- ECONOMICS -
Most evidence suggests that being near transit enhances property values and rents.
Source: Developing Around Transit, Strategies and Solutions that Work, Urban Land Institute, 2004 and TCRP Report 102 Transit-Oriented Development in the United States: Experiences, Challenges, and Prospects, 2004
In Dallas, median values of office properties around transit stations increased 14% more than those not around stations between 1997 and 2001.
Source : "An Assessment of the DART LRT on Taxable Property Valuations and Transit Oriented Development", University of North Texas Center for Economic Development Research
Since the DART (Dallas Area Rapid Transit) system began operation in 1996, local authorities estimate that more than $800 million of commercial and residential development has occurred within walking distance of stations.
Source: Developing Around Transit, Strategies and Solutions that Work, Urban Land Institute, 2004
The two Metro-rail Corridors in Arlington County, Virginia represent 6 % of the county’s land and produce almost half its tax revenue.
Source: Developing Around Transit, Strategies and Solutions that Work, Urban Land Institute, 2004
In Dallas, median values of residential properties around transit stations increased 13% more than those not around station between 1997 and 2001.
Source : "An Assessment of the DART LRT on Taxable Property Valuations and Transit Oriented Development", University of North Texas Center for Economic Development Research
