newton who have had all that transit benefit for 50-80 years, and never paid extra for it.
Well, if Somerville would accept the same slab-with-bus-shelter stations like the C & D Branches in Newton & Brookline have "suffered" for those 50-80 years (and is world-standard and national-standard in LRT), we wouldn't be having this conversation. (Medford is along for the ride as far as stations go. I don't see "my" Medford's political class caring how fancy stations are so long as they are workmanlike and ADA accessible)
In fact, how 'bout the state pay for ADA-slab-with-bus-shelter (like the whole rest of the US gets in light rail) and then let Somerville and Medford (and Tufts and US2) decide how/if they want to fund an upgrade of $50m to headhouses at each particular location? (Gilman, Lowell, Ball, Tufts Hillside, Union, Brickbottom). I count $300m that the State doesn't "owe" anybody (and that was never anticipated in the CLF deal or as recently as 2004, when GLX was pegged at $750m)
And frankly, the Community Path would be an obvious bargain way of dealing with the grade-changes at the station(s) and the state would still build that for free.
Cambridge is proposing to levy a new fee on real estate developers in Kendall Square to help pay for public transit improvements, a model that officials said could be adopted by the MBTA for the Green Line extension and other projects.
A new transportation enhancement fund could be used to pay for upgrades to the Red Line’s Kendall/MIT Station or fund enhanced bus service, said Jason Zogg, a program manager at the Cambridge Redevelopment Authority, which is expected to release a draft of its proposal this month.
The fees would be collected in the Kendall Square urban renewal zone, which is roughly bounded by Main, Binney, and Third streets and Galileo Way.
Cambridge is currently negotiating with Boston Properties, which has a request before the city to amend zoning in the district to permit an additional 1 million square feet of development.
What about cities / state collecting taxes from developers who (might) benefit from future transit projects?
I think it's a dumb idea, but what do other people think?
Cambridge eyes new fees to help fund T projects
By Tim Logan, Boston Globe
It would only work in specific areas that developers are dying to build in; Kendall being one of a few spots. Otherwise the municipality has no leverage...
What about cities / state collecting taxes from developers who (might) benefit from future transit projects?
I think it's a dumb idea, but what do other people think?
Cambridge eyes new fees to help fund T projects
By Tim Logan, Boston Globe
Bloomberg wanted the 7 train so badly that rather than wait for the MTA to drum up the money (he’d still be waiting), the administration said the city itself would foot the bill. The funding structure they devised, known as “tax incremental financing,” was an innovative one—at least by the standards of U.S. transportation funding. The city issued bonds for the construction to be repaid by future tax revenue from developers whose property value would soar once the extension was complete.
On paper, at least, the plan was a great example of what’s called “value capture”—leveraging real estate gains for the good of public transit. In practice, of course, there were hiccups. Officials later ended up giving Hudson Yards developers a tax subsidy, which Columbia University planning scholar David King called “exactly the opposite of capturing increased property values.”
At Assembly, of the cost of the $57m Heavy Rail station, 25% came from FRIT (and 0% came from Somerville), so my complaint isn't only that the landowners (whether developers or surface-lot operators) profit from State-created propinquity, but also that the municipalities have come to believe that their only contribution is "planning" but not funding.
....Boston stands to reap hundreds of millions from appreciation all along the Blue Line once Maverick and Suffolk Downs are directly connected to MGH and get great access to Kendall/Central/Harvard. Some $m of co-pay is clearly in Boston's interest if it is what tips Red-Blue from "must-build" to "will-build" When I'm Military Governor of this prefecture, we'll create a TIF district within 1/4 mile of every Blue Line station and all along the Maverick/East Boston waterfront and the first $Xm of bonding will be used to fund the Red-Blue connector, and then we look at station upgrades in the Suffolk Downs area to promote TOD there. And Medford will have its arm twisted to get an infill stop on the Orange Line between Wellington and Malden Ctr and real TOD at River's Edge.
Cambridge and the owners of Northpoint should pay more for Lechmere. It is in their interest to see it built sooner.
Somerville, if it had to think in terms of co-pay, would not have been so eager to pacify Brickbottom and preserve its, ahem, artsy-craftsy-industrial complex. It'd have TOD'd it instead.
I-495 is too broad a boundary 128 makes more sense as it is more urban inside and there is a pretty clear difference between the more exurban development between 128 and 495 and the inner suburban/ urban development inside 128. And that area would still have close to 3 million people and makes more sense as it has been proposed before. Otherwise all you did was make the entire metro area one single entity which would still give suburban areas too much power which is what Arlington was trying to avoid.
I-495 is too broad a boundary 128 makes more sense as it is more urban inside and there is a pretty clear difference between the more exurban development between 128 and 495 and the inner suburban/ urban development inside 128. And that area would still have close to 3 million people and makes more sense as it has been proposed before. Otherwise all you did was make the entire metro area one single entity which would still give suburban areas too much power which is what Arlington was trying to avoid.