Sustainable Urban Development
Sustainable urban development integrates urban land use planning, transportation, housing and infrastructure policies to foster investment in pedestrian-accessible transit corridors and efficient housing, and spur economic development. With a focus on reducing greenhouse gas emissions by cutting growth in vehicle travel, transit-oriented development has been shown to boost the bottom line for businesses, increase property values, cut fuel costs, create jobs and improve public health.
Nationally Appropriate Mitigation Actions
As part of the MAIN program, CCAP has begun working with Colombian officials to develop nationally appropriate mitigation actions (NAMAs) that target sustainable urban development. These pilot projects would include a national program to build capacity, and plan, finance and implement transit-oriented development. CCAP would help create a framework that utilizes public-private implementation agreement between public and private investors. The NAMA would establish institutional and financial structures to support additional transit-oriented development projects and policies throughout Colombia.
Private investors especially are looking for investments that offer the right balance of risk and return. The sustainable urban development NAMA takes a two-pronged approach to achieving this goal. First, by directly addressing financial and institutional barriers to investment in transit-oriented development, it reduces the real and perceived risks. Second, by coupling long-range plans and a supportive regulatory framework that generates new public revenue streams, the NAMA signifies the stability of financing and policy, providing assurance that transit-oriented development markets will endure and generate sustained profitability.