From the Southwest Transitway Draft EIS (page 5-18) in regard to the Nicollet/11th & 12th street alignments and their consistency with land use plans:
The area along Segment C-1 is already developed as TOD due to high frequency transit service. Implementation of LRT and the accompanying reduction in bus service may reduce TOD development potential which is inconsistent with regional and local plans.
So reduced bus service, even with the addition of LRT, means less development potential. Nobody tell the Met Council. Here is what the Central Corridor EIS has to say about TOD near LRT stations:
Experience across the country has shown, that implementation of fixed guideway transit can catalyze economic development activities at station locations.
According to a report cited by the Native American Community Development Institute, Quick Facts Supporting the Development of an American Indian Cultural and Economic Corridor, property values along the Hiawatha LRT Corridor are increasing 22 percent more than property values overall across the City of Minneapolis. The report went on to say that by 2020 more than 19 million square feet of new commercial space and up to 68,000 new jobs would be attracted to the Hiawatha LRT Corridor.
It seems to me future political leaders could regret this document stating that new rail transit infrastructure reduces development potential. Just saying. So is LRT on Nicollet inconsistent with the Access Minneapolis plan, like the DEIS says? Not according to, you know, the actual plan document.
A sharp-eyed reader points me to the Transitway Impacts Research Program, sponsored by Hennepin County, which features all kinds of interesting academic research on the effects light rail has on property values, access to jobs, and perception of transit.