Causal identification of transit-induced property value uplift in Canada's Waterloo Region: A spatio-temporal difference-in-differences method application

Renewed interest in light-rail transit (LRT) in North America has heightened the need for an improved understanding of transit impacts on land value uplift (LVU). A number of studies have investigated the relationship, with findings varying with local contexts and estimation methods. Most of these studies focus on the aggregate effects of transit using cross-sectional models, but do not examine the spatial and temporal heterogeneity in transit impacts through quasi-experimental approaches. To bridge this gap, the authors build a set of spatio-temporal difference-in-differences (STDID) models for the causal identification of transit-induced land-value uplift, taking the new LRT line in Canada's Waterloo Region as the case study. The study contributes to the transit-induced LVU literature in several ways. First, the authors account for the space-time influence of recent comparable sales in price determination, a transaction data-generating process often excluded in hedonic studies. Second, their models reveal the disaggregate effects of transit policies in different station areas and transit phases. Third, they provide a pre-LRT analysis in a car-dependent mid-sized urban area, which offers insight into speculative investment in TOD areas and/or resident anticipation of future accessibility benefits. The findings can provide guidance for value-capture programs and cost-benefit analysis for transit-oriented development in mid-sized cities.

• Record URL:
  • https://doi.org/10.1016/j.cities.2023.104676
• Record URL:
  • http://www.sciencedirect.com/science/article/pii/S0264275123004882
• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/issn/02642751
• Supplemental Notes:
  • © 2023 Elsevier Ltd. All rights reserved. Abstract reprinted with permission of Elsevier.
• Authors:
  • Huang, Yu
  • Parker, Dawn Cassandra
  • Babin, Robert
  • Kong, Fanhua
• Publication Date: 2024-2

Language

• English

Media Info

• Media Type: Web
• Features: References;
• Pagination: 104676
• Serial:
  • Cities
  • Volume: 145
  • Issue Number: 0
  • Publisher: Elsevier
  • ISSN: 0264-2751
  • Serial URL: http://www.sciencedirect.com/science/journal/02642751

Subject/Index Terms

• TRT Terms: City planning; Economic benefits; Investments; Light rail transit; Medium sized cities; Property values
• Geographic Terms: Waterloo (Canada)
• Subject Areas: Economics; Planning and Forecasting; Public Transportation; Railroads;

Filing Info

• Accession Number: 01913564
• Record Type: Publication
• Files: TRIS
• Created Date: Apr 1 2024 9:18AM