Transit is trendy, and there is a growing demand for real estate development close to transit, said Jennifer L. Dorn, a federal transportation official who addressed Realtors during a presentation at the National Association of Realtors annual conference in Orlando, Fla. "Transit is really in a building boom," said Dorn, administrator for the Federal Transit Administration, a U.S. Department of Transportation agency that has an annual budget of about $7 billion. "Transit-oriented development has the potential to become an unprecedented catalyst for community growth." Dorn spoke during a legislative and political issues forum at the association's conference. U.S. Rep. Earl Blumenauer, D-Ore., a longtime advocate of transit-oriented development, also spoke at the forum. An estimated 14.6 million new households may be looking for housing within a half-mile radius of fixed-guideway transit stations by 2025, compared with about 6 million households in 2000, according to a study on transit-...
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