00935398

Component

https://doi.org/10.3141/1805-02

http://scholar.google.com...ncan&publication_year=2002

Transit-oriented development has gained favor as a means of reducing traffic congestion, promoting affordable housing, and curbing sprawl. The effects of proximity to light and commuter rail stations are modeled as are the effects of freeway interchanges on commercial-retail and office properties in fast-growing Santa Clara County, California. From hedonic price models, substantial capitalization benefits were found, on the order of 23% for a typical commercial parcel near a light rail transit stop and more than 120% for commercial land in a business district and within 0.25 mi of a commuter rail station. Such evidence is of use not only to developers and lenders but also to transit agencies facing lawsuits over purported negative externalities associated with being near rail. It can also help in the design of creative financing, such as value-capture programs.

This paper appears in Transportation Research Record No. 1805, Travel Demand and Land Use 2002.

English

p. 8-15

2002

Transportation Research Record

0309077311

Figures (1) ; References (17) ; Tables (2)

Accessibility; Benefits; Commercial strips; Land values; Light rail transit; Railroad commuter service; Transit oriented development

Hedonic price models

Santa Clara County (California)

Economics; Highways; Planning and Forecasting; Public Transportation; Society

TRIS, TRB

Dec 13 2004 12:00AM

• ACCESSIBILITY INDICES: CONNECTION TO RESIDENTIAL LAND PRICES AND LOCATION CHOICES
• ADAPTATION OF LOGIT KERNEL TO ROUTE CHOICE SITUATION
• ALTERNATIVE FUTURES FOR INTEGRATED TRANSPORTATION AND LAND USE MODELS CONTRASTED WITH TREND-DELPHI MODELS: PORTLAND, OREGON, METRO RESULTS
• AUTOMOBILE OWNERSHIP ANALYSIS USING ORDERED PROBIT MODELS
• DESIGN OF AN INTEGRATED LAND USE AND ACTIVITY-BASED TRAVEL MODEL SYSTEM FOR THE PUGET SOUND REGION
• EFFECTS OF IN-FILL RETAIL CENTER DEVELOPMENT ON REGIONAL TRAVEL PATTERNS
• FLEXIBLE MODELING STRATEGIES FOR ASSESSING THE INFLUENCE OF TRANSPORTATION ON ACCESSIBILITY
• HOUSEHOLD TRAVEL BEHAVIOR IN DEVELOPING COUNTRIES: NESTED LOGIT MODEL OF VEHICLE OWNERSHIP, MODE CHOICE, AND TRIP CHAINING
• INCORPORATING NONMOTORIZED MODE AND NEIGHBORHOOD ACCESSIBILITY IN AN INTEGRATED LAND USE AND TRANSPORTATION MODEL SYSTEM
• MICROSIMULATION IN TRAVEL DEMAND MODELING: LESSONS LEARNED FROM THE NEW YORK BEST PRACTICE MODEL
• MIXED LOGIT (OR LOGIT KERNEL) MODEL: DISPELLING MISCONCEPTIONS OF IDENTIFICATION
• PREDICTION OF RECREATIONAL TRAVEL USING GENETICALLY DESIGNED REGRESSION AND TIME-DELAY NEURAL NETWORK MODELS
• SPATIAL TRANSFERABILITY OF THE ALBATROSS MODEL SYSTEM: EMPIRICAL EVIDENCE FROM TWO CASE STUDIES
• TRADITIONAL NEIGHBORHOODS AND AUTOMOBILE OWNERSHIP
• TRANSPORTATION INVESTMENTS AND URBAN FORM
• UNCERTAINTY PROPAGATION IN AN INTEGRATED LAND USE-TRANSPORTATION MODELING FRAMEWORK: OUTPUT VARIATION VIA URBANSIM