Kathi Ko | Mobilizing the Region
Tri-State and the One Region Funders’ Group assembled Transit-Centered Development Grant Program recipients last month to discuss progress made since the first round of grants to advance TOD were made in 2009.
The value of using philanthropic support to leverage additional investment for transit-oriented development (TOD) is unprecedented. Through two rounds of grant-making in 2009 and 2012, the program awarded $335,000 in funds to 11 municipalities throughout New York, New Jersey and Connecticut. These awards leveraged $135,000 in local contributions, $6.7 million in county and regional funds, $23 million in state grants and loan guarantees, and $4 million in federal funds.
Presentations from the grantees made it clear that these funds are going a long way to undo decades of sprawl. Some notable updates include:
Affordable senior housing coming to Flushing, Queens
The Flushing-Willets Point-Corona LDC received a $14,000 grant in 2011 and used the funds as part of a larger proposal to revamp the LIRR’s Flushing station. Claire Schulman, former Queens Borough President and head of FWPCLDC, announced that the New York City Department of Housing, Preservation and Development is now poised to transform a 43,200 square foot parking lot into as many as 200 units of affordable senior housing. Read more