Abstract
Synthesizing relevant experiences in US and some Asian countries, this article reviews joint development as a value capture strategy for funding public transit. The review starts from the concept of joint development in transportation, its rationale, and the extent of use. We then provide a classification of joint development models with respect to ownerships and transaction methods. These models are illustrated with case examples from multiple countries. After that, we assess the efficacy of joint development with a set of criteria for transportation finance evaluation, including economic efficiency, social equity, revenue adequacy & sustainability, and political & administrative feasibility. Finally, we conclude and provide recommendations for policy consideration.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 5-17 |
| Number of pages | 13 |
| Journal | Journal of Transport and Land Use |
| Volume | 5 |
| Issue number | 1 |
| DOIs | |
| State | Published - Dec 24 2012 |
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Keywords
- Joint development
- Transportation finance
- Value capture
Cite this
Joint development as a value capture strategy for public transit finance. / Zhao, Zhirong J; Das, Kirti V; Larson, Kerstin.
In: Journal of Transport and Land Use, Vol. 5, No. 1, 24.12.2012, p. 5-17.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Joint development as a value capture strategy for public transit finance
AU - Zhao, Zhirong J
AU - Das, Kirti V
AU - Larson, Kerstin
PY - 2012/12/24
Y1 - 2012/12/24
N2 - Synthesizing relevant experiences in US and some Asian countries, this article reviews joint development as a value capture strategy for funding public transit. The review starts from the concept of joint development in transportation, its rationale, and the extent of use. We then provide a classification of joint development models with respect to ownerships and transaction methods. These models are illustrated with case examples from multiple countries. After that, we assess the efficacy of joint development with a set of criteria for transportation finance evaluation, including economic efficiency, social equity, revenue adequacy & sustainability, and political & administrative feasibility. Finally, we conclude and provide recommendations for policy consideration.
AB - Synthesizing relevant experiences in US and some Asian countries, this article reviews joint development as a value capture strategy for funding public transit. The review starts from the concept of joint development in transportation, its rationale, and the extent of use. We then provide a classification of joint development models with respect to ownerships and transaction methods. These models are illustrated with case examples from multiple countries. After that, we assess the efficacy of joint development with a set of criteria for transportation finance evaluation, including economic efficiency, social equity, revenue adequacy & sustainability, and political & administrative feasibility. Finally, we conclude and provide recommendations for policy consideration.
KW - Joint development
KW - Transportation finance
KW - Value capture
UR - http://www.scopus.com/inward/record.url?scp=84871296182&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84871296182&partnerID=8YFLogxK
U2 - 10.5198/jtlu.v5i1.142
DO - 10.5198/jtlu.v5i1.142
M3 - Article
VL - 5
SP - 5
EP - 17
JO - Journal of Transport and Land Use
JF - Journal of Transport and Land Use
SN - 1938-7849
IS - 1
ER -