Developer Hines' Riverwalk project in San Diego is an example of the benefits of transit-oriented development. Riverwalk is the first transit-oriented village in San Diego, and it will include 400 affordable housing units and a total of 4,300 homes. It will also include retail, office space and large open spaces along the San Diego River. There are many benefits of transit-oriented development, including the opportunity to develop more equitable housing and more equitable communities.

"Riverwalk will include approximately 400 units of affordable housing. Proximity to transit will be a great advantage to many of these residents who may find it financially beneficial to not own a car," Eric Hepfer, managing director at Hines, tells GlobeSt.com. "Climate change is another key social equity consideration, and the only way to achieve the goals of San Diego's Climate Action Plan is to reduce our dependence on vehicles. Lastly, is the long-term costs of public services as they relate to land use. As urban planners are starting to realize, sprawling single-family homes require more roads, more miles of utilities, and more fire and police services per person than do infill communities like Riverwalk."

Transit-oriented communities are also more convenient and solve transportation issues. "We know that the average person will only choose to ride transit if it is competitive with the car in terms of convenience, cost, flexibility and safety. Transit is already the clear winner on cost and safety, but for flexibility and convenience the car wins today," Pete Shearer, an associate at Hines, tells GlobeSt.com. "With the upcoming completion of the San Diego Trolley's mid-coast trolley extension, riders using the new Riverwalk trolley stop will have less than a 20-minute commute to most major employment centers by using public transit instead of their cars."

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.