Image courtesy of Corridors of Opportunity Team.
Do you work in the Central Corridor? Are you looking for a new home? Consider living along the Green Line!
Do you work at a Green Line institution? Are you looking to relocate? Whether you’re renting or buying, living and working close to transit – and especially light rail – can have huge benefits for your wallet and your health.
Many Twin Cities households spend more on transportation than housing, and by forgoing driving in order to take transit, households can save thousands of dollars each year. A study by the American Public Transportation Association found that the average household without a car saves $9,200 on transportation costs each year, and here in the Cities the savings may be even greater. According to a comparison done by the Corridors of Opportunity Affordable Housing/Transit-Oriented Development Implementation Team of the average cost of living in the suburbs with that of living in the Central Corridor, a household of four could save more than $10,000 on transportation by making the move to a home near the Green Line.
While these savings are remarkable, the cost of living within the city can be a major concern, particularly for lower-income families. Accordingly, there is a high demand for affordable multi-family housing in the Central Corridor, and Plymouth-based developer Dominium plans to help fulfill that need. During spring 2017, they will begin construction of a $60 million, 216-unit affordable apartment complex located a short walk from the Raymond Avenue Green Line station.
In addition to this new workforce housing project, the Carleton Artist Lofts are located adjacent to the Raymond Avenue station and rented at affordable rates. Both developments are part of the Big Picture Project, a public-private partnership which aims to increase the number of affordable housing units built and maintained along the Green Line.
The financial benefits of living and working along the Green Line are impressive, but the perks don’t end there: choosing transit over driving also has a number of health benefits. Adults who take transit are more likely to achieve daily physical activity goals, resulting in a number of health improvements. They are less likely to experience health issues such as obesity, heart disease, and high blood pressure; enjoy better mental health; and are more likely to achieve the amount of daily activity recommended for obtaining these benefits.
For these reasons and more, making the choice to live and work near the Green Line can save you money, improve your health, and positively impact your overall well-being.