Public tranport is more convenient and efficient. A big bus can take many people. The passengers have the comfort of being driven to their destination. The buses can move around to carry passengers all the time.
Private cars are costly and congest the roads. They require parking spaces when they are not being used.
In many cities, due to inadequate attention to public transport, many people opted to buy a private car. More roads have to be built and they still get too congested. The parking spaces are insufficient. Life is inconvenient for everyone.
We need a bold approach. We have to make public transport more convenient and more comfortable. There should be sufficient buses and trains to offer shorter waiting times and a comfortable ride, including a seat.
To the country, there is more cost saving if more people take public transport.
Can our transport authority in Singapore take a bold step? Can we increase the capacity of our buses and trains two or three times (by more buses and trains operating at shorter intervals)? Can we offer a better choice for people to take public transport? Can we have convenient feeder services to support our trains and express buses?
People take planes for long distance travel. They can opt for first or businss class. They do not need to fly a private plane. We should offer this type of choice for our public transport as well.
Thursday, October 18, 2007
New concept in town planning
I have a new concept in town planning.
Each town comprise of 100,000 residents. It has the facilities, such as a schools, malls, medical facilities, restaurants, services, offices and workplaces.
Several clubs are available in the town. You can join a club to enjoy its sporting and social activies. You get to make more friends and get to know your neighbours.
The unique feature is that all transport within the town will be by elevated light rail transport. Adequate trains are provided, so that the waiting time is less. There are no internal roads. Private cars are not allowed.
People can work or cycle at ground levels, and sheltered. They can move by travelletors. Bicylces belong to the town and can be rented for hourly use.
The internal transport will take the residents to the MRT stations, bus terminus or car parks that are located at the fringe of the towns. Some people do not need to own cars, as they can rent a car for a day.
This concept allows a higher density of development. It may be possible to have 50% more usage of the land.
It can support a good quality of life. Children can move around the town, without the fear of being knocked down by traffic. They can study in a nearby school in the town.
The entire town is a real estate investment trust (REIT). Each resident owns units of the REIT and has the prioirty to rent an apartment at its market rate. The dividend from the REIT can be used to offset the rental.
If the owner wants to work in another town, it is easy to rent an apartment in that town, and reinvest in that REIT. They do not have to incur a high cost of selling an indivual property. It gives flexibility for people to change jobs and make a new life, with new friends, in another town.
This concept will encourage more people to work in their town. It will reduce traffic congestion on the main roads in Singapore that connect the various towns.
I hope to get more people to like this idea. It may be suitable for Singapore, due to our limited land.
Each town comprise of 100,000 residents. It has the facilities, such as a schools, malls, medical facilities, restaurants, services, offices and workplaces.
Several clubs are available in the town. You can join a club to enjoy its sporting and social activies. You get to make more friends and get to know your neighbours.
The unique feature is that all transport within the town will be by elevated light rail transport. Adequate trains are provided, so that the waiting time is less. There are no internal roads. Private cars are not allowed.
People can work or cycle at ground levels, and sheltered. They can move by travelletors. Bicylces belong to the town and can be rented for hourly use.
The internal transport will take the residents to the MRT stations, bus terminus or car parks that are located at the fringe of the towns. Some people do not need to own cars, as they can rent a car for a day.
This concept allows a higher density of development. It may be possible to have 50% more usage of the land.
It can support a good quality of life. Children can move around the town, without the fear of being knocked down by traffic. They can study in a nearby school in the town.
The entire town is a real estate investment trust (REIT). Each resident owns units of the REIT and has the prioirty to rent an apartment at its market rate. The dividend from the REIT can be used to offset the rental.
If the owner wants to work in another town, it is easy to rent an apartment in that town, and reinvest in that REIT. They do not have to incur a high cost of selling an indivual property. It gives flexibility for people to change jobs and make a new life, with new friends, in another town.
This concept will encourage more people to work in their town. It will reduce traffic congestion on the main roads in Singapore that connect the various towns.
I hope to get more people to like this idea. It may be suitable for Singapore, due to our limited land.
