We're on the cusp of a transformation of Honolulu's urban core not seen since the post-statehood boom years. It'll be a dramatic reshaping of the way we live, work, and play, stemming the retreat of urban living to the suburbs; producing opportunities for affordable housing closer to where we work; stimulating business and retail growth; widening open spaces; and creating a future only limited by our imaginations.
I speak of TOD, Transit-Oriented Development. TOD is what's happening along rail transit routes in cities across the nation. In places like Phoenix, Santa Clara, Calif., and Portland, Ore., rail systems have catalyzed urban development and rejuvenated the areas surrounding the transit stations.
The Urban Land Institute has stated that TOD is one of the best bets for investors because Americans' housing preferences are shifting toward an urban lifestyle offering proximity to jobs, shopping and entertainment; affordability; mobility; and open space — in short, a better quality of life.
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