Abstract
Some cities in North America and Europe have also used development-based land value capture (LVC), allowing urban railways help improve urban dwellers’ mobility and accessibility and develop world-class service and knowledge-based business clusters by enhancing economic competitiveness, environmental sustainability, and social equity. New York City has a long history of programs with transferable development rights (TDRs) for preserving landmarks and densifying commercial activity on and around Grand Central Terminal. The Washington Metropolitan Area Transit Authority (WMATA) has extensively used joint development (JD) programs to achieve transit-oriented development (TOD) by sharing the benefits and costs of planning and development with local governments and private developers. In London, local governments and private developers, redeveloping the King’s Cross rail yard, stress the importance of sharing the benefits conferred mainly around the newly integrated transit terminus. These three cases provide analogies and lessons for practitioners in developing countries.
| Original language | English |
|---|---|
| Title of host publication | Financing Transit-Oriented Development with Land Values: Adapting Land Value Capture in Developing Countries |
| Editors | Hiroaki Suzuki, Jin Murakami |
| Place of Publication | Washington, DC USA |
| Publisher | The World Bank Publication |
| Pages | 129-157 |
| ISBN (Print) | 9781464801495 |
| Publication status | Published - 15 Jan 2015 |