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Transit Oriented Development

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A broad coverage of literature on various factors that could create a framework in designing commercialization area will be discussed in each of this section. A sustainability of transportation concept will be discussed in which light rapid transit will be one of the option to maintain its concern. Following to the answer of sustainability concern in the new transportation system, Transit-oriented Development concept will be presented in order to answer cost efficient issue in city planning. Thus is expected to brought the issue into a bigger stage which involving city plan as a whole system that could support the concept of sustainability. Hereinafter, a case in commercialization design of Transit-oriented Development will be discussed to …show more content…

Transit oriented developments known as mixed use communities that maximize public transportation and decrease the need for private vehicle. The implementation of transit oriented developments can lead to numerous economic benefits as well as improve sustainability. When combined with renewable energy sources and electric railway systems, transit oriented developments can reduce congestion on roadways and dramatically decrease pollutants. By providing walkable, compact communities, transit oriented developments help residents to lead a low carbon lifestyle. The close proximity of residential housing to employment and recreational opportunities also helps reduce energy consumption while enhancing the local quality of life …show more content…

They have been successfully created a business model which integrate transportation system with the property with the formulation “Rail plus Property” R+P. Thus advance could make money from the property in which having a value increased simultaneously with the construction of rail-based system. It is definitely not to forget the government support in providing MTR with land development rights at every stations or depots along the route. To convert these developments right into land, MTR Company pays the government a land premium based on the land’s market value without the railway. Through competitive tender process, MTR collaborates with private developers to build properties. As the result, MTR will receive share of profits that developer makes from that properties, the portion might be percentage of total development profits, fixed lump sum or a portion of commercial properties built on the site. The revenue from R+P could be utilized for railway financing (operation and maintenance or generates fund for new projects) and urban development approach. A concept of commercialization offers amenities people meets their needs for example laundry, WiFi, coffee etc. It is noticed that integrating railway expansion with property development will help make public-transit system financially self-reliance and also promote urban growth. Lessons learned that we could adopt

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