ECONOMIC IMPACT OF SELECTED SECTIONS OF INTERSTATE ROUTES ON LAND VALUE AND USE

THE ECONOMIC EFFECTS OF CONTROLLED-ACCESS FACILITIES IN NORTH CAROLINA ON SURROUNDING PROPERTY VALUES AND DEVELOPMENT ARE BEING ASCERTAINED. TECHNIQUES EMPLOYED TO ISOLATE ECONOMIC INFLUENCE OF HIGHWAYS INCLUDE THE USE OF THE BEFORE-AND-AFTER METHOD IN COMBINATION WITH A MULTIPLE REGRESSION ANALYSIS FOR EACH PERIOD. THREE SECTIONS OF INTERSTATE ROUTES /I-95, I-40, I-85/ IN THREE COUNTIES /CUMBERLAND, GUILFORD, ROWAN/ ACROSS THE STATE WERE CHOSEN FOR INVESTIGATION. TO ESTIMATE THE INFLUENCE OF THESE FACILITIES, FACTORS OTHER THAN THOSE ASSOCIATED WITH THE HIGHWAY ARE EVALUATED. LAND VALUE, WHICH IS SELECTED AS THE INDICATOR OF ECONOMIC INFLUENCE, IS DETERMINED BY OBTAINING SALES PRICES FOR PARCELS SOLD IN THE STUDY PERIODS. THE EFFECTS OF EIGHT NON-HIGHWAY AND TWO HIGHWAY VARIABLES ARE ESTIMATED BY UTILIZING A MULTIPLE REGRESSION ANALYSIS. THE DATA ARE PROCESSED BY STANDARD PROCEDURES AND THEN ANALYZED BY ELECTRONIC COMPUTER. RESULTS OF THE ANALYSIS INDICATE THAT THE AVERAGE UNIT PRICE OF PROPERTY INCREASED SIGNIFICANTLY WITHIN ALL SITES. HOWEVER, PATTERNS OF SIGNIFICANCE FOR THE INDEPENDENT VARIABLES ARE MOST ERRATIC AND, AS A RESULT, THESE INCREASES CANNOT NECESSARILY BE ATTRIBUTED TO THE CONSTRUCTION OF THE TEST FACILITIES. THE PREDOMINANT TYPE OF LAND USE WITHIN THE STUDY AREAS IS FARM LAND, WHEREAS THE MOST ACTIVE CATEGORY IN TERMS OF SALES IS VACANT PROPERTY. THE STATISTICAL ANALYSIS INDICATES THAT THE INVESTIGATED HIGHWAYS HAVE HAD NO MEASURABLE EFFECT ON DEVELOPMENT WITHIN THE STUDY AREAS.

Media Info

  • Media Type: Print
  • Features: Figures; References; Tables;
  • Pagination: pp 1-31
  • Monograph Title: Indirect and sociological effects of highway location and improvement
  • Serial:

Subject/Index Terms

Filing Info

  • Accession Number: 00201110
  • Record Type: Publication
  • Files: TRIS, TRB
  • Created Date: Dec 12 1994 12:00AM