01623354

Component

Accessibility is a driving factor in the real estate market and as such, land parcels with the most convenient access are often valued higher. Diverse modes can provide access to destinations, though most research has focused on the effects of highway and intra-urban rail (subway, commuter rail) infrastructure on land value.This paper examines the effects of regional intercity passenger rail service on land value. These services typically operate at lesser frequency and stop at fewer stations along longer routes than commuter rail systems. Considering the unique service qualities of regional rail, this paper explores whether land values near regional rail stations reflect the added accessibility the service provides. Specifically focusing on four Amtrak station areas in North Carolina, this paper evaluates the land values in four distinct communities to determine the effect of regional rail access and its proximity. The authors also test whether increased service frequency intensifies the effect of proximity to Amtrak stations. They use panel data spanning years and find positive land value effects both before and after service enhancements with more popular stations seeing larger increases.

This paper was sponsored by TRB committee ADD10 Standing Committee on Transportation and Economic Development. Alternate title: Value-Added Effects of North Carolina Amtrak Station and Its Passenger Services.

01618707

17-04995

English

14p

2017

Transportation Research Board 96th Annual Meeting

Digital/other

Figures; References; Tables

Accessibility; Intercity transportation; Land values; Railroad transportation

Amtrak

North Carolina

Economics; Passenger Transportation; Planning and Forecasting; Public Transportation; Railroads; Terminals and Facilities

Transportation Research Board Annual Meeting 2017 Paper #17-04995

TRIS, TRB, ATRI

Dec 8 2016 11:55AM