Last Thursday representatives from Caltrain, the Valley Transportation Authority (VTA), and Bay Area Rapid Transit (BART) presented [PDF] current plans for building housing and offices on top of station parking lots, at the San Francisco Bay Area Planning and Urban Research Association (SPUR) in downtown San Jose. Rail station parking lots offer the ultimate in “Good TOD” – Transit Oriented Development that guarantees new transit riders while providing housing and commercial space that can be conveniently reached car-free.
“There are many beautiful sites along Caltrain that could be ripe for development and become a revenue generating source for Caltrain,” said Caltrain Principal Planner Jill Gibson. “Often developers goals are in direct conflict with transit needs…so it’s imperative that we identify long-range transportation goals early on.”
Caltrain is working with those cities that have already completed station area redevelopment plans and adopted appropriate TOD zoning near stations to support mixed-use developments. The long-debated San Carlos Transit Village, now under construction, will bring 202 apartments to the former San Carlos Caltrain Station parking lot along with 26,000 square feet of commercial space. The project was scaled down in multiple iterations from a proposed 453 apartments.
A long-term lease agreement is now being negotiated with Sares Regis Group to develop 100 to 150 apartments on the Hayward Park Station parking lot, along with at least 50 parking spaces available to Caltrain passengers, 29 electronic bike lockers, and space for six SamTrans buses.
BART and VTA are developing real estate at their stations on a much larger scale than Caltrain. BART has already built several major developments on its parking lots [PDF] and is “engaged in 18 transit-oriented development projects at its stations, representing over $2.7 billion in private investment” according to the agency’s property development website.