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Transit-Oriented Development, known as a form of walkable, mixed-used, location-efficient development with convenient transit service, has now become a hot topic among planners, architects and policy-makers in the U.S. Existing research on transit-oriented development lacks quantitative interpretations, making it difficult for practitioners to implement projects. The author is developing a quantitative approach to understand transit -oriented development, and to assess the feasibility of such development. When searching the meaningful variables to do the analysis, the hypothesis, that mixed land use and high density would increase the financial return from the developments is tested. After examining existing measurements of related Urban-Form and Non-Urban-Form variables, specifically Frank & Pivo's Entropy Index model in gauging the land use heterogeneity, the author improves the current model to measure certain required variables by using OLS regression analysis with the assistance of current GIS and GPS technology. The quantifiable results are useful for practitioners and researchers.