00816518

Component

https://doi.org/10.3141/1747-13

http://scholar.google.com...rger&publication_year=2001

When the public sector sponsors projects to promote general welfare, disproportionate benefits or disproportionate burdens often fall on individuals. In Santa Clara County, California, private property owners sued the county for damages, claiming a burden due to the existence of light rail transit (LRT). By looking at rental rates for commercial property, the present research tests several hedonic specifications to determine what effect, if any, LRT has on proximate property values. It also compares transit accessibility with highway accessibility as determinants of rent. An understanding of this effect allows the county to make informed decisions in its defense against the suits brought and allows other government entities to make informed decisions with respect to the building of future LRT systems. The results indicate that, when controlling for the other factors, properties that lie within 0.8 km (0.5 mi) of a light rail station command a higher lease rate than other properties in the county. When controlling for highway access, the rail proximity benefit was maintained, and it was shown that highway coverage in the county is so dense that there are no particular locational advantages associated with highway coverage.

This paper appears in Transportation Research Record No. 1747, Transportation and Public Policy 2001.

English

p. 104-113

2001

Transportation Research Record

0309072069

Figures (3) ; References (14) ; Tables (5)

Accessibility; Light rail transit; Location; Property values; Rent

Commercial real estate; Hedonic models

Santa Clara County (California)

Economics; Highways; Public Transportation; Society

TRIS, TRB, ATRI

Sep 26 2001 12:00AM

• APPLYING GOVERNMENTAL ACCOUNTING STANDARDS BOARD STATEMENT 34: LESSONS FROM THE FIELD
• ASSESSING ECONOMIC BENEFITS FROM IMPLEMENTATION OF NEW PAVEMENT CONSTRUCTION METHODS
• CREATING A NEW CENTURY OF TRANSIT OPPORTUNITY: STRATEGIC PLANNING FOR TRANSIT
• EFFICIENCY GAINS FROM VALUE PRICING: CASE STUDY OF SUNOL GRADE
• EMPIRICAL EXAMINATION OF RELATIONSHIP BETWEEN FIRM LOCATION AND TRANSPORTATION FACILITIES
• FINANCES OF COMMERCIALIZED URBAN ROAD NETWORK SUBJECT TO CONGESTION PRICING
• IMPACT OF VARIABLE PRICING ON TEMPORAL DISTRIBUTION OF TRAVEL DEMAND
• METHODOLOGY TO DETERMINE LOAD- AND NON-LOAD-RELATED SHARES OF HIGHWAY PAVEMENT REHABILITATION EXPENDITURES
• PRODUCTIVITY BENEFITS AND COST EFFICIENCIES FROM INTELLIGENT TRANSPORTATION SYSTEM APPLICATIONS TO PUBLIC TRANSIT: EVALUATION OF ADVANCED VEHICLE LOCATION
• REGIONAL STRATEGIES FOR THE SUSTAINABLE INTERMODAL TRANSPORTATION ENTERPRISE: FIVE YEARS OF RESEARCH
• ROAD FINANCING AND MANAGEMENT IN THE BALTIC STATES
• RURAL INLAND WATERWAYS ECONOMIC IMPACT KIT: A SYNOPSIS
• STATIC VERSUS DEMAND-SENSITIVE MODELS AND ESTIMATION OF SECOND-BEST CORDON TOLLS: AN EXERCISE FOR EIGHT ENGLISH TOWNS
• VALUE OF ARIZONA'S STATE HIGHWAY SYSTEM: CORPORATE-STYLE FINANCIAL ANALYSIS