BAKU, Azerbaijan, May 21. Housing in areas where the Transit-Oriented Development (TOD) approach is used sells one and a half to two times faster, founder and managing partner of the Kazakh STEP City company, Alina Bisembaeva, said at an event on "Transit-oriented planning for new development" within the framework of WUF13, Trend reports.
According to her, the fundamental logic and key principle of the TOD approach is that cities and new territories are formed around transportation infrastructure.
"These projects are based on a major transportation hub, a railway station, or another significant point of attraction for traffic flows and public transportation. Moreover, this isn't just about constructing residential buildings. A full-fledged public space is being created: densely populated residential neighborhoods, commercial areas, and green spaces. Essentially, this becomes an independent urban environment," Bisembaeva said.
She noted that well-organized traffic frees up more space for pedestrian areas and convenient transfers, which, in turn, contributes to the creation of a better public environment.
"Near residential developments located near transit hubs within TOD schemes, housing sells 1.5 to 2 times faster than in areas without such infrastructure. Furthermore, construction costs are 5-10% lower due to the elimination of the need for large parking spaces. At the same time, the value of such housing is typically 5-15% higher due to the availability of high-quality public transportation nearby," Bisembaeva added.
Today marks the fifth day of WUF13 in Baku.
The first day included a ministerial meeting dedicated to the New Urban Agenda, a ministerial roundtable, assemblies for women and civil society, business sessions, and discussions on urban prosperity. An official ceremony marking the raising of the UN and Azerbaijani flags also took place.
The second day stood out for the inaugural Leaders' Summit, featuring high-level discussions on the global housing crisis, urbanization policy, and urban resilience. Concurrently, the opening of the Mexico City pavilion took place, serving as a significant platform for expanding cooperation with the Latin American region and preparing for WUF14.
The third day of WUF13 featured a comprehensive program of events covering the global housing crisis, the formation of safe and inclusive cities, climate resilience, artificial intelligence and urban governance, green urbanization, social equity, and sustainable transport.
One of the highlights of the third day was the signing of a sister-city memorandum between the Azerbaijani city of Shusha and the Turkish city of Trabzon.
The fourth day of WUF13 featured a broad program of events dedicated to urbanization, climate change, inclusive urban development, housing policy, and sustainable governance.
One of the important events of the UN Special Program for the Economies of Central Asia (SPECA) Cities Forum, held on the fourth day, was the announcement of Almaty’s official accession to the “Declaration of Intent on the Establishment of the SPECA Smart Climate-Resilient Cities Forum.”
Also, for the first time in WUF history and at Azerbaijan’s initiative, the “WUF13 NGO Forum: Global Partnership and Decision-Making” was held.
WUF13, which has attracted more than 40,000 registered participants from 182 countries, will continue until May 22. Held under the theme “Housing the world: Safe and resilient cities and communities,” the forum brings together governments, international organizations, experts, and representatives of civil society to strengthen global cooperation in the field of sustainable urban development.
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