CapMetro has received a $900,000 grant from the Federal Transit Administration (FTA) to enhance transit-oriented development and anti-displacement initiatives for Project Connect in Austin, Texas. The initial program of projects for Project Connect is projected to cost $7.1 billion, with $300 million allocated specifically for anti-displacement efforts. This recent grant will bolster these efforts and expand equity initiatives.
It is anticipated that nearly half of the project costs will be covered by federal grants and commitments. "The FTA Pilot Program for Transit-Oriented Development Planning grant award comes only one month after Austinites made a historic decision to fund Project Connect," noted CapMetro officials, highlighting this as the first instance of expected federal support for the program.
CapMetro is collaborating with the city of Austin to implement Project Connect. While the city will lead anti-displacement efforts, this grant underscores how effective partnerships can leverage federal funds to augment local investments in anti-displacement strategies.
The grant funds are earmarked for studying the North Lamar/Guadalupe/Riverside Fixed Guideway Corridor, a 12-mile light rail segment encompassing both Orange and Blue lines. This corridor presents numerous development hubs and placemaking opportunities. The study aims to produce recommendations for context-sensitive anti-displacement strategies and affordable housing projects along this route.
Plans are underway for CapMetro to advance the proposed Orange and Blue Lines into preliminary engineering under the National Environmental Policy Act (NEPA) review in early 2021. This federally mandated review assesses environmental as well as social and economic impacts of projects. The grant will aid in providing additional planning resources, financial analysis, and regulatory tools related to NEPA and local land use policies.
CapMetro will oversee the study with technical assistance from the city of Austin. As part of its commitment, CapMetro will also provide a $250,000 funding match as the local financial sponsor of this corridor study.