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Title:

TRANSIT'S VALUE-ADDED EFFECTS: LIGHT AND COMMUTER RAIL SERVICES AND COMMERCIAL LAND VALUES

Accession Number:

00935398

Record Type:

Component

Availability:

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Washington, DC 20001 USA

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Order URL: http://worldcat.org/isbn/0309077311

Abstract:

Transit-oriented development has gained favor as a means of reducing traffic congestion, promoting affordable housing, and curbing sprawl. The effects of proximity to light and commuter rail stations are modeled as are the effects of freeway interchanges on commercial-retail and office properties in fast-growing Santa Clara County, California. From hedonic price models, substantial capitalization benefits were found, on the order of 23% for a typical commercial parcel near a light rail transit stop and more than 120% for commercial land in a business district and within 0.25 mi of a commuter rail station. Such evidence is of use not only to developers and lenders but also to transit agencies facing lawsuits over purported negative externalities associated with being near rail. It can also help in the design of creative financing, such as value-capture programs.

Supplemental Notes:

This paper appears in Transportation Research Record No. 1805, Travel Demand and Land Use 2002.

Language:

English

Corporate Authors:

Transportation Research Board

500 Fifth Street, NW
Washington, DC 20001 USA

Authors:

Cervero, R
Duncan, M

Pagination:

p. 8-15

Publication Date:

2002

Serial:

Transportation Research Record

Issue Number: 1805
Publisher: Transportation Research Board
ISSN: 0361-1981

ISBN:

0309077311

Features:

Figures (1) ; References (17) ; Tables (2)

Uncontrolled Terms:

Subject Areas:

Economics; Highways; Planning and Forecasting; Public Transportation; Society

Files:

TRIS, TRB

Last Modified:

Aug 29 2004 12:00AM

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