Adequate cover for critical illness
Someone argued against my suggetion to insure $50,000 for critical illness. He said that the correct cover should be determined by a financial needs analysis.
In my view, $50,000 in critical illness coverage is adequate for most poeple.
Most illnesses do not cost a lot of money to treat, especially if they have access to subsidised wards in Singapore.
If they need more than $50,000, they can draw down on your savings from other sources. They should invest a large portion of their savings in more productive assets, and not over-commit all their savings in a low return, critical illness cover.
If a financial adviser tell you that you need more than $100,000 for critical illness coverage, you should ask the following questions:
1. What percentage of people make a critical illness claim?
2. What is the average cost of treating the critical illness? (Do not allow them quote you an isolated case that occurs once in 20 years)?
3. How much commission do they earn by selling a big critical illness policy to you?
In my view, $50,000 in critical illness coverage is adequate for most poeple.
Most illnesses do not cost a lot of money to treat, especially if they have access to subsidised wards in Singapore.
If they need more than $50,000, they can draw down on your savings from other sources. They should invest a large portion of their savings in more productive assets, and not over-commit all their savings in a low return, critical illness cover.
If a financial adviser tell you that you need more than $100,000 for critical illness coverage, you should ask the following questions:
1. What percentage of people make a critical illness claim?
2. What is the average cost of treating the critical illness? (Do not allow them quote you an isolated case that occurs once in 20 years)?
3. How much commission do they earn by selling a big critical illness policy to you?
Can legal issues be simplified?
My friend told me that his son graduated with a law degree. He decided not to practice law, as many lawyers had to work long hours into the late night.
Why is it necessary?
Lawyers spend countless hours producing bundles of legal documents that are hardly needed. The chance of a dispute is small.
Even so, when there is a legal dispute, they produce even more bundles of documents that take a lot of time for the court and the parties to deal with. The issues are made more complicated than really necessary.
Why? Lawyers are paid by the time that they spent. If they spend more time to produce more documents, they can send a larger bill.
I hope that, in today's age, it is possible for the legal practice to be made more sensible. Many issues can be simplified and dealt with more expeditiously.
Why is it necessary?
Lawyers spend countless hours producing bundles of legal documents that are hardly needed. The chance of a dispute is small.
Even so, when there is a legal dispute, they produce even more bundles of documents that take a lot of time for the court and the parties to deal with. The issues are made more complicated than really necessary.
Why? Lawyers are paid by the time that they spent. If they spend more time to produce more documents, they can send a larger bill.
I hope that, in today's age, it is possible for the legal practice to be made more sensible. Many issues can be simplified and dealt with more expeditiously.
Wednesday, October 17, 2007
Nearly 50 years ago
This is a photograph of my primary 4 class, nearly 50 years ago. I am grateful to my teacher, Henry Phang, who kept this photograph.
I was surprised to see that none of the students in my class wore spectacles in those days. Actually, I was already short sighted at that age. Today, many children wear spectacles at a much younger age.
For those who know me, can you guess where I was in that picture?
Disability income insurance
Hi Mr Tan,
I've indeed learnt a lot about financial planning via your blog. Thank you very much for your valuable advice to all the readers.
Is it advisable to have critical illness coverage against the 30 major illness or is it more important to buy disability income insurance?
REPLY
Unfortunately, most insurers do not provide disabilty income insurance on competitive terms.
So, you should buy a critical illness cover. I think that $50,000 is sufficient. The insurance agent will try to get you to buy more, especially a whole life policy.
Try to ask them to give you a critical illness policy that stops at 60. Beyond 60, you have sufficient savings (by saving through an investment fund, to take care of your medical needs.
Read the FAQ in my website, www.tankinlian.com/faq
I've indeed learnt a lot about financial planning via your blog. Thank you very much for your valuable advice to all the readers.
Is it advisable to have critical illness coverage against the 30 major illness or is it more important to buy disability income insurance?
REPLY
Unfortunately, most insurers do not provide disabilty income insurance on competitive terms.
So, you should buy a critical illness cover. I think that $50,000 is sufficient. The insurance agent will try to get you to buy more, especially a whole life policy.
