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Author : Abbe B. Vernick
Publisher :
ISBN 13 :
Total Pages : 96 pages
Book Rating : 4.:/5 (561 download)
Download or read book Impact of Light Rail Transit on Residential Property Values written by Abbe B. Vernick and published by . This book was released on 2003 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yumi Chae
Publisher :
ISBN 13 :
Total Pages : 70 pages
Book Rating : 4.:/5 (85 download)
Download or read book The Impact of Light Rail Transit on Residential Value written by Yumi Chae and published by . This book was released on 2012 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: Light Rail Transit (LRT) has been getting more attention in U.S. cities due to its socio-economic benefits, such as reducing pollution and congestion, as well as promoting regional economic development. However, huge capital costs remain an obstacle to the construction of a new light rail system. For this reason, cities in the planning phases of LRT want to use value capture tools to finance transit construction and operation. In theory, any improvement in a transportation structure that increases accessibility and reduces transportation cost can be capitalized into property values in an area. In turn, governments levy taxes on a portion of the additional value of adjacent properties. This study, however, aims to empirically examine whether value capture is possible in the recession when property and land values continue to decrease. The study uses the case of the DART Green Line, which started to run in 2009 just after a financial crisis in the U.S. The 5745 residential parcels are analyzed with using a hedonic price model in order to detect the Green Line's influence on residential values before and after the recession. To enhance the proficiency of the regression, this study includes several structure and neighborhood characteristics. The statistical results found the Green Line's benefits on residential values both in the pre-Green Line period (before the recession) and the post-Green Line period (during the recession). It is noteworthy there are still positive influences of transit accessibility on residential values even in the unstable housing market, although the magnitude of the variable has diminished compared to the pre-Green Line period.
Author : Ze Wang
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.:/5 (972 download)
Download or read book The Impact of Light Rail Transit-oriented Development on Residential Property Value in Seattle, WA written by Ze Wang and published by . This book was released on 2016 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study seeks to investigate the impact of transit-oriented development (TOD) on residential property values using the case of Link light rail TOD in Seattle. While many previous studies decompose TOD impact into constituent parts, the study captures the integrated influence of TOD. Hedonic pricing method is employed and time-series analysis is conducted for three selected light rail station areas. Dummy variables are designed to reflect TOD proximity and relevant structural characteristics, locational conditions, as well as social-economic attributes are identified and controlled in regression models. Results demonstrate that TOD impact is different across time periods. In pre and during construction periods, TOD does not have statistical significant influence on the prices of residential properties; in after-construction period, TOD has significant positive impact on values of residential properties that are located within 0.25-0.50 mile from the light rail station.
Author : Elizabeth Cochrane Campbell
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.:/5 (741 download)
Download or read book Light Rail Impacts on Property Values written by Elizabeth Cochrane Campbell and published by . This book was released on 2011 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Light rail transit (LRT) systems are tools to help reduce traffic congestion and air pollution, promote high-density development and more affordable housing, and curtail urban sprawl in metropolitan cities throughout the United States. The impact of transit system services on property values has been studied from various perspectives using many statistical approaches. There are two general categories of effects that proximity to a light rail system can have on the value of residential properties: accessibility benefits (experienced in close proximity to the LRT stations) might increase property values, while nuisance qualities (experienced in both proximity to the LRT line and stations) could have a negative effect on residential property values. Due to the opposing nature of these coexisting effects, results from many empirical studies have been contradictory or inconclusive. This report reviews the spectrum of results found by the growing body of literature focusing on the capitalization effects of rail stations on property values. The economic effect of one particular LRT system, the 7.5 mile long METRORail line located in Houston, Texas, on the value of properties within close proximity to rail stations has not been thoroughly examined, as it only opened for service in 2004. This study utilizes property data acquired from the Harris County Appraisal District (HCAD), Geographic Information System (GIS) techniques, and Hedonic Price Models to analyze the impact of the LRT system in the city of Houston, Texas, on the value of residential properties that lie within close proximity to the line's rail stations.
