Transit Oriented Development has received a lot of buzz and promotion over the last couple of decades as an urban planning philosophy, but the roots of the idea go back over a hundred years. The main philosophy of Transit-Oriented-Development (TOD) involves maximising the amount of living space for residential, commercial, and leisure activities within walking distance of key public transport infrastructure – notably heavy and light rail lines. There is usually a high demand for developments within TOD-focused areas, and often they can end up becoming expensive and delayed. As with all large infrastructure projects, whether they are residential, commercial or leisure, it is advisable to organise quantity surveyor reports to ensure correct financial management and cost estimation. This will save your development a lot of money in the long run.
Walkability and TOD
TOD allows developers to produce larger, higher-density projects within proximity to rail stations. This is due to the increased demand for housing near transit, and the capacity to move people without hopefully increasing road congestion too heavily. In TOD neighbourhoods, the design philosophy suggests that people will not need to use cars often for transportation due to the easy to access public transport and a large number of facilities within walking distance. Higher-density development is usually targeted within around 500m of a station or hub, as this is a 5–10-minute walking distance. Beyond 5-10 minutes, people begin to opt for vehicular modes of transport rather than on foot. A way to extend this radius is by the introduction of adequate bike infrastructure, designing areas to make bikes a faster and more efficient mode of transportation to a location ~800m-1km away than cars after having to deal with parking.
Car-dependant urban regions & TOD as an alternative.
In higher-density areas, if everyone was to use a car for general daily mobility, the region would require wider roads to allow for the increased demand (compared to a lower-density area) to fit all the cars. However, by increasing the capacity of the road and introducing more car-friendly areas such as highways and large multi-lane roads, it would make the area less walkable and pedestrian friendly. Residents would be less inclined to walk around due to noise (until electric cars become the default), pollution, heat (radiating from the black asphalt in Summer), and safety. This would ultimately lead to more residents choosing to opt for cars as their choice of transportation, increasing traffic and requiring increased road capacity – further perpetuating the cycle. Transit-oriented development aims to provide an alternative primary mode of transportation for residents of a high-density area by providing (hopefully reliable), public transport with high capacity and reduced space.
Developer benefits
Land near train stations is usually already high value compared to its surroundings, however, the re-zoning of a region near a station or public transport hub for increased density can turbocharge the value of land in that region if the demand matches. The rezoning of premium land around train stations for higher-density, mixed-use development is great news for developers that can buy the land whilst it was previously zoned for detached single-family dwellings and increase the household capacity by introducing mid-density townhouses and units. Whilst the land itself may be relatively expensive to purchase upfront after the region becomes fully developed with increased amenities, the value of the land alone will increase dramatically. The development of a TOD region gives it the potential to be some of the highest-value lands within a significant radius. Meanwhile, the increased density of the dwellings provides additional potential revenue streams for developers rather than single-family detached units.
Quantity Surveyor Reports and Developments
In TOD areas, development is largely encouraged by governments, and work is done in partnership between the public and private sectors. However, if an area is undergoing extensive redevelopment, there may be an infrastructural masterplan organised by the government or large private stakeholders for what they would like to achieve with the space. This means that developments in these areas can be far more complex than regular residential or commercial developments and it may require far more considerations than usual. In areas undergoing extensive redevelopment, there may be periods of time where the infrastructure and capacity of the neighbourhood may be mismatched, and developments may only be allowed to occur within a specific timeframe or to a rigid timeline. To help organise this, it is advisable to organise a quantity surveyor report to adequately assess the complicated project costs and organise a suitable timeframe for development.
Organising Quantity Surveyor Reports:
At Section 94, our team of highly qualified quantity surveyors can help organise all the required and recommended quantity surveyor reports for your developments. Whether it involves cost estimates, progress claims, timeline organisation, or Section 94 contributions. As mentioned, many Transit-oriented developments are master planned and require adequate timeline structuring. There is no point wasting time and money on your development, organise a quantity surveyor report today.
With over a decade of industry experience, our qualified building quantity surveyors are AIQS certified with a fast turnaround time and clear communication. Give us a call today at 0413 953 869 or email us at info@section94.com.au to discuss our quality budget services for residential and commercial builds.