Try to ask them to give you a critical illness policy that stops at 60. Beyond 60, you have sufficient savings (by saving through an investment fund, to take care of your medical needs.
Read the FAQ in my website, www.tankinlian.com/faq
Life in China, Singapore and America
MESSAGE FROM A CHINA STUDENT STUDYING IN AMERICA
The life here is pretty different with China or Singapore. I do enjoy the life here, but I do not like some aspect of the American style life.
Most Americans will drive even there is only five minutes walk. They use dryer to dry clothes instead of natural sunlight, even in New Mexico, where there are strong sunlight in 360 days a year!
They drive instead of walking, use washer instead of washing clothes by hands, but they pay a lot of money to go to the gym!
They also eat too much and consume too much energy. I read from somewhere that the energy consumed by an American is 7 times of an Asian.
If you do not have a car, your life will be hard here. You even can not go to supermarket to buy groceries! The public transportation is very poor and the distance from one place to another is very far. It is very different from what I used to in China.
In many aspects, Singapore is more advanced than the States. Most of the system in Singapore is always very simple and user friendly.
In America, it is not always the case, but still much better than China. About the life style, the Singaporean style is also more economic efficient and environmental friendly.
I think the MRT in Singapore may be the best in the world. Singapore is like a small lab and many smart people are trying smart ideas there. I may go back to Singapore after I work 3-5 years in the States.
All the best!
The life here is pretty different with China or Singapore. I do enjoy the life here, but I do not like some aspect of the American style life.
Most Americans will drive even there is only five minutes walk. They use dryer to dry clothes instead of natural sunlight, even in New Mexico, where there are strong sunlight in 360 days a year!
They drive instead of walking, use washer instead of washing clothes by hands, but they pay a lot of money to go to the gym!
They also eat too much and consume too much energy. I read from somewhere that the energy consumed by an American is 7 times of an Asian.
If you do not have a car, your life will be hard here. You even can not go to supermarket to buy groceries! The public transportation is very poor and the distance from one place to another is very far. It is very different from what I used to in China.
In many aspects, Singapore is more advanced than the States. Most of the system in Singapore is always very simple and user friendly.
In America, it is not always the case, but still much better than China. About the life style, the Singaporean style is also more economic efficient and environmental friendly.
I think the MRT in Singapore may be the best in the world. Singapore is like a small lab and many smart people are trying smart ideas there. I may go back to Singapore after I work 3-5 years in the States.
All the best!
About Money
Dear Kin Lian
1. With Money you can buy a house but not a home.
2. With Money you can buy a clock, but not time.
3. With Money you can buy a bed but not sleep.
4. With Money you can buy a book but not knowledge.
5. With Money you can see a doctor but not good health.
6. With Money you can buy a position but not respect.
7. With Money you can buy blood but not life.
8. With Money you can buy sex but not love.
I am sending you good wishes for good luck which money cannot buy.
Lee Kum Tatt
MY REPLY
I am spreading your good luck to all the visitors of my blog.
1. With Money you can buy a house but not a home.
2. With Money you can buy a clock, but not time.
3. With Money you can buy a bed but not sleep.
4. With Money you can buy a book but not knowledge.
5. With Money you can see a doctor but not good health.
6. With Money you can buy a position but not respect.
7. With Money you can buy blood but not life.
8. With Money you can buy sex but not love.
I am sending you good wishes for good luck which money cannot buy.
Lee Kum Tatt
MY REPLY
I am spreading your good luck to all the visitors of my blog.
Convert from Medishield to Incomeshield
Questions:
I am considering whether to upgrade from Medishield to NTUC Enhanced shield. If I were to buy the enhanced shield and it excludes some pre-existing illness which are presently covered by Medishield, will the expenses incurred from these illness still be covered by Medishield even after the upgrading?
MY REPLY:
I suggest that you should ask this question to the management of NTUC Income. They will be able to give you an answer. I cannot give you an answer, as it does not carry the authority.
I am considering whether to upgrade from Medishield to NTUC Enhanced shield. If I were to buy the enhanced shield and it excludes some pre-existing illness which are presently covered by Medishield, will the expenses incurred from these illness still be covered by Medishield even after the upgrading?
