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TOD encourages increased densities and job concentrations in relatively limited regions. It may result in agglomeration effects that have been shown to improve a city's competitiveness. According to studies, doubling job density, for example, could boost economic productivity by 5 to 10%.
2. In TOD concept, compact urban growth and high-quality public transportation are also mutually reinforcing. Mass transit such as rapid transit trains and commuter trains can handle the massive passenger volumes that come with dense development, while the concentration of jobs and housing surrounding stations helps keep public transportation financially viable.
3. With TOD, the accessibility of the area is improved by proximity to mass transit, which increases their desirability and real estate value.
Cities can utilise a portion of the increased value to fund more transit improvements, affordable housing, and other efforts that support inclusive growth in the long run.
While TOD implementation could raise property values and expedite gentrification, it can be mitigated by dedicating a major portion of the new development to affordable housing. Residents of all income levels benefit from this type of inclusive TOD approach since it improves access to job opportunities and services.
4. TOD makes public transportation more appealing and efficient by concentrating businesses, services, and housing within the catchment area of transit stations. This will reduce people reliance on private cars and promoting shorter commutes. As a result, TOD generally leads to increased productivity and a lower carbon footprint. In other words, TOD is one of the ways to sustainable development in the city centre.
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