TransLink may play a future role in the development of housing in Metro Vancouver.

A study commissioned by the regional public transportation provider has recommended that it considers involvement in the creation of affordable and transit-oriented housing.

Coriolis Consulting made the suggestion as part of its study on how to capture and utilize some of the additional land values created by transit.

The study confirmed that transit provides properties a lift, boosting the value of lands along and near its way.

Geoff Cross, vice president of transportation planning and policy with TransLink, has provided the Mayors’ Council on Regional Transportation a report on potential land value capture approaches identified by Coriolis.

“Given that investment in TransLink’s rapid transit system can create such a significant share of land value uplift for developments in this region, it is reasonable for TransLink to capture more of this value to help fund regional objectives,” Cross wrote.

These approaches include participation in urban development, and the implementation of a so-called benefitting area tax, wherein proceeds may be invested in new housing.

Mayors received Cross’ report as part of their regional transportation council agenda on May 28 this year.

The same mayors also sit in the board of Metro Vancouver, the regional government that provides direction for growth in the Lower Mainland.

Mark Seinen is a senior planner with the regional body, and he has prepared a report recommending support for a potential role by TransLink in housing.

Seinen suggested that Metro Vancouver sends the board of TransLink a letter expressing support for the transportation provider to come up with a “statement of objectives for affordable housing that considers an increased role in supporting transit-oriented affordable housing”.

Seinen’s report is included in the agenda Friday (June 12) of the regional planning committee.

Quoting from the Coriolis report, Seinen wrote that the study recommends that “because of the ridership benefits from rental housing at transit stations, and because of the pressing need for transit-oriented rental housing in the region, TransLink should consider using land acquisition / disposition and participation in development as means to achieve revenues that can be applied to a mix of transit capital investment, transit operations, and affordable housing”.

Seinen also mentioned a benefitting area tax as one potential tool to collect some of the land value lift created by transit.

According to the regional planner, the tax could be a source of recurring revenue for housing development.

Seinen also wrote that Metro Vancouver and other non-profit housing operators could “partner with TransLink to support operations of affordable rental housing supported by land value capture proceeds, potentially including units delivered by TransLink-led developments”.

Again referring to the Coriolis study, Seinen noted that the research identifies a number of ways to support transit-oriented housing.

One is through “impact investment”, using proceeds from land value capture taxes and fees.

A second one is through projects that “ directly provide rental housing units in development projects on TransLink-owned land”.

A third one is regulatory, which means including affordable housing provisions when TransLink disposes surplus property.

Going back to Cross’ report, the TransLink executive noted that if the transportation agency were to employ tax or fee-based approaches in capturing some of the increased land values, the proceeds could be used for transit, walking, and cycling projects.

In the absence of any new identified role for housing, Cross pointed out that there is “not a policy justification for TransLink, as a regional transportation authority, to use the tax- and fee-based approaches…to support the creation of transit-oriented affordable rental housing, as that is already the mandate of other levels of government “.

“In contrast, if TransLink were to adopt the land- and development-based approaches…, it could become involved in decisions not only about transit, walking, and cycling infrastructure but also about the creation of transit-oriented affordable rental housing,” Cross wrote.