MY REPLY:
I suggest that you should ask this question to the management of NTUC Income. They will be able to give you an answer. I cannot give you an answer, as it does not carry the authority.
Investing tips for a young person
Dear Mr Tan,
I attended your talk organised by the Teacher's Co-Operative Society. You mentioned that its best for young investors to invest in equities. How do I go about it?
MY REPLY
I hope that these FAQs will give you the answers:
http://www.tankinlian.com/faq/fptips.html
http://www.tankinlian.com/faq/august.html
http://www.tankinlian.com/faq/returns.html
There is some concern that the stockmarkets may be too high now. If you are investing a monthly sum, it is all right to get invested at any time.
However, if you are investing a lump sum, it may be better to avoid investing in equities at this time. You can choose a balanced fund or in the money market.
I suggest that you talk to an adviser. Or call the business center in NTUC Income.
I attended your talk organised by the Teacher's Co-Operative Society. You mentioned that its best for young investors to invest in equities. How do I go about it?
MY REPLY
I hope that these FAQs will give you the answers:
http://www.tankinlian.com/faq/fptips.html
http://www.tankinlian.com/faq/august.html
http://www.tankinlian.com/faq/returns.html
There is some concern that the stockmarkets may be too high now. If you are investing a monthly sum, it is all right to get invested at any time.
However, if you are investing a lump sum, it may be better to avoid investing in equities at this time. You can choose a balanced fund or in the money market.
I suggest that you talk to an adviser. Or call the business center in NTUC Income.
Personal Rapid Transport - for the future
Dear Mr Tan,
I read your description of the personal rapid transport. Are there any examples of personal rapid transport that is successful in other countries?
MY REPLY:
From the examples quoted in Wikipedia, it seems that the closest to personal rapid transport is used in airports. London Heathrow is introducing this system soon.
The nearest example in Singapore is the sky train at Changi Airport. It is still a public transport, rather than a personal transport. However, it has some elements of the personal system. For example, the same train serves two sections of each terminal, i.e. before and after immigration.
If you take the train before immigration at one terminal, it brings you to the section before immigration in the other terminal. If you take it after immigration, it brings you to the section after immigration. Hence, the sky train is intelligent.
This intelligence can be incorporated in a future, large scale transport system. By entering the destination, the personal vehicle should be able to take you to the destination using the best route (avoiding congestion) and safely.
I read your description of the personal rapid transport. Are there any examples of personal rapid transport that is successful in other countries?
MY REPLY:
From the examples quoted in Wikipedia, it seems that the closest to personal rapid transport is used in airports. London Heathrow is introducing this system soon.
The nearest example in Singapore is the sky train at Changi Airport. It is still a public transport, rather than a personal transport. However, it has some elements of the personal system. For example, the same train serves two sections of each terminal, i.e. before and after immigration.
If you take the train before immigration at one terminal, it brings you to the section before immigration in the other terminal. If you take it after immigration, it brings you to the section after immigration. Hence, the sky train is intelligent.
This intelligence can be incorporated in a future, large scale transport system. By entering the destination, the personal vehicle should be able to take you to the destination using the best route (avoiding congestion) and safely.
Tuesday, October 16, 2007
Investing in an residential REIT
Mr Tan
I refer to your posting about a new concept in town planning. Can you explain the difference between investing in a residential REIT and an individual property? Most people like to invest directly in a specific property.
MY REPLY:
If you own a property and you wish to sell it, you have to incur the legal and agent's fees. This can take up to 4 percent of the total selling price. The selling price depends on the condition of your property, its facing, floor level and other factors. You also have to deal with the agent and the buyer.
If you invest in a REIT that owns a pool of properties, you enjoy the pooling of all the investments. The properties are professionally managed. For example, you may own 1% of a pool of 100 apartments. This is better than owning 1 specific property. You can even rent an apartment from the REIT at its market rental.
The cost of selling an investment in a REIT is less than 0.5%, compared to 4% for selling a property. I hope that the concept of a residential REIT will be more popular in the future.
