The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
LESS THAN 2 WEEKS UNTIL OUR FLAGSHIP CONFERENCE JOIN MORE THAN 550 ALREADY ATTENDING
JUST 2 WEEKS TO GO UNTIL URBANITY-25 550+ ALREADY ATTENDING
REGISTER NOWDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterSun 24 May 15

Cities To Be Transformed By Transit Oriented Developments: CBRE

o

A series of factors are converging to create global opportunities for Transit Oriented Developments that are city changing in scale according to a new major report from real estate agency CBRE.

Transit oriented development involves higher density, mixed use projects that are adjacent to, or integrated with, public transport hubs.

These projects are typically master-planned to create interfaces with transport services and have the ability to revitalise under-utilised precincts while bringing significant economic and social benefits to the wider community.

CBRE’s report examines a range of successful projects around the globe, including Perth City Link in Western Australia; the King’s Cross regeneration project in London; the Hong Kong Station redevelopment; Transbay Transit Centre in San Francisco and One North Precinct in Singapore.

The report highlights a range of factors that are creating opportunities for Transit Oriented Developments, including increasing rates of urbanisation, declining productivity linked to increased travel times, a growing government focus on public transport/decentralisation and greater sophistication in project and infrastructure funding.

Key findings include the critical role that government bodies play in successful TOD outcomes, the appeal these developments have for both residents and the business community, and the opportunities inherent in these types of projects.

ALSO SEE: Plans To Demolish Transit Centre To Accommodate BaT Tunnel Changes

CBRE Regional Director, Structured Transactions and Advisory Services, Wayne Redman, commented: “Transit Oriented Development projects have the capacity to address many of the challenges facing major cities in developed economies as a result of a rapid increase in urbanisation.""A successful project will achieve a substantial shift from private vehicles to public transport, while improving liveability and local employment opportunities.”
[urbanRelatedPost][/urbanRelatedPost]
CBRE’s report highlights that government vision and sponsorship is crucial in facilitating the projects given the role that public transport plays in addressing the long term sustainability of major cities – specifically issues such as traffic congestion, travel times, housing affordability and pollution.

“Businesses are requiring work environments which both attract and retain employees. The mixed-use nature of Transit Oriented Developments creates activated precincts with retail and entertainment services for employees," Mr Redman said.

"These locations also reduce business demand for car parking, which in turn reduces project construction costs and leasing costs for occupants,” Mr Redman said.

However, CBRE’s report highlight that incentives may also be required to attract tenants, as illustrated by the long term tax incentive schemes and rental subsidies offered in Singapore to facilitate the One North Precinct.

Mr Redman added: “While the projects are more complex than conventional brownfield or greenfield mixed-use projects, the benefits clearly warrant the effort in addressing the challenges.""Government facilitation is critical and can take a number of forms, including the provision and rezoning of appropriate sites, providing development certainty, directly funding transport infrastructure and coordinating issues with the relevant authorities. “The ability to attract business occupiers is another key element of a successful project, hence the critical need for linkages to public transport.

OtherRetailInfrastructureAustraliaArchitecturePlanningPlanningOther
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Kurraba Point 93 Kurraba Road TUD PLUS
Residential

Council Over Court: How HFO Won Rare North Sydney Approval

Vanessa Croll
7 Min
Exclusive

Why Sentinel is Betting Big on Olympic City Office Sector

Phil Bartsch
5 Min
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
View All >
Perth Glory Playbook: Ross Pelligra on Property and Sport
Community

Pelligra’s Playbook: Building Property, Sport Synergies

Renee McKeown
Kurraba Point 93 Kurraba Road TUD PLUS
Residential

Council Over Court: How HFO Won Rare North Sydney Approval

Vanessa Croll
NSW Housing Pattern Book HERO.
Policy

Housing Pattern Book Supercharges NSW Planning

Vanessa Croll
Zero to approved in 10 days: Developers are being offered a $1 introduction to the “largest reforms in NSW’s history”…
LATEST
Perth Glory Playbook: Ross Pelligra on Property and Sport
Community

Pelligra’s Playbook: Building Property, Sport Synergies

Renee McKeown
3 Min
Kurraba Point 93 Kurraba Road TUD PLUS
Residential

Council Over Court: How HFO Won Rare North Sydney Approval

Vanessa Croll
7 Min
NSW Housing Pattern Book HERO.
Policy

Housing Pattern Book Supercharges NSW Planning

Vanessa Croll
5 Min
Residential

Fortis Plots Placemaking Project at Hamilton

Taryn Paris
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/transit-oriented-developments