SEPTA Doubles Down on Transit-Oriented Developments

Philadelphia’s main transportation authority is trying to identify more development opportunities along transit lines.

SEPTA’s Transit Oriented Communities program is seeking to take advantage of the land it owns by teaming with developers on local projects, the Inquirer reported. Approximately 2 million people live on 10 percent of the region’s land within a half-mile of the area’s high-frequency transit and Regional Rail stations.

The program achieves two objectives: building more housing and walkable communities for local commuters and putting money in the coffers of the transit system, which is often burdened by financial troubles.

“We can’t expect to grow ridership if people cannot live and work near our services,” said SEPTA executive Jennifer Dougherty.

Last year, SEPTA released a request for proposals for a development on a three-acre parking lot next to the Ambler train station. Korman Communities and Benchmark Real Estate were awarded the contract in February.

The zoning for the site allows for up to 35 units per acre, which could be expanded to 50 units per acre if bonus requirements are met. In total, a development could house up to 170 units, as well as ground-floor retail.

The developer tandem is paying $402,500 a year to start for a 99-year ground lease, which features 3 percent annual increases. Over the deal’s lifetime, it could generate $236 million for SEPTA.

In Conshohocken, Alterra Property Group is pursuing a 300-unit apartment building on SEPTA land once destined for a massive parking garage.

Additionally, SEPTA is working with the local community on development concepts for a 1.7-acre site parking lot at Langhorne Station, holding an open house several weeks ago. There are 400 multifamily units in place within a mile of the station, according to SEPTA, but none have been built since 1966.

“This could draw other development to the borough,” Penndel Councilmember Gary Nickerson told the Inquirer. “It could get things kicked off, once somebody goes first.”

— Holden Walter-Warner