THREE ECONOMIC IMPACT STUDIES ON A PORTION OF THE BALTIMORE BELTWAY

THE FIRST PART OF THE STUDY IS DESIGNED TO DETERMINE THE EFFECT OF FREEWAY CONSTRUCTION ON INITIAL SALES AND RESALES OF VARIOUS PARTS OF THE SAME SUBDIVISIONS. INITIAL SALE AND RESALE MARKET VALUES OF RESIDENTIAL PROPERTIES WERE COMPARED ACCORDING TO DISTANCE FROM THE BELTWAY. NINE HUNDRED TWENTY INITIAL SALES OF PROPERTY IN TERMS OF AVERAGE ORIGINAL COST AND 116 RESALES IN TERMS OF AVERAGE RESALE COST WERE DRAWN FROM FIVE SUBDIVISIONS. THERE WAS NO DISCERNIBLE DIFFERENCE IN THE MARKET VALUE OF PROPERTY ADJACENT TO A MAJOR EXPRESSWAY OR COMPARABLE PROPERTY MORE DISTANT FROM THE HIGHWAY WITHIN THE SAME SUBDIVISION. THE SECOND PART OF THE STUDY IS AN ANALYSIS OF THE EFFECT OF THE EXPRESSWAY ON PROPERTY VALUES OF SEVERAL ENTIRE SUBDIVISIONS. A COMPARISON WAS MADE OF SUBDIVISIONS ADJACENT TO THE EXPRESSWAY AND A 'CONTROL' SUBDIVISION. NINE HUNDRED TWENTY ORIGINAL SALES AND 116 RESALES IN THE STUDY SUBDIVISIONS AND 591 ORIGINAL SALES AND 88 RESALES IN THE CONTROL GROUP WERE USED IN THE ANALYSIS. THE BELTWAY DOES NOT INFLUENCE TO ANY SIGNIFICANT DEGREE THE GROWTH AND RESALE PATTERNS OF SUBDIVISIONS ABUTTING IT AS COMPARED TO SUBDIVISIONS DISTANT FROM IT. THE FINAL PART OF THE STUDY IS AN EVALUATION OF THE EFFECT OF THE EXPRESSWAY ON INDIVIDUAL PROPERTIES AS EVIDENCED BY THE ATTITUDE OF PERSONS WHOSE PROPERTIES IE ADJACENT TO THE EXPRESSWAY. PERSONAL INTERVIEWS WERE HELD WITH 88 PROPERTY OWNERS. SUBJECTIVE FEELINGS AND OPINIONS OF INDIVIDUAL PROPERTY OWNERS TOWARD THE BELTWAY WERE EVALUATED. THE INDIVIDUAL PROPERTY OWNER IS NOT AS OPINIONATED AS ONE MIGHT IMAGINE REGARDING THE LOCATION OF AN EXPRESSWAY. /VHRC/

  • Corporate Authors:

    Maryland State Roads Commission

    /Right-of-way Division
    ,   USA 
  • Publication Date: 1960-7

Subject/Index Terms

Filing Info

  • Accession Number: 00201455
  • Record Type: Publication
  • Source Agency: Virginia Highway Research Council
  • Report/Paper Numbers: 21 pp
  • Files: TRIS
  • Created Date: Apr 16 1970 12:00AM