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From page 52... ... Appendix C Survey of Private Sector Companies i TABLE OF CONTENTS 1.0 Introduction and Overview …………………………………………………………………………………….……………………C-1 2.0 The Joint Development Practice: Who's Doing What C-3 2.1 Extent and Variety of JD Activity ..................................................................................................... C-4 2.2 Perception of the TOD/JD Market: Attractors, Hurdles, Requirements (Questions 1-3) Read the entire page →
From page 53... ... Appendix C Survey of Private Sector Companies C-1 SURVEY OF PRIVATE SECTOR COMPANIES 1.0 Introduction and Overview The research team for TCRP Research Report 224: A Guide to Joint Development for Public Transportation Agencies ("the Guide") undertook a targeted stakeholder outreach program. Read the entire page →
From page 54... ... Appendix C Survey of Private Sector Companies C-2 Table C-1: Summary of Private Sector Entities Interviewed Entity Base; Primary Region TOD/JD Comments (Year Founded) Interviewed (2019 exc. Read the entire page →
From page 55... ... Appendix C Survey of Private Sector Companies C-3 provided in Appendix A of this memorandum. The dataset represented by the completed questionnaires consists of over 300 responses, counting answers to multi-part questions.39 The interview process also established relationships that will enable the research team to follow up later in the project, when the Guide is being developed. Read the entire page →
From page 56... ... Appendix C Survey of Private Sector Companies C-4 2.1 Extent and Variety of JD Activity Table C-3 (next page) lists the joint development projects identified by interviewees in response to Question 9 and/or described on their respective company websites. Read the entire page →
From page 57... ... Appendix C Survey of Private Sector Companies C-5 Table C-3: Summary of JD Activity (Question 9) Entity Website JD or Related Activity 43 Primarily Residential Bridge Housing Corporation https://bridgehousing.com/ • BART JD at MacArthur Park Station, Oakland * Read the entire page →
From page 58... ... Appendix C Survey of Private Sector Companies C-6 • A station-centered value capture district that directly funds the catalytic transit facility might be considered a form of joint development. The Avery (Related California) Read the entire page →
From page 59... ... Appendix C Survey of Private Sector Companies C-7 box or local convenience formats "has to be great retail, integrated into the ground plain of a well-known mixed-use destination"; for them, such opportunities are associated with TOD. Read the entire page →
From page 60... ... Appendix C Survey of Private Sector Companies C-8 identified as a particular hurdle to JD the difficulty some transit agencies have in approaching transactions this way.) For affordable housing developers, as several pointed out, joint development creates an opportunity "to access sites you'd never be able to afford otherwise." This observation assumes that agencies are prepared to discount their land values, explicitly or implicitly, to facilitate affordable housing (as some but not all are in fact prepared to do) Read the entire page →
From page 61... ... Appendix C Survey of Private Sector Companies C-9 the preceding pages as market attractors. The issues outlined here can thus be understood as challenges that experienced JD participants have had to overcome, and that potential new market entrants may decide to avoid. Read the entire page →
From page 62... ... Appendix C Survey of Private Sector Companies C-10 where condominiums are to be built; and a belief that transit agency staffs are more likely to seek unrealistic terms in the downstream years of a lease than in a sale. Ingredients for success. Read the entire page →
From page 63... ... Appendix C Survey of Private Sector Companies C-11 2.3 Community Response (Question 8) The interviewees were asked whether, in their own TOD/JD experience, community groups had raised objections around common TOD issues, such as density, affordable housing, spillover parking, and, if so, whether these objections wound up impacting the project outcome. Read the entire page →
From page 64... ... Appendix C Survey of Private Sector Companies C-12 The responses were roughly split between those who see zoning as "about right" or "changing in the right direction" and those who see parking requirements as still generally too high. Several developers who work in multiple regions and jurisdictions said that there is not one generally applicable answer. Read the entire page →
From page 65... ... Appendix C Survey of Private Sector Companies C-13 As for public subsidies, a couple of developers reported projects in which the affordable units -- representing 10% to 30% of the total count -- did not receive any assistance and had to be crosssubsidized entirely within the pro forma of the development. In most of the cases reported here, however, one or more incentive or subsidy programs were available. Read the entire page →
From page 66... ... Appendix C Survey of Private Sector Companies C-14 4.0 Joint Development Implementation The final topical grouping addresses implementation questions specific to joint development. These include, from the private sector perspective: the transit agency's overall capacity and outlook; the developer selection process; the management of zoning and entitlement; and the issues associated with negotiating business terms and land value. Read the entire page →
From page 67... ... Appendix C Survey of Private Sector Companies C-15 • recognize the increased farebox revenue attributable to joint development as part of the agency's monetary return (rather than focusing on the lease or sale proceeds only) ;53 • work with other land-owners to expand the footprint of JD sites. Read the entire page →
From page 68... ... Appendix C Survey of Private Sector Companies C-16 Compared to a one-stage RFQ, a one-stage RFP allows the key aspects of the proposal to be known and evaluated before selection. • Three other respondents said they have no blanket preference -- that what matters is not the format per se but sufficient clarity for the bidders to feel confident that their proposals are consistent with agency priorities and they are not wasting time and resources on an off-target approach. Read the entire page →
From page 69... ... Appendix C Survey of Private Sector Companies C-17 Respondents were asked, for their JD projects, who had the lead role in getting the project permitted and whether that division of labor had proven effective and appropriate (Question 12b) Read the entire page →
From page 70... ... Appendix C Survey of Private Sector Companies C-18 assigned to the developer, changes in what the transit agency wants, and community pushback against the originally planned density. • Some developers (including the two affordable housing specialists who reported JD land prices misaligned with affordability requirements) Read the entire page →

From page 52...

... Appendix C Survey of Private Sector Companies i TABLE OF CONTENTS 1.0 Introduction and Overview …………………………………………………………………………………….……………………C-1 2.0 The Joint Development Practice: Who's Doing What C-3 2.1 Extent and Variety of JD Activity ..................................................................................................... C-4 2.2 Perception of the TOD/JD Market: Attractors, Hurdles, Requirements (Questions 1-3)