I refer to your posting about a new concept in town planning. Can you explain the difference between investing in a residential REIT and an individual property? Most people like to invest directly in a specific property.
MY REPLY:
If you own a property and you wish to sell it, you have to incur the legal and agent's fees. This can take up to 4 percent of the total selling price. The selling price depends on the condition of your property, its facing, floor level and other factors. You also have to deal with the agent and the buyer.
If you invest in a REIT that owns a pool of properties, you enjoy the pooling of all the investments. The properties are professionally managed. For example, you may own 1% of a pool of 100 apartments. This is better than owning 1 specific property. You can even rent an apartment from the REIT at its market rental.
The cost of selling an investment in a REIT is less than 0.5%, compared to 4% for selling a property. I hope that the concept of a residential REIT will be more popular in the future.
Personal Rapid Transit - better than taxi
I have described the Personal Rapid Transit system. Someone observed that it is like calling a taxi. Why build this system, when we can use taxis?
The PRT system operates like a taxi. You can book for a vehicle to come to your place, and ask for it to take you to your destination. You do not have to drive or park.
Here are the advantages of PRT, compared to taxis:
1. No need for taxi drivers - no shortage problem. No need to pay surcharges to get drivers to work during peak period.
2. The computerised system knows how to get the destination (and some taxi drivers don't know)
3. No traffic congestion - i.e. no crowding of private cars
4. Greater reliabiilty. If no vehicle is available, the computer system will notify you immediately.
I hope that Singapore will experiment with this PRT system, especially in the new town.
The PRT system operates like a taxi. You can book for a vehicle to come to your place, and ask for it to take you to your destination. You do not have to drive or park.
Here are the advantages of PRT, compared to taxis:
1. No need for taxi drivers - no shortage problem. No need to pay surcharges to get drivers to work during peak period.
2. The computerised system knows how to get the destination (and some taxi drivers don't know)
3. No traffic congestion - i.e. no crowding of private cars
4. Greater reliabiilty. If no vehicle is available, the computer system will notify you immediately.
I hope that Singapore will experiment with this PRT system, especially in the new town.
Monday, October 15, 2007
How to invest $100,000
Dear Mr Tan
My friend has $100,000 in his CPF account. He intends to put $60k in his CPF account and the remaining $40k in avivadirect which promises to give 3.5% every year.
Is this the best alternative? Also is Aviva Direct really so good that it does not have any hidden admin charges,no lock up period and other charges? Appreciate your feedback please.
REPLY:
That is a wonderful idea. I would have done the same, if I were in your friend's position.
My friend has $100,000 in his CPF account. He intends to put $60k in his CPF account and the remaining $40k in avivadirect which promises to give 3.5% every year.
Is this the best alternative? Also is Aviva Direct really so good that it does not have any hidden admin charges,no lock up period and other charges? Appreciate your feedback please.
REPLY:
That is a wonderful idea. I would have done the same, if I were in your friend's position.
Legal fee paid to Jonathan Lock
Dear Mr Tan
NTUC Income paid $40,000 to Jonathan Lock to cover his legal expenses with his lawyer. Mr Lock has now settled with his lawyer for a "nominal" fee of $5,000. Does this mean that Mr Lock can keep the $35,000?
REPLY:
I do not know the condition on which the payment of $40,000 was made. From what I read in the newspapers, I guess Mr Lock is entitled to keep the remaining $35,000. The whole episode turns out to be financially to his advantage. However, he did suffer a lot of anguish during this period.
http://www.straitstimes.com/Video+News/Singapore/STIVodcast_2763.html?playid=2763&type=Top10
http://sg.news.yahoo.com/cna/20071013/tap-305487-231650b.html
NTUC Income paid $40,000 to Jonathan Lock to cover his legal expenses with his lawyer. Mr Lock has now settled with his lawyer for a "nominal" fee of $5,000. Does this mean that Mr Lock can keep the $35,000?
