IDEAS home Printed from https://ideas.repec.org/a/ris/jtralu/0073.html
   My bibliography  Save this article

Joint development as a value capture strategy in transportation finance

Author

Listed:
  • Zhao, Zhirong Jerry

    () (University of Minnesota)

  • Das, Kirti Vardhan

    () (University of Minnesota)

  • Larson, Kerstin

    () (University of Minnesota)

Abstract

This article examines joint development as a value capture strategy for funding public transportation. We start from the concept of joint development, its rationale, a brief history, and the extent of its use. Joint development projects in Hong Kong, Taiwan, Tokyo, and Thailand are profiled, as well as domestic examples in Washington, DC, New York, NY, and Portland, OR, etc. Then we provide a framework to classify joint development models by ownerships (public or private) and by types of transaction (real property or development rights). Next, joint development is evaluated along four revenue criteria including efficiency, equity, sustainability and feasibility. Finally, we summarize the advantages and disadvantages of joint development as a transportation finance strategy, and provide recommendations for policy consideration or implementation.

Suggested Citation

  • Zhao, Zhirong Jerry & Das, Kirti Vardhan & Larson, Kerstin, 2012. "Joint development as a value capture strategy in transportation finance," The Journal of Transport and Land Use, Center for Transportation Studies, University of Minnesota, vol. 5(1), pages 5-17.
  • Handle: RePEc:ris:jtralu:0073
    as

    Download full text from publisher

    File URL: http://www.jtlu.org/index.php/jtlu/article/view/142/208
    File Function: Full text
    Download Restriction: no

    References listed on IDEAS

    as
    1. Cervero, Robert, 1992. "Land Market Impacts of Urban Rail Transit and Joint Development: An Empirical Study of Rail Transit in Washington, D.C. and Atlanta," University of California Transportation Center, Working Papers qt5890b3xz, University of California Transportation Center.
    2. Cervero, Robert & Landis, John, 1997. "Twenty years of the Bay Area Rapid Transit system: Land use and development impacts," Transportation Research Part A: Policy and Practice, Elsevier, vol. 31(4), pages 309-333, July.
    3. J Landis & R Cervero & P Hall, 1991. "Transit Joint Development in the USA: An Inventory and Policy Assessment," Environment and Planning C, , vol. 9(4), pages 431-452, December.
    4. J Landis & R Cervero & P Hall, 1991. "Transit joint development in the USA: an inventory and policy assessment," Environment and Planning C: Government and Policy, Pion Ltd, London, vol. 9(4), pages 431-452, August.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Levinson, David & Zhao, Zhirong Jerry, 2012. "Introduction to the special issue on value capture for transportation finance," The Journal of Transport and Land Use, Center for Transportation Studies, University of Minnesota, vol. 5(1), pages 1-3.
    2. repec:eee:trapol:v:57:y:2017:i:c:p:59-67 is not listed on IDEAS
    3. Guthrie, Andrew & Fan, Yingling, 2016. "Developers' perspectives on transit-oriented development," Transport Policy, Elsevier, vol. 51(C), pages 103-114.

    More about this item

    Keywords

    Value capture; Transportation finance; Joint development;

    JEL classification:

    • R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:jtralu:0073. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Arlene Mathison) or (). General contact details of provider: http://edirc.repec.org/data/ctumnus.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.