European Bank for Reconstruction and Development
Commissioned by the European Bank for Reconstruction and Development (EBRD) and Ankara Metropolitan Municipality, HR&A led Türkiye’s first LVC study — a landmark assessment that built the legal, regulatory, and financial case for land-based transit financing along Ankara’s planned metro lines and established a replicable model for metropolitan municipalities across the country.
Ankara’s planned metro expansion presented a timely opportunity to test whether land-based financing instruments could reduce the City’s dependence on central government transfers and unlock new revenue streams for urban rail investment. Serving as project manager and technical lead in collaboration with Turkish social innovation nonprofit Needs Map, HR&A assessed the legal, regulatory, institutional, and financial frameworks governing LVC in Türkiye; surveyed international case studies and best practices; and developed a strategic model of how urban rail investment shapes surrounding real estate values. From that foundation, we identified two to four pilot sites along planned metro lines and modeled LVC revenue scenarios at each, giving AMM a concrete starting point for implementation.
The resulting action plan translated the analysis into sequenced steps for deploying land-based financing instruments at scale. As the first LVC study conducted in Türkiye, the engagement established a national reference point — demonstrating how metropolitan municipalities across the country could leverage transit investment to generate new revenue streams and reduce dependence on central government transfers to sustain and expand urban rail networks.
