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NAIOP – MD/DC The Public Sector Impact on Real Estate in 2010 February 24, 2010

NAIOP – MD/DC The Public Sector Impact on Real Estate in 2010 February 24, 2010. Andrew J. Scott Special Assistant to the Secretary for Economic Development Maryland Department of Transportation. Updates ICC Purple Line Corridor Cities Transitway Funding Transit Oriented Development.

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NAIOP – MD/DC The Public Sector Impact on Real Estate in 2010 February 24, 2010

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  1. NAIOP – MD/DCThe Public Sector Impact on Real Estate in 2010February 24, 2010 Andrew J. Scott Special Assistant to the Secretary for Economic Development Maryland Department of Transportation

  2. Updates • ICC • Purple Line • Corridor Cities Transitway • Funding • Transit Oriented Development

  3. 68% Complete 54% Complete 29% Complete 3

  4. Purple Line • 16-mile east-west light rail line extending from Bethesda in to New Carrollton • Connects • 4 branches of the Metrorail system • 3 MARC commuter rail lines and Amtrak’s Northeast Corridor • local bus routes

  5. Connecting Places Silver Spring Fenton Village Arliss/Long Branch Takoma/Langley Chevy Chase Lake East Campus UMD – Campus Ctr. Riverdale Park Bethesda New Carrollton Fenton Village 5

  6. Corridor Cities Transitway • Part of I-270 Multi-modal Corridor Study • 17 stations, 14 miles • Alternatives include Light Rail Transit (LRT), Bus Rapid Transit (BRT) • Gaithersburg West Sector Plan • “Science City” – Hopkins live/work center • Selection of Locally Preferred Alternative

  7. Transportation Funding • Economic downturn severely impacted the State’s transportation program • People buying fewer cars, driving less • Titling tax, gas tax • Deferrals of 20% of our capital program • Maintaining a $9.1 billion 6-year program

  8. Maryland ARRA strategy “Fix it first” Smaller, quicker to implement projects Accountability Compete for discretionary $$$s American Recovery and Reinvestment Act • Maryland ranked #1 in reporting spending • Met 50% deadline 3 months ahead of schedule

  9. Transit Oriented Development Concentrating jobs, housing, retail within walking distance to transit stations; creating vibrant communities. • TOD requires support of many actors: developers, local government, transit agencies, community • State aggressively supporting: Smart, Green & Growing

  10. The State’s interest in TOD • Critical component for transportation & sustainability • 1.1 million new residents projected by 2030 • Will consume 650,000 acres of open space • Could be accommodated at Maryland’s transit stations • Leverage billions of dollars in transit infrastructure

  11. Percentage Growth in Maryland 1990-2006

  12. Transportation benefits • People living in walking distance to transit are up to 5 times more likely to ride it • Families in TOD’s drive an estimated 40-60% less

  13. TOD initiatives • State legislation in 2008 – TOD is part of MDOT’s mission! • Tools • MDOT resources • Maryland Economic Development Corporation • Predevelopment planning, feasibility funding • Priority for the location of State offices and labs, under Governor O’Malley’s Executive Order • Sustainable Communities Act of 2010 – Heritage Tax Credit • Priority consideration for Smart Growth programs

  14. Support TOD projects • Joint Development • MDOT Office of Real Estate • WMATA Joint Development Program • Guidelines • Policy emphasis by Maryland • New direction/leadership • Work with public and private • ½ mile of transit station – part of a plan to encourage walking and transit ridership

  15. Transportation & Economic Development • JOBS • JOBS • JOBS

  16. Thank You! Andrew J. Scott Special Assistant to the Secretary for Economic Development Maryland Department of Transportation ascott@mdot.state.md.us www.marylandtransportation.com 410-865-1095

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