CHALLENGES & OPPORTUNITIES
Reliable, safe, and accessible transit options can also reduce the financial burden of living in downtown. While downtown housing costs are high, mobility costs can be lower than that of suburbs, given proximity to essential services, jobs, and education. Additionally, households in downtowns depend far less on driving cars and far more on public transportation and active mobility (translation: walking and biking). This translates into significant overall savings. A joint study by the Brookings Institution, Center for TransitOriented Development, and the Center for Neighborhood Technology concluded that “neighborhood characteristics such as density; walkability; the availability and quality of transit service; convenient access to amenities such as grocery stores, dry cleaners, day care, and movie theaters;
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and the number of accessible jobs shape how residents get around, where they go, and how much they ultimately spend on transportation.” While this doesn’t fully solve the issue of housing affordability, reduced transportation costs do reduce the financial burdens on downtown residents. While affordable housing and transportation represent key components of any effort to keep downtowns inclusive, ensuring that downtown services and amenities are as diverse as the residents and visitors who frequent downtown plays just as central a role in making sure that downtown remains welcoming. Place management organizations have an opportunity to encourage existing retailers and property owners to embrace downtown’s heritage and local needs.
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