Transit-oriented development, as initially conceptualized (TOD 1.0), aims to re-engineer the built environment to promote transit and walking and curb car-oriented sprawl. While widely adopted and practiced, TOD 1.0 faces increasing challenges amid growing societal concerns over inequality and climate crisis. TOD-advocated development densification and diversification could adversely affect neighborhood affordability, residential stability, and microclimate conditions. The emergence of disruptive transportation technologies has also brought both threats and opportunities to transit. This paper advocates a paradigm shift to transforming TOD 1.0 to Next-Gen TOD in three aspects. First, Next-Gen TOD shifts the spatial focus from TOD nodes to corridors or networks to harness the network effects of transit systems. Second, Next-Gen TOD shifts the planning/policy focus from prescribing the attributes of 3-Ds (Density, Diversity, and Design) to balancing the outcome of 3-Es (Efficiency, Equity, and Eco-Adaptivity). Third, by including additional 2-Es, Evaluative and Educative, Next-Gen TOD operates as an analytical and engagement platform to support participatory process and informed choice of planning/policy options. The paper presents two empirical examples, Hong Kong West Kowloon HSR-TOD and TOD-based affordable housing modeling in Austin, TX, to illustrate the application of Next-Gen TOD.