Seriously: Talking TOD…


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Transit Oriented Development is an urban planning model that can be financially viable. The Hong KongR+P (Rail plus Property) TOD model is profitable and fully funded by the private sector. In 2016, it registered a net profit of US$ 1.32 billion.

Here is how the model works. Hong Kong’s transportation agency – MTR – builds a new rail line and partners with private developers to build properties above or around the new line. MTR then receives a profit share from the developed properties. Generated funds are used for new projects and operational costs of the MTR.

Hong Kong has the world’s highest rates of public transit use (90% of all trips) and lowest rates of car ownership (56 cars per 1,000 citizens). Compare this with the average of 404 cars per 1,000 citizens in OECD countries. Annual carbon emissions in Hong Kong from passenger transport are 378 kgs per person, compared with about 1,000 in European cities.

For developing #Asian countries with high population densities, limited resources and high climate vulnerabilities, #TOD is a very pragmatic#sustainable #urban #development model in the medium-long run.

#unicitiofficial #Asia #city #cities #Asiancities#sustainability #resilience #urbanism#sustainabledevelopment #TOD #MTR #HongKong#transitorienteddevelopment #transit#publictransport #masstransit #pedestrian#urbanisation #urbandevelopment #Railplusproperty#LVC #LetsBuildAsia #climate #PPP #adaptation#planning #environment #privatesector #rail #BRT #publicprivatepartnerships

 

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