Design Considerations for a 21st Century Ground Transportation System Based on Value-Capture Financing

Numerous studies have demonstrated that transportation systems raise property values and stimulate economic growth, and it has been proposed that some of this value enhancement might be captured to finance their construction and/or operation. However, other studies suggests that recently constructed urban rail systems have had only marginal economic impact, implying that mass transit investments may not create significant value-capture potential. Census data suggests an explanation for this discrepancy, specifically, that transportation systems elevate property values and income levels in a given location by increasing the number of people who have access to that location. To generate more than a marginal economic effect, a transportation system should represent a quantum leap over the accessibility provided by the existing network. Accessibility, as well as ridership, depend upon capacity and load factor, which can be affected by fare structure, system design and choice of transportation technology. Capacity and load factor are increased by high-speed, high-acceleration systems based on small vehicles, short headways, central control, dynamic scheduling, and off-line stations. As a result, electromagnetic propulsion with a linear motor has, by far, the greatest value-capture potential of any ground transportation technology.

• Record URL:
  • http://www.informaworld.com/10.1080/03081060802086330
• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/oclc/1767712
• Supplemental Notes:
  • Abstract reprinted with permission from Taylor and Francis
• Authors:
  • Stull, Mark A
• Publication Date: 2008-6

Language

• English

Media Info

• Media Type: Print
• Features: Figures; References; Tables;
• Pagination: pp 249-275
• Serial:
  • Transportation Planning and Technology
  • Volume: 31
  • Issue Number: 3
  • Publisher: Taylor & Francis
  • ISSN: 0308-1060
  • Serial URL: https://www.tandfonline.com/toc/gtpt20/current

Subject/Index Terms

• TRT Terms: Accessibility; Design; Financing; Ground transportation; Magnetic levitation vehicles; Ridership; Value capture
• Subject Areas: Design; Economics; Finance; Public Transportation; Railroads;

Filing Info

• Accession Number: 01104482
• Record Type: Publication
• Files: TRIS
• Created Date: Jul 17 2008 9:24AM