REPLY:
I do not know the condition on which the payment of $40,000 was made. From what I read in the newspapers, I guess Mr Lock is entitled to keep the remaining $35,000. The whole episode turns out to be financially to his advantage. However, he did suffer a lot of anguish during this period.
http://www.straitstimes.com/Video+News/Singapore/STIVodcast_2763.html?playid=2763&type=Top10
http://sg.news.yahoo.com/cna/20071013/tap-305487-231650b.html
Determine liability for an accident
QUESTION:
How can I dispute a case of where I am positive that the other vehicle was speeding. Do insurance company do investigation on the damages to ascertain the speed of the vehicle?
Scenario:
I was filtering left. Signalled, checked side mirror. After the last vehicle passed on the left, the next one is about 40m away (evidently from small headlight). I filtered and the next thing i know the car crashed onto my left wheel and everything around it. I understand that this case is not exactly favourable since I'm the one filtering.
MY REPLY:
The best way is to get an independent witness to testify that the other vehicle was speeding.
In most cases, the fault is determined by the party that caused the impact. If you knock into another car, you are likely to be liable.
For example, if the vehicle in front slowed down suddenly and you knocked into its back, you cannot claim that the accident was caused by that action. You should have kept a safe distance and be ready to stop on time.
How can I dispute a case of where I am positive that the other vehicle was speeding. Do insurance company do investigation on the damages to ascertain the speed of the vehicle?
Scenario:
I was filtering left. Signalled, checked side mirror. After the last vehicle passed on the left, the next one is about 40m away (evidently from small headlight). I filtered and the next thing i know the car crashed onto my left wheel and everything around it. I understand that this case is not exactly favourable since I'm the one filtering.
MY REPLY:
The best way is to get an independent witness to testify that the other vehicle was speeding.
In most cases, the fault is determined by the party that caused the impact. If you knock into another car, you are likely to be liable.
For example, if the vehicle in front slowed down suddenly and you knocked into its back, you cannot claim that the accident was caused by that action. You should have kept a safe distance and be ready to stop on time.
Sunday, October 14, 2007
Personal Rapid Transit
From Wikipedia, the free encyclopedia
Personal rapid transit (PRT), also called personal automated transport (PAT) is a public transportation concept that offers automated on-demand non-stop transportation, on a network of specially-built guideways.
The first public PRT installation, ULTra, is currently under construction at Heathrow Airport in London, and scheduled to open for public use in 2008.
PRT is a system of small vehicles under independent or semi-independent automatic control, running on fixed guideways. The idea attempts to address a number of perceived weaknesses of public mass transit including fixed timetabling, limited routes, and sharing travel space with unrelated travelers.
In 1988, The Advanced Transit Association (ATRA), a group which advocates the use of technological solutions to transit problems, published a definition for PRT as follows:
* Fully automated vehicles capable of operation without human drivers.
* Vehicles use a reserved guideway.
* Small vehicles available for exclusive use by an individual or a small group, typically 1 to 6 passengers, traveling together by choice and available 24 hours a day.
* Small guideways that can be located aboveground, at ground level or underground.
* Vehicles able to use all guideways and stations on a fully coupled PRT network.
* Direct origin to destination service, without a necessity to transfer or stop at intervening stations.
* Service available on demand rather than on fixed schedules.
Proponents say that the low weight of small vehicles has the important benefit of allowing smaller guideways and support structures compared to other mass transit systems like light rail, translating into lower construction cost, smaller easements, and less visually obtrusive infrastructure.
The concept has been independently reinvented many times since the 1960s. It is considered controversial, and the city-wide deployment with many closely-spaced stations envisaged by proponents has yet to be constructed.
Past projects have failed due to lack of financing, cost overruns, regulatory conflicts, political issues and flaws in engineering or design.
From 2002–2005, the EDICT project, sponsored by the European Union, conducted a study on the feasibility of PRT in four European cities. The study involved 12 research organizations, and concluded that PRT:
* Would provide future cities "a highly accessible, user-responsive, environmental friendly transport system which offers a sustainable and economic solution."
* Could "cover its operating costs, and provide a return which could pay for most, if not all, of its capital costs."
* Would provide "a level of service which is superior to that available from conventional public transport"
* Would be "well received by the public, both public transport and car users."
