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NAIOP – MD/DC The Public Sector Impact on Real Estate in 2010 February 24, 2010. Andrew J. Scott Special Assistant to the Secretary for Economic Development Maryland Department of Transportation. Updates ICC Purple Line Corridor Cities Transitway Funding Transit Oriented Development.

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Naiop md dc the public sector impact on real estate in 2010 february 24 2010

NAIOP – MD/DCThe Public Sector Impact on Real Estate in 2010February 24, 2010

Andrew J. Scott

Special Assistant to the Secretary for Economic Development

Maryland Department of Transportation


Naiop md dc the public sector impact on real estate in 2010 february 24 2010

  • Updates

    • ICC

    • Purple Line

    • Corridor Cities Transitway

    • Funding

  • Transit Oriented Development


Naiop md dc the public sector impact on real estate in 2010 february 24 2010

68% Complete

54% Complete

29% Complete

3


Purple line
Purple Line

  • 16-mile east-west light rail line extending from Bethesda in to New Carrollton

  • Connects

    • 4 branches of the Metrorail system

    • 3 MARC commuter rail lines and Amtrak’s Northeast Corridor

    • local bus routes


Naiop md dc the public sector impact on real estate in 2010 february 24 2010

Connecting Places

Silver Spring

Fenton Village

Arliss/Long Branch

Takoma/Langley

Chevy Chase Lake

East Campus

UMD – Campus Ctr.

Riverdale Park

Bethesda

New Carrollton

Fenton Village

5


Naiop md dc the public sector impact on real estate in 2010 february 24 2010

  • Corridor Cities Transitway

  • Part of I-270 Multi-modal Corridor Study

  • 17 stations, 14 miles

  • Alternatives include Light Rail Transit (LRT), Bus Rapid Transit (BRT)

  • Gaithersburg West Sector Plan

    • “Science City” – Hopkins live/work center

  • Selection of Locally Preferred Alternative


Transportation funding
Transportation Funding

  • Economic downturn severely impacted the State’s transportation program

  • People buying fewer cars, driving less

    • Titling tax, gas tax

  • Deferrals of 20% of our capital program

    • Maintaining a $9.1 billion 6-year program


American recovery and reinvestment act

Maryland ARRA strategy

“Fix it first”

Smaller, quicker to implement projects

Accountability

Compete for discretionary $$$s

American Recovery and Reinvestment Act

  • Maryland ranked #1 in reporting spending

  • Met 50% deadline 3 months ahead of schedule


Transit oriented development
Transit Oriented Development

Concentrating jobs, housing, retail within walking distance to transit stations; creating vibrant communities.

  • TOD requires support of many actors: developers, local government, transit agencies, community

  • State aggressively supporting: Smart, Green & Growing


The state s interest in tod
The State’s interest in TOD

  • Critical component for transportation & sustainability

    • 1.1 million new residents projected by 2030

      • Will consume 650,000 acres of open space

      • Could be accommodated at Maryland’s transit stations

    • Leverage billions of dollars in transit infrastructure



Transportation benefits
Transportation benefits

  • People living in walking distance to transit are up to 5 times more likely to ride it

  • Families in TOD’s drive an estimated 40-60% less


Tod initiatives
TOD initiatives

  • State legislation in 2008 – TOD is part of MDOT’s mission!

  • Tools

    • MDOT resources

    • Maryland Economic Development Corporation

    • Predevelopment planning, feasibility funding

    • Priority for the location of State offices and labs, under Governor O’Malley’s Executive Order

    • Sustainable Communities Act of 2010 – Heritage Tax Credit

    • Priority consideration for Smart Growth programs


Support tod projects
Support TOD projects

  • Joint Development

    • MDOT Office of Real Estate

    • WMATA Joint Development Program

      • Guidelines

      • Policy emphasis by Maryland

      • New direction/leadership

  • Work with public and private

    • ½ mile of transit station – part of a plan to encourage walking and transit ridership



Naiop md dc the public sector impact on real estate in 2010 february 24 2010

Thank You!

Andrew J. Scott

Special Assistant to the Secretary for Economic Development

Maryland Department of Transportation

ascott@mdot.state.md.us

www.marylandtransportation.com

410-865-1095