Skip to Content
Streetsblog New York City home
Streetsblog New York City home
Log In
Streetsblog

Leinberger: Infrastructure Bank the Right Prescription for Ailing Economy

Between the punditry and horse race tracking that pass for modern reporting, we haven't seen much thoughtful analysis of what effects President Obama's $50 billion infrastructure plan might have on the anemic economy.

false

While specifics of the proposal are still forthcoming, land use expert Christopher Leinberger of the Brookings Institution says a national infrastructure bank could be exactly the sort of fix we've been seeking. Writing at The Avenue, Leinberger argues that a combining public and private financing can help the country modernize its infrastructure and channel investment to support walkable development:

Today, there is huge pent-up demand for higher density development in human-scaled urban places. These places have price premiums that are 40 percent to 200 percent higher than the auto-oriented suburban development--the kind of development that has driven the economy into its Great Recession ditch. Transportation investment in repairing existing road networks, building new and repairing existing rail and bus transit, bike trails, and walking infrastructure will encourage the walkable urban development the market is demanding.

These investments will be leveraged with private dollars which should multiply the impact of the proposed $50 billion of public investment by a factor of three to five times. The private money will help insure the investment is smart--private investors are looking for a financial payback, not a political payback. The risk will be spread and private investors will insure it is prudent.

The built environment (real estate and infrastructure) is over 35 percent of the assets our economy deploys, the largest asset class by far. That asset class is on the sidelines because we have overbuilt the drivable suburban fringe of our metropolitan areas.

Because of its market orientation and potentially high rate of return, Leinberger calls the infrastructure bank "fiscally conservative." That's a message you aren't likely to hear from the cable networks over the coming months.

More highlights from the Network: Bike Portland considers Santa Rosa, California's new "Cyclisk," a 60-foot tall sculpture made out of recycled bikes. The Transport Politic parses the decision facing Vancouver -- expand Skytrain into a growing suburban region or continue its commitment to the urban core? And Circle & Squares Studio imagines the impact light rail might have on the city of Indianapolis.

Stay in touch

Sign up for our free newsletter

More from Streetsblog New York City

‘Bean-Counting Street Safety’: Advocates Blast Gale Brewer’s Daylighting Flip-Flop

The Upper West Side pol's inconsistent safety record is getting a second look from activists who once supported her.

October 2, 2025

There’s Good Science Behind the Human Craving for Livable Streets

It's time to understand the science of pedestrian-friendly cities. Or, why streets should be designed like gardens.

October 2, 2025

Thursday’s Headlines: Mourning Becomes Enforcement Edition

Why were cops ticketing cyclists at the very intersection where a bike rider was killed by a driver on Saturday? Plus other news.

October 2, 2025

Trump Culture War Tantrum Turns to Gateway Tunnel and Second Ave. Subway

It's the second time the Trump administration has denied New York transit funding in as many days.

October 1, 2025

West Side Pols Call on Trump Administration to Stop Illegally Blocking 10th Ave. Bike Lane

The DEA blockade of the 10th Avenue bike lane continues, and local politicians are demanding the federal agency stop denying cyclists safety.

October 1, 2025

When the DOT Takes Your Bike: A Cyclist’s Guide to Getting It Back 

A bike commuter's frustrating journey through New York's bureaucratic maze reveals a hidden problem affecting cyclists citywide. 

October 1, 2025
See all posts