The report also concluded that, despite these advantages, public authorities will not commit to building PRT because of the risks associated with being the first public implementation.
Personal rapid transit (PRT), also called personal automated transport (PAT) is a public transportation concept that offers automated on-demand non-stop transportation, on a network of specially-built guideways.
The first public PRT installation, ULTra, is currently under construction at Heathrow Airport in London, and scheduled to open for public use in 2008.
PRT is a system of small vehicles under independent or semi-independent automatic control, running on fixed guideways. The idea attempts to address a number of perceived weaknesses of public mass transit including fixed timetabling, limited routes, and sharing travel space with unrelated travelers.
In 1988, The Advanced Transit Association (ATRA), a group which advocates the use of technological solutions to transit problems, published a definition for PRT as follows:
* Fully automated vehicles capable of operation without human drivers.
* Vehicles use a reserved guideway.
* Small vehicles available for exclusive use by an individual or a small group, typically 1 to 6 passengers, traveling together by choice and available 24 hours a day.
* Small guideways that can be located aboveground, at ground level or underground.
* Vehicles able to use all guideways and stations on a fully coupled PRT network.
* Direct origin to destination service, without a necessity to transfer or stop at intervening stations.
* Service available on demand rather than on fixed schedules.
Proponents say that the low weight of small vehicles has the important benefit of allowing smaller guideways and support structures compared to other mass transit systems like light rail, translating into lower construction cost, smaller easements, and less visually obtrusive infrastructure.
The concept has been independently reinvented many times since the 1960s. It is considered controversial, and the city-wide deployment with many closely-spaced stations envisaged by proponents has yet to be constructed.
Past projects have failed due to lack of financing, cost overruns, regulatory conflicts, political issues and flaws in engineering or design.
From 2002–2005, the EDICT project, sponsored by the European Union, conducted a study on the feasibility of PRT in four European cities. The study involved 12 research organizations, and concluded that PRT:
* Would provide future cities "a highly accessible, user-responsive, environmental friendly transport system which offers a sustainable and economic solution."
* Could "cover its operating costs, and provide a return which could pay for most, if not all, of its capital costs."
* Would provide "a level of service which is superior to that available from conventional public transport"
* Would be "well received by the public, both public transport and car users."
The report also concluded that, despite these advantages, public authorities will not commit to building PRT because of the risks associated with being the first public implementation.
New Urbanism - a movement
From Wikipedia.
New urbanism is an American urban design movement that arose in the early 1980s. Its goal is to reform all aspects of real estate development and urban planning, from urban retrofits to suburban infill. New urbanist neighborhoods are designed to contain a diverse range of housing and jobs, and to be walkable.
New Urbanism is also is known as traditional neighborhood design, neotraditional design, and transit-oriented development. A more idealistic variant of New Urbanism, founded in 1999 by Michael E. Arth, is known as New Pedestrianism. The ideas of New Urbanism also are embraced by the European Urban Renaissance movement.
The Local Government Commission, a private nonprofit group in Sacramento, California, invited architects Peter Calthorpe, Michael Corbett, Andrés Duany, Elizabeth Moule, Elizabeth Plater-Zyberk, Stefanos Polyzoides, and Daniel Solomon in 1991 to develop a set of community principles for land use planning. Named the Ahwahnee Principles (after Yosemite National Park's Ahwahnee Hotel), the commission presented the principles to about one hundred government officials in the fall of 1991, at its first Yosemite Conference for Local Elected Officials.
Market Street, downtown Celebration, FloridaCalthorpe, Duany, Moule, Plater-Zyberk, Polyzoides, and Solomon founded the Chicago-based Congress for the New Urbanism in 1993. The CNU has grown to more than 2,000 members, and is the leading international organization promoting new urbanist design principles. It held its fifteenth congress in 2007 in Philadelphia, Pennsylvania, which included applying New Urbanist principles to older cities.
