On Thursday, the U.S Department of Transportation’s Federal Transit Administration (FTA) announced it was making nearly $10.5 million in competitive grant funds available for transit-adjacent development.
The FTA’s Pilot Program for Transit-Oriented Development (TOD) planning will support planning and investment near transit hubs with a focus on projects that plan affordable housing.
Funded through the Bipartisan Infrastructure Law, the TOD program will link public transportation, land use and housing to create walkable and transit-connected communities, officials said. The TOD planning can reduce transportation costs for American families and reduce their carbon footprint by improving access to transit, jobs and services.
“Many Americans spend almost half of their monthly budget on housing and transportation costs – so we’re taking steps to bring those costs down,” U.S. Transportation Secretary Pete Buttigieg said. “The funding we’re announcing today will support developing affordable housing closer to public transportation — helping lower the combined cost of housing and transportation for Americans.”
Since FY 2015, FTA’s TOD program has provided almost $122 million to help 150 communities plan for new opportunities around transit. In FY 2023, FTA gave priority consideration for projects that include affordable housing options.
“The Biden-Harris Administration is committed to giving more Americans the opportunity to find a home they can afford and transportation solutions that fit their lives,” FTA Acting Administrator Veronica Vanterpool said. “By choosing projects that focus on affordable housing, FTA is proving to communities all over the nation that if you are willing to find new ways to create great housing opportunities, we are here to support you.”
Applicants must be an existing FTA grant recipient, and transit project sponsors must work with land use planning authorities. The application period for the grants will close on July 22, 2024.