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Author: Elizabeth Cochrane Campbell
Publisher:
ISBN:
Category :
Languages : en
Pages : 54
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Book Description
Light rail transit (LRT) systems are tools to help reduce traffic congestion and air pollution, promote high-density development and more affordable housing, and curtail urban sprawl in metropolitan cities throughout the United States. The impact of transit system services on property values has been studied from various perspectives using many statistical approaches. There are two general categories of effects that proximity to a light rail system can have on the value of residential properties: accessibility benefits (experienced in close proximity to the LRT stations) might increase property values, while nuisance qualities (experienced in both proximity to the LRT line and stations) could have a negative effect on residential property values. Due to the opposing nature of these coexisting effects, results from many empirical studies have been contradictory or inconclusive. This report reviews the spectrum of results found by the growing body of literature focusing on the capitalization effects of rail stations on property values. The economic effect of one particular LRT system, the 7.5 mile long METRORail line located in Houston, Texas, on the value of properties within close proximity to rail stations has not been thoroughly examined, as it only opened for service in 2004. This study utilizes property data acquired from the Harris County Appraisal District (HCAD), Geographic Information System (GIS) techniques, and Hedonic Price Models to analyze the impact of the LRT system in the city of Houston, Texas, on the value of residential properties that lie within close proximity to the line's rail stations.
Author: Elizabeth Cochrane Campbell
Publisher:
ISBN:
Category :
Languages : en
Pages : 54
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Book Description
Light rail transit (LRT) systems are tools to help reduce traffic congestion and air pollution, promote high-density development and more affordable housing, and curtail urban sprawl in metropolitan cities throughout the United States. The impact of transit system services on property values has been studied from various perspectives using many statistical approaches. There are two general categories of effects that proximity to a light rail system can have on the value of residential properties: accessibility benefits (experienced in close proximity to the LRT stations) might increase property values, while nuisance qualities (experienced in both proximity to the LRT line and stations) could have a negative effect on residential property values. Due to the opposing nature of these coexisting effects, results from many empirical studies have been contradictory or inconclusive. This report reviews the spectrum of results found by the growing body of literature focusing on the capitalization effects of rail stations on property values. The economic effect of one particular LRT system, the 7.5 mile long METRORail line located in Houston, Texas, on the value of properties within close proximity to rail stations has not been thoroughly examined, as it only opened for service in 2004. This study utilizes property data acquired from the Harris County Appraisal District (HCAD), Geographic Information System (GIS) techniques, and Hedonic Price Models to analyze the impact of the LRT system in the city of Houston, Texas, on the value of residential properties that lie within close proximity to the line's rail stations.
Author: Abbe B. Vernick
Publisher:
ISBN:
Category :
Languages : en
Pages : 96
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Book Description
Author: Gary A. Wagner
Publisher:
ISBN:
Category :
Languages : en
Pages : 29
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Book Description
In this paper we examine the effect of light rail transit on the residential real estate market in Hampton Roads, Virginia. The Norfolk Tide light rail began operations in August 2011 and has experienced disappointing levels of ridership over its first four years of operations. We estimate the effect of the Tide using a difference-in-differences model and consider several outcome variables for the residential housing market, including sales price, sales-list price spread and the time-on-market. Our identification strategy exploits a proposed rail line in neighboring Virginia Beach, Virginia, that was rejected by a referendum in 1999. Overall, the results show negative consequences from the constructed light rail line. Properties within 1,500 meters experienced a decline in sales price of nearly 8 percent, while the sale-list price spread declined by approximately 2 percent. Our results highlight the potential negative effects of light rail, when potential accessibility benefits do not outweigh apparent local costs.
Author: Christopher Ferrell
Publisher:
ISBN:
Category : Land use
Languages : en
Pages : 170
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Book Description
Author: Tangerine Maria Almeida
Publisher:
ISBN:
Category :
Languages : en
Pages : 228
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Book Description
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.
Author:
Publisher: Transportation Research Board
ISBN: 0309258243
Category : Technology & Engineering
Languages : en
Pages : 695
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Book Description
TCRP report 155 provides guidelines and descriptions for the design of various common types of light rail transit (LRT) track. The track structure types include ballasted track, direct fixation ("ballastless") track, and embedded track. The report considers the characteristics and interfaces of vehicle wheels and rail, tracks and wheel gauges, rail sections, alignments, speeds, and track moduli. The report includes chapters on vehicles, alignment, track structures, track components, special track work, aerial structures/bridges, corrosion control, noise and vibration, signals, traction power, and the integration of LRT track into urban streets.
Author: Ze Wang
Publisher:
ISBN:
Category : Railroad stations
Languages : en
Pages : 50
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Book Description
The study seeks to investigate the impact of transit-oriented development (TOD) on residential property values using the case of Link light rail TOD in Seattle. While many previous studies decompose TOD impact into constituent parts, the study captures the integrated influence of TOD. Hedonic pricing method is employed and time-series analysis is conducted for three selected light rail station areas. Dummy variables are designed to reflect TOD proximity and relevant structural characteristics, locational conditions, as well as social-economic attributes are identified and controlled in regression models. Results demonstrate that TOD impact is different across time periods. In pre and during construction periods, TOD does not have statistical significant influence on the prices of residential properties; in after-construction period, TOD has significant positive impact on values of residential properties that are located within 0.25-0.50 mile from the light rail station.
Author: Jessica Mary Rewers
Publisher:
ISBN:
Category :
Languages : en
Pages : 182
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Book Description
Author: Bernard H. Siegan
Publisher: Mercatus Center at George Maso
ISBN: 9781538148624
Category : Nature
Languages : en
Pages : 298
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Book Description
The conversation about zoning has meandered its way through issues ranging from housing affordability to economic growth to segregation, expanding in the process from a public policy backwater to one of the most discussed policy issues of the day. In his pioneering 1972 study, Land Use Without Zoning, Bernard Siegan first set out what has today emerged as a common-sense perspective: Zoning not only fails to achieve its stated ends of ordering urban growth and separating incompatible uses, but also drives housing costs up and competition down. In no uncertain terms, Siegan concludes, "Zoning has been a failure and should be eliminated!" Drawing on the unique example of Houston--America's fourth largest city, and its lone dissenter on zoning--Siegan demonstrates how land use will naturally regulate itself in a nonzoned environment. For the most part, Siegan says, markets in Houston manage growth and separate incompatible uses not from the top down, like most zoning regimes, but from the bottom up. This approach yields a result that sets Houston apart from zoned cities: its greater availability of multifamily housing. Indeed, it would seem that the main contribution of zoning is to limit housing production while adding an element of permit chaos to the process. Land Use Without Zoning reports in detail the effects of current exclusionary zoning practices and outlines the benefits that would accrue to cities that forgo municipally imposed zoning laws. Yet the book's program isn't merely destructive: beyond a critique of zoning, Siegan sets out a bold new vision for how land-use regulation might work in the United States. Released nearly a half century after the book's initial publication, this new edition recontextualizes Siegan's work for our current housing affordability challenges. It includes a new preface by law professor David Schleicher, which explains the book's role as a foundational text in the law and economics of urban land use and describes how it has informed more recent scholarship. Additionally, it includes a new afterword by urban planner Nolan Gray, which includes new data on Houston's evolution and land use relative to its peer cities.
