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As Transit Oriented Deve opment<br />
1 Status Report 20<strong>07</strong><br />
region While 891<strong>07</strong>9 of the region s proposed TOD residential units are reported to be<br />
affordable more than half of these are also in DHA redevelopment projects Only 1 132<br />
of completed and units under construction in senior housing developments but this figure<br />
rises to26324 for the proposed units<br />
2 Transit Influence on Development Decisions<br />
One should not deduce that the inclusion of a specific development project in this report sig<br />
nifies that it would not otherwise have been built but for its proximity<br />
to transit However<br />
access is a key consideration among the many factors that influence development decisions<br />
The presence of transit service with regional connectivity within a 5 to 10 minute walk cer<br />
tainly improves accessibility which enhances the attractiveness of a potential development<br />
site<br />
For example developers of several new projects in the I25 corridor have said that while<br />
the proximity of light rail service may not have been a strong factor in their original decision<br />
to build it is now one of their key selling points and marketing messages Shea Properties<br />
Colorado one of the developers near Arapahoe Station on the Southeast Corridor believes<br />
the ir TOD project has such a strong location that Shea is moving<br />
quarters there Moorel<br />
its metro Denver head<br />
As reported in the Wa Street Journa Demographic and lifestyle shifts are among the pri<br />
mary reasons many cities and developers are willing to bet on transit oriented development<br />
A growing number of households include singles and retiring baby boomers who are opting<br />
to live in smaller homes in urban areas Dunhaml<br />
According to a 2006 study conducted by the market research company GFK Rope<br />
of more<br />
than 1000 US homeowners Generation Y also called Millenniums and Echo Boomersl<br />
those born between 1978 and 1988 are looking for homes primarily based on location es<br />
pecially in areas with proximity to transit and entertainment The majority of Gen Yers also<br />
purchase townhomes or condos the primary TOD ownership products rather than single<br />
family homes Mike Bradley From Boomers to Gen YADream Home for Every Genera<br />
tion Denver Business Journal 126 <strong>07</strong>1<br />
The Denver region had the sixth highest percentage of baby boomers of any US metropoli<br />
tan area according to the 200 Census and the Denver Regional Council of Governments<br />
DRCOG estimates its share is growing at almost twice the nationwide rate Boomer friend<br />
ly communities also share many elements of TOD such as pedestrian access to public trans<br />
portation parks and recreation and food stores and restaurants Creating Senior Healthy<br />
Communities DRCOG 20<strong>07</strong><br />
Whether you are 15 or 85 TODs are going to become more and more a part of life for the<br />
sake of accessibility speed and time said Peter Kudla president and CEO of Metropolitan<br />
Homes which is developing the Vallagio residential mixed use project near Dry Creek Station<br />
Cyndia Zwahlen Ticket to Ride Colorado Homes and Lifestyle<strong>30</strong>71<br />
Draft 1 24 December 20<strong>07</strong><br />
Rev 2
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