01029311

Component

https://doi.org/10.3141/1981-20

http://scholar.google.com...ters&publication_year=2006

Right-of-way acquisition is a substantial element of the cost of many highway construction and expansion projects. Given land price appreciation on the one hand and the opportunity cost of owning land on the other, a great deal of money can be at stake in the question of whether right-of-way should be purchased well in advance of when construction is expected to take place. This paper develops a theoretical framework for thinking about this issue and describes some results from an analysis at a fairly aggregate geographic level. The general result is that early acquisition is not a good investment in the most general sense, given the average rate of land price increase and the cost of money as well as other costs associated with early acquisition. The one clear exception is land that is in imminent danger of development. A major limitation of this work is that it viewed land prices only in the aggregate and did not specifically examine the immediate vicinity of the right-of-way. The research did find some support for the notion that certain types of land in specific locations can appreciate in price much faster than the average. It is not clear, however, that it is possible to predict these situations with sufficient accuracy to take advantage of the potential cost savings.

01041099

English

pp 127-132

2006

Transportation Research Record: Journal of the Transportation Research Board

0309099919

Print

References (7) ; Tables (3)

Financial analysis; Land use; Land use planning; Land values; Planning by facility or land use; Prices; Property acquisition; Real estate development; Real property; Right of way (Land)

Finance; Highways; Planning and Forecasting; I21: Planning of Transport Infrastructure

TRIS, TRB

Mar 3 2006 10:28AM

• Access Management Plan and Program for Des Moines, Iowa, Metropolitan Area
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• Analysis of New Starts Project by Using Tour-Based Model of San Francisco, California
• Centralized and Decentralized Multimodal Statewide Transportation Planning: Survey of States
• Consensus Building in Transportation Planning Practice: Case Evaluation of Process and Outcomes
• Developing a Simple System for Conflict Management of Public Involvement
• Developing a Statewide Travel Demand Model from a Person-Based Time Series Household Survey
• Direct Demand Forecasting Model for Small Urban Communities Using Multiple Linear Regression
• Documenting America's National Park Roads and Parkways
• Forecasting Traffic Impacts on a Citywide Street Network in the Absence of a Travel Demand Model
• Geography of Public Participation: Using Geographic Information Systems to Evaluate Public Outreach Program of Transportation Planning Studies
• I-285 Matrix Variegator: Practical Method for Developing Trip Tables for Simulation Modeling from Travel Demand Modeling Inputs
• Learning to Drive the Transportation System: Study of Training Needs of Metropolitan Planning Organization Participants in Florida
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• Modeling Time-of-Day Choice in Context of Tour- and Activity-Based Models
• Network Expansion Decision Making in Minnesota’s Twin Cities
• Oregon’s Transportation Planning Rule Goes into the Shop for Repairs
• Public Involvement Practices and Perspectives of Florida’s Metropolitan Planning Organizations
• Selection and Scheduling of Interdependent Transportation Projects with Island Models
• Service Times and Capacity at National Park Entrance Stations
• Summary of Recommendations from Travel Model Improvement Program's Peer Review Program
• Views of the Street: Using Community Surveys and Focus Groups to Inform Context-Sensitive Design