The best formula for public transit is the Rail plus Property business model. In Hong Kong, the MTR Corporation buys up land adjacent to a planned future station, then builds the station afterwards. Then makes money from renting out the properties adjacent to the station.
JR East in Japan operates in the same way: it makes the majority of its profit from the real estate, malls, and hotels it operates adjacent to its train stations.
No need to give distant examples - the US train boom used the same strategy.
the US train boom is much further away.
you can get to hong kong or jspan in hours to days. the train boom is about a century away
Did it? I always assumed the US train boom aligned with shipping companies more than land at the destinations, which is why even today cargo gets priority over Amtrak.
Outside of the Eastern part of the US, the railroad land grant programs were a major part.
https://en.wikipedia.org/wiki/Railroad_land_grants_in_the_Un...
This is a part of why there were so many tiny little towns out West which were essentially just a railroad stop and a few buildings.
Sound Transit still uses this strategy in Seattle region.
They really don't. They don't build residential or commercial property.
I don't like having more feudalism though. One company owning all the good land - yikes!
The government should own it. All infrastructure like that should be in a nations hand.
And then the government gets to decide who can lease that prime real estate next to the station? Sure, that won’t have any problems with corruption
[dead]
Ah yes, the government has never completely botched prime real estate before, nor have they ever botched housing build projects.
Federal and state governments own large parcels of prime NYC, LA, SF, Chicago and other metro land, most of which is underutilized. As an example, they operate or sublease numerous surface level parking lots in those places.
The federal government owns a prime parcel on State Street in Chicago, prime real estate, that is completely abandoned. There are many examples of this.
Your solution is to place this responsibility into the hands of those who have shown complete and utter incompetence across successive administrations?
Sure, that might be the optimal strategy. But to fix what already exists, using self driving cars to feed in to the existing network could work.
Especially if the Waymo data feeds back to the government to plan scheduled PT on the most popular routes.