Both highway exits and light rail transit stations appear to generate similar impacts on single-family home values. These results are in keeping with the researchers’ hypothesis that the negative disamenity effect around transport nodes is relatively small and fades quickly with increasing distance, while the positive accessibility effect is larger and declines more gradually with distance.
Can BRT drive TOD? Yes, with the right government support
Conventional wisdom asserts that rail does a better job of spurring transit-oriented development than a bus rapid transit line, but until now no one has quantified the return on investment with a BRT line. A new study released by ITDP this week attempts to quantify the TOD potential of these transit options and find that, “Per dollar of transit investment, and under similar conditions, Bus Rapid Transit leverages more transit-oriented development investment than Light Rail Transit or streetcars.”
More Development for Your Transit Dollar: An Analysis of 21 North American Transit Corridors (ITDP, 2013)
Cities short on funds have wondered whether BRT, a low-cost form of transit, cold be used to leverage TOD. This report compares BRT, light-rail, and streetcar projects and finds that per dollar of investment BRT leverages more development than either light rail or streetcar. Other conclusions are that all three types of transit investments show a significant return, and both government support how well the BRT meets best practices are keys to TOD success.
Light rail debate could put an end to the Columbia River bridge project
Oregon Governor John Kitzhaber has taken the position that the new Columbia River Crossing bridge project will die if Washington State attempts to remove light rail from the project. However, the GOP-controlled majority in the Washington State Senate has said that it will reject any bridge proposal with light rail, claiming they don’t want to pay for new transit-operations taxes and that rail is a waste of potential road space.
Light rail systems can raise nearby property values before completion even in low density areas
A new study of the property values along a light-rail line in Charlotte, NC, shows that property values can be affected even before the transit line is built, despite the area’s relatively low-density.
The bus stigma: Why it exists, and should we care?
Why are buses so maligned? And what can we do about it? How can we get “choice riders” – those that do not have to use transit, but choose to – to take the bus? And should we care whether people with transportation choices ride the bus?
Impacts of light rail on property values vary by distance and income level
A new study on the economic impacts of New Jersey’s River Line light rail system has shed some light on the complex relationship between transportation infrastructure and the housing market. The study highlights the more localized economic effects of the light rail system. The results provide an interesting opportunity for transit managers and planners to consider the varied effects new transportation infrastructure may have on different types of surrounding property.