The Effects of Transportation Infrastructure on Nearby Property Values PDF Download

Author: William Huang
Publisher:
ISBN:
Category : Land use
Languages : en
Pages : 42

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Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 35

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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: Arturo Bujanda
Publisher:
ISBN:
Category : Investments
Languages : en
Pages :

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Author: N'guessan Affi
Publisher:
ISBN:
Category : Express highways
Languages : en
Pages : 296

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Author: A. Antwi
Publisher:
ISBN: 9780863393778
Category : Regional planning
Languages : en
Pages : 24

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Author: Joseph Berechman
Publisher: Springer
ISBN: 3319746065
Category : Business & Economics
Languages : en
Pages : 202

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This book explores the various economic and institutional factors that explain why huge investments are made in unworthy transportation mega-projects in the US and other countries. It is based on research, the general literature, economic analyses, and results from a specifically collected database showing that a significant proportion of implemented mega-projects have been found to be inferior ex-ante or incapable of delivering the returns they promised ex-post. Transportation infrastructure and other public investments of a similar scope (“mega-projects”) reflect public sector priorities and objectives, non-pecuniary as well as financial constraints, and a range of decision-making processes. This book describes how decisions made in the public sector with respect to transportation infrastructure investments are affected by the large populations and territories they serve, the estimation of the substantial opportunity costs they entail, the formal procedures instituted for quantitatively appraising projected outcomes and monetary returns, and the political environment in which these decisions are made.

Author: Aliyu Ahmad Aliyu
Publisher:
ISBN:
Category :
Languages : en
Pages : 16

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Location preference is a repeatedly debated subject in urban land economics. By and large, these deliberations are either empirical or theoretical in nature. A sizeable number of the previous studies tackle the question of most favorable location provisional on a certain set of constrictions. Moreover, other studies are dedicated to elucidating the nature (worth) of a real property at a particular location. Nevertheless, the problem of ascertaining the indicators that influence real property price is general to both sets of studies. The current body of knowledge on the impact of transportation infrastructure on real estate prices is diverse in its outcome and result with particular reference to degree or extent of impact as well as bearing, ranging from a negative to an unimportant or a positive effect. On the literature results, multiple spatial lag variables were found to be statistically significant signifying that a number of features or attributes of adjoining residential accommodations have significant influence on the subject residential property's value. Whereas the largest part of earlier hedonic price empirical studies considered only selected factors (such as, positive as well as negative impacts of single transportation mode or means, positive or else negative impacts of multiple transportation modes) into account, the majority of recent empirical studies, however, considered all these key determinants, factors and indicators into consideration for analyzing joint impacts of transportation facility. Through considerable strategy, policy in addition to planning or forecasting implications underlying the association between transit oriented developments and real estate values and the difference between previous studies' outcomes and results, there is a strong necessity and requirement for further study and analysis to ascertain an advanced, reliable in addition to dependable level of conclusiveness.

Author: Joseph Berechman
Publisher:
ISBN:
Category : Architecture
Languages : en
Pages : 744

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Book Description
In the context of regional science, transportation is taken to connote the generalized costs of travel encountered by individuals in carrying out their daily activities, or by firms in moving freight. The 38 papers collected here (from such sources as the J. of Regional Science, Review of International Economics, and J. of Political Economy) examine the fundamental forces that shape city size and type, the nature of the equilibrium relationships between land use and transportation, the dynamic properties of these interrelationships, and the effect of transportation congestion externality on urban form. No subject index. Annotation copyrighted by Book News, Inc., Portland, OR

Author: Joseph Berechman
Publisher: Routledge
ISBN: 1135214085
Category : Business & Economics
Languages : en
Pages : 427

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This book constructs a comprehensive and methodical economic, planning and decision-making framework for the evaluation of proposed transportation infrastructure investment projects, based on well-established theoretical principles.