The CNU's Charter of the New Urbanism says:
“ We advocate the restructuring of public policy and development practices to support the following principles: neighborhoods should be diverse in use and population; communities should be designed for the pedestrian and transit as well as the car; cities and towns should be shaped by physically defined and universally accessible public spaces and community institutions; urban places should be framed by architecture and landscape design that celebrate local history, climate, ecology, and building practice. ”
New urbanists support regional planning for open space, appropriate architecture and planning, and the balanced development of jobs and housing. They believe their strategies are the best way to reduce traffic congestion, increase the supply of affordable housing, and rein in urban sprawl. The Charter of the New Urbanism also covers issues such as historic preservation, safe streets, green building, and the renovation of brownfield land.
New urbanism is an American urban design movement that arose in the early 1980s. Its goal is to reform all aspects of real estate development and urban planning, from urban retrofits to suburban infill. New urbanist neighborhoods are designed to contain a diverse range of housing and jobs, and to be walkable.
New Urbanism is also is known as traditional neighborhood design, neotraditional design, and transit-oriented development. A more idealistic variant of New Urbanism, founded in 1999 by Michael E. Arth, is known as New Pedestrianism. The ideas of New Urbanism also are embraced by the European Urban Renaissance movement.
The Local Government Commission, a private nonprofit group in Sacramento, California, invited architects Peter Calthorpe, Michael Corbett, Andrés Duany, Elizabeth Moule, Elizabeth Plater-Zyberk, Stefanos Polyzoides, and Daniel Solomon in 1991 to develop a set of community principles for land use planning. Named the Ahwahnee Principles (after Yosemite National Park's Ahwahnee Hotel), the commission presented the principles to about one hundred government officials in the fall of 1991, at its first Yosemite Conference for Local Elected Officials.
Market Street, downtown Celebration, FloridaCalthorpe, Duany, Moule, Plater-Zyberk, Polyzoides, and Solomon founded the Chicago-based Congress for the New Urbanism in 1993. The CNU has grown to more than 2,000 members, and is the leading international organization promoting new urbanist design principles. It held its fifteenth congress in 2007 in Philadelphia, Pennsylvania, which included applying New Urbanist principles to older cities.
The CNU's Charter of the New Urbanism says:
“ We advocate the restructuring of public policy and development practices to support the following principles: neighborhoods should be diverse in use and population; communities should be designed for the pedestrian and transit as well as the car; cities and towns should be shaped by physically defined and universally accessible public spaces and community institutions; urban places should be framed by architecture and landscape design that celebrate local history, climate, ecology, and building practice. ”
New urbanists support regional planning for open space, appropriate architecture and planning, and the balanced development of jobs and housing. They believe their strategies are the best way to reduce traffic congestion, increase the supply of affordable housing, and rein in urban sprawl. The Charter of the New Urbanism also covers issues such as historic preservation, safe streets, green building, and the renovation of brownfield land.
New Urbanism
Here is a comment regarding my blog of a new concept of town planning.
The concept you talked about is very similar to a movement in the early 1980s called "New Urbanism". New Urbanist neighborhoods are designed to contain a diverse range of housing and jobs, and to be walkable.
The main features of New Urbanism include:
1. Walkable. Most of the dwellings are within a five-minute walk of the center, an average of roughly 2,000 feet.
2. Diverse landuse. i.e. housing, offices etc.
3. Traditional "neighbourhood" design.
For more more this concept, read this (http://en.wikipedia.org/wiki/New_Urbanism#Old_and_new_urbanism)
The ideas for "New Urbanism" arose from an earlier movement called the "Garden City Movement" (http://en.wikipedia.org/wiki/Garden_city_movement)
The concept you talked about is very similar to a movement in the early 1980s called "New Urbanism". New Urbanist neighborhoods are designed to contain a diverse range of housing and jobs, and to be walkable.
The main features of New Urbanism include:
1. Walkable. Most of the dwellings are within a five-minute walk of the center, an average of roughly 2,000 feet.
2. Diverse landuse. i.e. housing, offices etc.
3. Traditional "neighbourhood" design.
For more more this concept, read this (http://en.wikipedia.org/wiki/New_Urbanism#Old_and_new_urbanism)
The ideas for "New Urbanism" arose from an earlier movement called the "Garden City Movement" (http://en.wikipedia.org/wiki/Garden_city_movement)
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