THE EFFECTS OF AN AIRPORT ON LAND VALUES
In order to assess the effects of a public project on adjacent land values, this study focuses on the impact of an airport on real estate values. The author compares changes in land prices in one area adjacent to Toronto International Airport with similar areas in Metropolitan Toronto. All areas, in the period 1955 to 1969, represent varied land uses. Considering locational as well as land use choices facing decision makers, the model propounded explores possible external economics and diseconomies in the vicitity of the public project. The results of the study indicate that differences do exist in the pattern of price changes in the area around the airport in comparison with the values in non-airport areas. The evidence also suggests that residential land values drop initially during periods of change but, after a time, increase approximately to their previously established long-run trend.
Ministry of State, CanadaUrban Affairs Department
- Crowley, R W
- Publication Date: 1972-2
- Pagination: 24 p.
- TRT Terms: Airport noise; Economic conditions; Environmental impact analysis; Environmental impacts; Impacts; Land use; Land values; Residential areas
- Identifier Terms: Toronto Pearson International Airport
- Subject Areas: Aviation; Economics; Environment; Terminals and Facilities;
- Accession Number: 00155619
- Record Type: Publication
- Source Agency: Federal Aviation Administration
- Files: TRIS, USDOT
- Created Date: Sep 20 1977 12:00AM