Development Opportunities

VTA has an extensive portfolio of real estate assets located throughout Santa Clara County. In order to provide appropriate stewardship of such assets, the VTA Board of Directors adopted a revised Joint Development Policy and Implementation Plan in April 2009. The goals of the Joint Development Policy, in priority order, are to: 1) generate revenue; 2) to carry out transit-oriented development; and 3) to increase ridership on VTA's transit multi-modal transit system.

The revised Joint Development Policy provides the appropriate framework to maximize the respective economic values of each real estate asset through consensus-driven, site-appropriate development that also increases transit ridership, creates vibrant community assets and enhances the long-term life of VTA’s facilities. In accordance with the revised policy framework, VTA's Joint Development Group ascertains which assets are suitable for development and provides the necessary groundwork and resources to engage in public/private partnerships.

Real Estate Inventory & Joint Development Portfolio

A comprehensive evaluation of VTA's real estate assets is performed to ascertain the assets most suitable for development and leasing. A myriad of factors are considered, including objective elements such as physical size and constraints of the assets, quantitative considerations related to the properties’ economic values, and qualitative considerations such as local jurisdictional policy goals and land use requirements. The inventory of real estate assets will be evaluated periodically as significant information is made available to any identified asset or as new assets are acquired.

VTA's Real Estate Inventory has been approved by the Board of Directors. All assets within the Real Estate Inventory will be considered for development and leasing opportunities.

Joint Development Portfolio

Joint Development Priority Schedule

The Joint Development Portfolio is also evaluated in order to prioritize the joint development assets with the most near term development potential and to ascertain those select sites which necessitate near term value add investment to be made to them by VTA. This subset of the Joint Development Portfolio is referred to as the Priority Schedule, and the primary intention of the Priority Schedule is to target VTA’s limited resources toward those assets which have greater certainty and capacity to generate revenue as well as meet the other goals of the Joint Development Policy. VTA’s real estate holdings are extensive and a focused plan of action for the implementation of VTA’s Joint Development Program is necessary to reach success. Moreover, many of VTA’s real estate assets have complex operational and site constraints and involve multiple stakeholders and cannot all be developed at the same time or without concerted efforts at the organizational level. VTA staff may only initiate formal contractual negotiations for Joint Development assets on the Priority Schedule unless an amendment to the Priority Schedule is approved by the Board of Directors.

In November of 2009, VTA's Board of Directors approved a Priority Schedule for VTA's Real Estate Inventory.

Joint Development Priority Schedule

Please direct all Development and Leasing inquiries to VTA Real Estate at (408)321-5777 or real.estate@vta.org.