Impacts of CTfastrak on Real Estate and Urban Economic Development : Phase 1

Cohen, Jeffry P.; Danko III, Joseph P.; University of Connecticut. Connecticut Transportation Institute

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Impacts of CTfastrak on Real Estate and Urban Economic Development : Phase 1

2017-07-30
By Cohen, Jeffry P. ; Danko III, Joseph P.

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English

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Creators:

Cohen, Jeffry P. ; Danko III, Joseph P.

Cohen, Jeffry P. ; Danko III, Joseph P. Less -
Corporate Creators:

University of Connecticut. Connecticut Transportation Institute
Corporate Contributors:

United States. Federal Highway Administration
Subject/TRT Terms:

[+]

Bus Rapid Transit Costs Economic Benefits Economic Development Property Values Real Estate Development Transit Oriented Development Urban Development
Resource Type:

Tech Report
Geographical Coverage:

Connecticut
Corporate Publisher:

Connecticut. Dept. of Transportation
NTL Classification:

NTL-ECONOMICS AND FINANCE-ECONOMICS AND FINANCE;NTL-PUBLIC TRANSPORTATION-Transit Planning and Policy;
Abstract:

CTfastrak, a bus rapid transit service connecting four municipalities (Hartford, West Hartford, Newington, and New Britain) in Central Connecticut (CT), received final funding approval in 2011 and opened for service in March 2015. This new service may be encouraging transit-oriented development (TOD) along the busway, including new retail stores, restaurants, office space and housing. These potential impacts of CTfastrak are expected to affect property values. But, a priori, the magnitude of the impact is unknown. The overall aim of this study is to measure the impact of CTfastrak on real estate and urban economic development in these four municipalities. The change in property values and economic development will be analyzed before and after two crucial dates: the announcement of the funding commitment for the project in 2011 and the commencement of service in 2015. The first phase of this project – the focus of this report – involves collecting the necessary data for the second phase, which could encompass a data analysis study on the potential impacts on residential property values, businesses, residents, and towns in the areas surrounding CTfastrak stations over approximately the next five years.
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PDF
Collection(s):

US Transportation Collection
Main Document Checksum:

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urn:sha256:9c0865ff68491d3aa98b67181825bda44ba951dd68e5fe0510e50b096824c79b
Download URL:

https://rosap.ntl.bts.gov/view/dot/34984/dot_34984_DS1.pdf
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Impacts of CTfastrak on Real Estate and Urban Economic Development : Phase 1

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