Implement constituent-driven, data-informed market analyses to meet the demand for specific uses in transit-rich locations and provide assurance that the development program will result in net revenue or at least revenue neutrality for the jurisdiction.
- View the development proposal, in part, as a business plan to convince both development partners and reviewing agents that the balance of uses on the project site meets the needs and vision of both the community and jurisdiction, while maintaining financial feasibility for the developer and transit agency.
- Planning efforts should include innovative market analyses to move beyond a typical project review lens. Demographic analysis that includes metrics such as age, education, vehicle access, and housing tenure can enrich additional interactive outreach measures such as focus groups, informational interviews, or surveys.
- Conduct separate market analyses for residential, commercial, office, and other proposed uses that include population, household, employment, business, and lease rate data. Identify existing development inventory by use within at least the half-mile walkshed of the transit station area.
- Develop specific recommendations for the types and intensities of uses that are appropriate for the specific transit station area that accommodates the local market demand and matches the project components to that demand.