Author : Mohd Faris Dziauddin
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (119 download)
Download or read book Estimating the Effects of Light Rail Transit (LRT) System on Residential Property Values Using Geographically Weighted Regression (GWR) written by Mohd Faris Dziauddin and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: This study assesses the effect of light rail transit system (LRT) on residential property values in Greater Kuala Lumpur, Malaysia, where traffic congestion has been a major issue since the mid 1990s. A relatively new technique namely Geographically Weighted Regression (GWR) is employed to estimate the increased value of land in the form of residential property values as a result of improved accessibility owing to the construction of the LRT systems. Using the Kelana Jaya LRT Line, located in Greater Kuala Lumpur, Malaysia as a case study, this paper reveals that the improvement of accessibility to employment and other amenities provided by the LRT system added premiums on residential property values but with spatial variation over geographical area indicates that the existence of the LRT systems may have a positive effect on residential property values in some areas but negative in others. The use of the GWR in this study is identified as a better approach to investigate the effec
Author :
Publisher : Transportation Research Board
ISBN 13 : 0309258243
Total Pages : 695 pages
Book Rating : 4.3/5 (92 download)
Download or read book Track Design Handbook for Light Rail Transit written by and published by Transportation Research Board. This book was released on 2012 with total page 695 pages. Available in PDF, EPUB and Kindle. Book excerpt: TCRP report 155 provides guidelines and descriptions for the design of various common types of light rail transit (LRT) track. The track structure types include ballasted track, direct fixation ("ballastless") track, and embedded track. The report considers the characteristics and interfaces of vehicle wheels and rail, tracks and wheel gauges, rail sections, alignments, speeds, and track moduli. The report includes chapters on vehicles, alignment, track structures, track components, special track work, aerial structures/bridges, corrosion control, noise and vibration, signals, traction power, and the integration of LRT track into urban streets.
Author : Siman Ning
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.:/5 (119 download)
Download or read book The Impact of Light Rail Station Type on Single Family Residential Property Value in the City of Portland, OR written by Siman Ning and published by . This book was released on 2020 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Light rail projects increase accessibility and light rail stations should result in a land value uplift (LVU) benefit for housing near stations. Extensive research has tested this hypothesis, generally using distance or distance band as a proxy of accessibility. However, the context of transit stations has not gained enough attention in past research. This research divides light rail stations into four different types based on land use ratio, density, sidewalk length, and accessibility; then, the station types are incorporated into a hedonic model. The modeling results confirm the price premium brought by light rail stations to nearby single-family homes. Findings also suggest that, after controlling for accessibility, TOD impacts on single family housing price varies in relation to station type. In other words, station area land use matters when considering land use value capture from light rail development. Future research should further examine how surrounding land uses interact with TOD in affecting housing price.
Author : Gary A. Wagner
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (13 download)
Download or read book Is the Light Rail 'Tide' Lifting Property Values? Evidence from Hampton Roads, Virginia written by Gary A. Wagner and published by . This book was released on 2016 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we examine the effect of light rail transit on the residential real estate market in Hampton Roads, Virginia. The Norfolk Tide light rail began operations in August 2011 and has experienced disappointing levels of ridership over its first four years of operations. We estimate the effect of the Tide using a difference-in-differences model and consider several outcome variables for the residential housing market, including sales price, sales-list price spread and the time-on-market. Our identification strategy exploits a proposed rail line in neighboring Virginia Beach, Virginia, that was rejected by a referendum in 1999. Overall, the results show negative consequences from the constructed light rail line. Properties within 1,500 meters experienced a decline in sales price of nearly 8 percent, while the sale-list price spread declined by approximately 2 percent. Our results highlight the potential negative effects of light rail, when potential accessibility benefits do not outweigh apparent local costs.
Author : Andrew J. Schouten
Publisher :
ISBN 13 :
Total Pages : 99 pages
Book Rating : 4.:/5 (12 download)
Download or read book Rail Infrastructure and Property Values written by Andrew J. Schouten and published by . This book was released on 2015 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: While the value of real estate located near train stations may benefit from the increased access and mobility that rail transit systems provide, in most cases these properties are also subject to the negative aspects--for example noise, vibration, and crowding--that are characteristic of close proximity to rail infrastructure. Because closeness to rail transit often simultaneously produces such a mix of amenity and disamenity for those living or working nearby, the true impact of rail station proximity on property values is often difficult to measure. This study seeks to clarify the nature of the relationship between rail station access and property values by focusing on the impact of Charlotte, North Carolina's rail transit system on the price of nearby residential property. Sales price data for homes within one mile of three types of rail infrastructure--existing light rail stations, light rail stations currently under construction, and a proposed heavy rail commuter line--was collected, and hedonic price models were used to estimate the effect of rail proximity on the sales value of these homes. Among the properties analyzed, only single-family homes located near existing light rail stations benefitted from higher sales prices with increased proximity to the transit system. Other properties within one mile of Charlotte's rail transit network--including condominiums near existing light rail stations, single-family homes near stations under construction, and single-family homes near a proposed commuter line--saw their values decrease with increased closeness to rail infrastructure.
