Building a subway is the solution to inducing density, not responding to it.
Density goes to number 1 (more traffic = better reason to use the subway) and 2 (more likely to be able to serve people’s desired trip)
Now there are surely people living there who would argue that this zoning has protected the shape and nature of the town they that they prefer, but the flip side of that coin is that, at $1.4m, a median home in Concord costs more than 3x that of the country overall.
Just imagine if the public could capture the (financial) upside it produces, then it could apply that money to do the same thing down the road, then do the same thing again down the road further.
https://en.wikipedia.org/wiki/Henry_George_theorem?wprov=sft...
In fact, the rail plus property model allows the rail operate to better capture their added value, so it applies even in "private" scenarios. The most famous example would be Tokyo.
The goal shouldn't be for the public to be able to reap direct financial benefits from the induced activity around transit hubs, the goal should be to firstly to incentivize and maintain affordable, high quality, sustainable transit, secondly to provide more and better economic opportunities.
There are malls and neighborhoods built entirely around the subway station
https://www.fhwa.dot.gov/ipd/value_capture/defined/tax_incre...
If anything, TIF increases rewards for landowners who do nothing or otherwise underutilize land. Taxing the product of work to make a piece of land beneficial for society is amazingly backwards.
The proper direction to go in is marginal land value tax rates, with increasing penalties the longer a spaces remains unused.
Like through taxes on the sale of the property or the increased business income it produces? The public will.
That just encourages corporate ownership of property (unless you mitigate that), but overall I don’t know why we’d disincentivize moving closer to a new workplace or into a smaller home once it will do for you.
As a silly dystopia, imagine that a transit agency could grab revenue as you suggest it might. Then everything becomes a transit land grab.
A small city in a straight line along the coast is going to get a lot more mileage out of a single line than something spread out across a plain.
Doing it after the fact is much, much harder.
Do we have examples of this working? (Genuine question.)
In the US, I don't know specific examples, but you can definitely use a combination of policies (building public transit, zoning laws to encourage high density, making parts of the city more pedestrian-friendly - and generally less car-friendly) to encourage high density.
https://youtu.be/MnyeRlMsTgI?t=667&si=g-xwXEjLPPobUkzy
There’s photos of subway stops in random fields in china that sometimes get laughs but in actuality china is just smart enough to build the subway and THEN the buildings.
Meanwhile Japanese rail companies own land where they build rail and can make more money on the land than on the trains