Transit-Oriented Communities Financial Gap Analysis
SB Friedman evaluated the financial viability of prototypical development in Transit-Oriented Communities (TOCs) across Salt Lake County, identifying the policy levers and funding tools needed to spur development.
Salt Lake County
Financial Feasibility Analysis
Salt Lake County, UT
The Wasatch Front Regional Council's Wasatch Choice 2050 framework promotes dense, walkable mixed-use development adjacent to transit throughout the region. However, development in TOCs has consistently required significant public investment. Salt Lake County engaged SB Friedman to evaluate the financial feasibility of prototypical mixed-use development across three TOC typologies, identify the drivers of financial gaps, and recommend policies and financing solutions to reduce those gaps in future development proposals.
Work Completed
Evaluated the TOC typology framework and potential future development sites to build prototypical development programs
Utilized industry data, market research and developer interviews to prepare stabilized prototypical development pro formas and a financial gap analysis model
Tested sensitivities, including parking ratios, affordable unit requirements and density, to evaluate the impact of policy decisions on financial returns
Identified alternative funding mechanisms available to the County
Results
SB Friedman delivered a summary of prototypical development programs, financial returns, sensitivity analysis findings, and alternative funding mechanisms to the County in July 2023. The analysis is being used to evaluate policy levers, program modifications and funding mechanisms to promote TOC development throughout Salt Lake County.
