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Chapter 1: Introduction and Background
1.1 Introduction
Joint development is beneficial to both transportation agencies and other agencies such
as municipalities and private developers, because it brings them increased ridership, property
values and property tax revenues. It also increases public activity around stations and can
positively improve public interaction and civic pride. On the other hand, because several
different agencies are intricately involved in a single project, it is difficult to organize such a
project and properly allocate costs and profits to each agency. Thus, in this thesis, I will
research joint development at rail stations focusing on development process, financial structure,
physical planning, and management, make clear similarities and differences, and consider
applicability. A review of definitions and past studies on joint development will be presented,
followed by the objectives of this thesis, in this chapter.
Definition of joint development
There are several definitions of joint development given by organizations and individual
researchers. In 1979, the Research Division of the Urban Land Institute, a non-profit
organization of practitioners in city planning and real estate businesses defined joint
development as follows:
Joint development is real estate development that is closely
linked to public transportation services and station facilities
and relies to a considerable extent on the market and
locational advantages provided by the transit facility. The real
estate projects may include entrances to transit stations or
involve a less direct form of pedestrian access such as an
underground passageway, surface route, or skyway.
Regardless of the physical structural relationship of the public
and private components, joint development requires close
cooperation and sometimes contractual agreements among the