Author : David Banister
Publisher : Routledge
ISBN 13 : 1135802718
Total Pages : 383 pages
Book Rating : 4.1/5 (358 download)
Download or read book Transport Investment and Economic Development written by David Banister and published by Routledge. This book was released on 2003-08-29 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book makes a major contribution to the debate and is directed at researchers, decision makers and students who are interested in the wider economic development impacts of transport.
Author : Regional Transportation District (Denver, Colo.)
Publisher :
ISBN 13 :
Total Pages : 2 pages
Book Rating : 4.:/5 (477 download)
Download or read book Light Rail Transit and Residential Property Value written by Regional Transportation District (Denver, Colo.) and published by . This book was released on 1982 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Hiroaki Suzuki
Publisher : World Bank Publications
ISBN 13 : 0821397508
Total Pages : 233 pages
Book Rating : 4.8/5 (213 download)
Download or read book Transforming Cities with Transit written by Hiroaki Suzuki and published by World Bank Publications. This book was released on 2013-01-22 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Transforming Cities with Transit' explores the complex process of transit and land-use integration and provides policy recommendations and implementation strategies for effective integration in rapidly growing cities in developing countries.
Author : David Schrank
Publisher : DIANE Publishing
ISBN 13 : 1437905609
Total Pages : 24 pages
Book Rating : 4.4/5 (379 download)
Download or read book Urban Mobility Report (2004) written by David Schrank and published by DIANE Publishing. This book was released on 2008-10 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Congestion continues to grow in America¿s urban areas. This report presents details on the 2004 trends, findings and what can be done to address the growing transportation problems. Trend data from 1982 to 2002 for 85 urban areas provides both a local view and a national perspective on the growth and extent of traffic congestion. The 2004 Report provides clear evidence that the time for improvements has arrived. Communicating the congestion levels and the need for improvements is a goal of this report. The decisions about which, and how much, improvement to fund will be made at the local level according to a variety of goals, but there are some broad conclusions that can be drawn from this database. Tables.
Author : Christopher Ferrell
Publisher :
ISBN 13 :
Total Pages : 170 pages
Book Rating : 4.:/5 (356 download)
Download or read book The Effects of Light Rail Transit on Urban Density and Property Values written by Christopher Ferrell and published by . This book was released on 1995 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stan Geertman
Publisher : Springer Science & Business Media
ISBN 13 : 3642375332
Total Pages : 478 pages
Book Rating : 4.6/5 (423 download)
Download or read book Planning Support Systems for Sustainable Urban Development written by Stan Geertman and published by Springer Science & Business Media. This book was released on 2013-06-20 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects a selection of the best articles presented at the CUPUM (Computers in Urban Planning and Urban Management) conference, held in the second week of July 2013 in Utrecht, the Netherlands. The articles included were selected by external reviewers using a double blind process.
Author : Cambridge Systematics
Publisher : Transportation Research Board
ISBN 13 : 9780309062671
Total Pages : 200 pages
Book Rating : 4.0/5 (626 download)
Download or read book Economic Impact Analysis of Transit Investments written by Cambridge Systematics and published by Transportation Research Board. This book was released on 1998 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report will be of interest to transportation economists and other analysts to assist them in selecting methods to conduct economic impact analyses of transit investments. Although the primary goal of public transportation investments is to improve mobility, economic benefits are also important to transit investment decisions. Consequently, it is important that reliable and defensible analytic methods are used to support decisionmaking.
Author : Robert Cervero
Publisher :
ISBN 13 :
Total Pages : 84 pages
Book Rating : 4.:/5 (52 download)
Download or read book Changes in Property Values Induced by Light Rail Transit written by Robert Cervero and published by . This book was released on 1996 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
