Commercial Property Value and Proximity to Light Rail PDF Download
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Author: Rachel R. Weinberger
Publisher:
ISBN:
Category : Commercial buildings
Languages : en
Pages : 294
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Book Description
Author: Rachel R. Weinberger
Publisher:
ISBN:
Category : Commercial buildings
Languages : en
Pages : 294
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Book Description
Author: Frank Bruinsma
Publisher: Springer Science & Business Media
ISBN: 3790819727
Category : Business & Economics
Languages : en
Pages : 409
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Book Description
The role of railways in urban development is the subject of this book. The central aim is to inquire into how especially the development of high-speed rail and light rail links will affect European cities. The analyses are carried out with special attention given to the broader institutional environment of the railway system, including the shift toward privatised railway companies and internationalisation.
Author: Yingfei Huang
Publisher:
ISBN:
Category :
Languages : en
Pages : 85
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Book Description
Property values. However, GWR revealed that this impact varies significantly throughout the geographic study area. Metro stations in the north are associated with decreasing commercial property values, while those in the south are associated with increasing commercial property values. The increase in value for some properties if situated even one mile closer to some metro stations could be as high as $22 per square feet. With a mutual recognition of this property value increment, public-private partnerships between the rail transit agency and commercial developers could be built to achieve a win-win situation. On the contrary, incentives such as density bonus or favorable rates should be given to business owners if commercial development has to be encouraged in an area where construction of rail transit is associated with decreasing property values. When investigating the relationship between accessibility to rail transit and commercial property values, GWR is a more suitable model than OLS to support decision-making processes that fully utilize value capture potentials of metro stations.
Author: Sabrina Putri Winarko
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
However, when the data is put into the GWR model, the results have shown that the impact is not spatially consistent throughout the study area. In fact, it varies significantly, ranging from a decrease of $9.70 to an increase of $22.31, which indicates that not all commercial properties within the study area are negatively impacted when located within a mile of a train station, as the global model have indicated. And thus, GWR is proven to be a better method in estimating the impact of train stations on commercial property values. With GWR model results, the increments in commercial property values surrounding the station can be used by developers and urban planners to decide whether doing a TJD in a certain location will be feasible for both parties.
Author: Kihwan Seo
Publisher:
ISBN:
Category : Electronic dissertations
Languages : en
Pages : 134
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Book Description
Transportation infrastructure in urban areas has significant impacts on socio-economic activities, land use, and real property values. This dissertation proposes a more comprehensive theory of the positive and negative relationships between property values and transportation investments that distinguishes different effects by mode (rail vs. road), by network component (nodes vs. links), and by distance from them. It hypothesizes that transportation investment generates improvement in accessibility that accrue only to the nodes such as highway exits and light rail stations. Simultaneously, it tests the hypothesis that both transport nodes and links emanate short-distance negative nuisance effects due to disamenities such as traffic and noise. It also tests the hypothesis that nodes of both modes generate a net effect combining accessibility and disamenities. For highways, the configuration at grade or above/below ground is also tested. In addition, this dissertation hypothesizes that the condition of road pavement may have an impact on residential property values adjacent to the road segments. As pavement condition improves, value of properties adjacent to a road are hypothesized to increase as well. A multiple-distance-bands approach is used to capture distance decay of amenities and disamenities from nodes and links; and pavement condition index (PCI) is used to test the relationship between road condition and residential property values. The hypotheses are tested using spatial hedonic models that are specific to each of residential and commercial property market. Results confirm that proximity to transport nodes are associated positively with both residential and commercial property values. As a function of distance from highway exits and light rail transit (LRT) stations, the distance-band coefficients form a conventional distance decay curve. However, contrary to our hypotheses, no net effect is evident. The accessibility effect for highway exits extends farther than for LRT stations in residential model as expected. The highway configuration effect on residential home values confirms that below-grade highways have relatively positive impacts on nearby houses compared to those at ground level or above. Lastly, results for the relationship between pavement condition and residential home values show that there is no significant effect between them.Some differences in the effect of infrastructure on property values emerge between residential and commercial markets. In the commercial models, the accessibility effect for highway exits extends less than for LRT stations. Though coefficients for short distances (within 300m) from highways and LRT links were expected to be negative in both residential and commercial models, only commercial models show a significant negative relationship. Different effects by mode, network component, and distance on commercial submarkets (i.e., industrial, office, retail and service properties) are tested as well and the results vary based on types of submarket.Consequently, findings of three individual paper confirm that transportation investments mostly have significant impacts on real-estate properties either in a positive or negative direction in accordance with the transport mode, network component, and distance, though effects for some conditions (e.g., proximity to links of highway and light rail, and pavement quality) do not significantly change home values. Results can be used for city authorities and planners for funding mechanisms of transport infrastructure or validity of investments as well as private developers for maximizing development profits or for locating developments.
Author: Rubén Cordera
Publisher: CRC Press
ISBN: 1351361538
Category : Architecture
Languages : en
Pages : 220
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Book Description
Transport and the spatial location of population and activities have been important themes of study in engineering, social sciences and urban and regional planning for many decades. However, an integrated approach to the modelling of transport and land use has been rarely made, and common practice has been to model both phenomena independently. This book presents an introduction to the modelling of land use and transport interaction (LUTI), with a theoretical basis and a presentation of the broad state of the art. It also sets out the steps for building an operational LUTI model to provide a concrete application. The authors bring extensive experience in this cross-disciplinary field, primarily for an academic audience and for professionals seeking a thorough introduction.
Author: Robert Cervero
Publisher: Transportation Research Board
ISBN: 0309087953
Category : City planning
Languages : en
Pages : 534
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Book Description
Author: Tangerine Maria Almeida
Publisher:
ISBN:
Category :
Languages : en
Pages : 228
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Book Description
Author: Jo A.E.E. van Nunen
Publisher: Springer Science & Business Media
ISBN: 3642211925
Category : Business & Economics
Languages : en
Pages : 321
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Book Description
Delivering a sustainable transport system is not just a matter of adopting a number of technological innovations to improve performance in terms of people, planet, and profits. A broader structural and societal transition is needed in technology, as well as in institutions, behavioural patterns, and the economy as a whole. In this broader view, neither the free market nor the public sector will be the unique key player in making this transition happen. Elements of such an approach are presented in this book in a number of domains: integrating transport infrastructure and land use planning, thus connecting fields that are rather unconnected in day-to-day policies; experiments with dynamic transport optimization, including reports on pilot projects to test the viability of transitions; towards reliable transport systems, describing a reversal from supply-driven towards demand-driven approaches; and sustainable logistics and traffic management, from ‘local’ city distribution to global closed supply chain loops.
Author: Siman Ning
Publisher:
ISBN:
Category :
Languages : en
Pages : 64
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Book Description
Light rail projects increase accessibility and light rail stations should result in a land value uplift (LVU) benefit for housing near stations. Extensive research has tested this hypothesis, generally using distance or distance band as a proxy of accessibility. However, the context of transit stations has not gained enough attention in past research. This research divides light rail stations into four different types based on land use ratio, density, sidewalk length, and accessibility; then, the station types are incorporated into a hedonic model. The modeling results confirm the price premium brought by light rail stations to nearby single-family homes. Findings also suggest that, after controlling for accessibility, TOD impacts on single family housing price varies in relation to station type. In other words, station area land use matters when considering land use value capture from light rail development. Future research should further examine how surrounding land uses interact with TOD in affecting housing price.
