LIIF & Morgan Stanley Op-Ed in Huffington Post Says TOD Can Help Get America to Work
In an op-ed published in the Huffington Post, Nancy O. Andrews, LIIF’s President and CEO, and Audrey Choi, Managing Director and Head of Global Sustainable Finance at Morgan Stanley, say that integrating transit, affordable housing and community services has both economic and social benefits for the nation. The US loses $100 billion annually in time and fuel to commuting. Low income households, for whom the cost of home and transportation takes a disproportionately large share of income, stand to benefit from transit-oriented development (TOD) that includes affordable housing and services, like child care and schools.
Incorporating the needs of low income families and communities in TOD projects requires cross-sector collaboration among government, nonprofit and private stakeholders, often making these projects complicated to develop and finance. However, the benefits are significant, including increased accessibility to quality jobs, improved environmental sustainability and enhanced economic competitiveness for local communities. As an example, Ms. Andrews and Ms. Choi cite the recent success of TOD efforts such as the Bay Area Transit-Oriented Affordable Housing Fund, a locally-led, public-private partnership to finance equitable TOD projects. Ms. Andrews and Ms. Choi more fully describe their thoughts in a recently released paper, “How Transit-Oriented Development Can Help Get America to Work.”Read the full op-ed on the Huffington Post
- Read the LIIF & Morgan Stanley paper
- Learn more about LIIF’s TOD Program
- Learn more about the Bay Area TOAH Fund
Source: The Huffington Post