Value Capture to Fund Public Transportation: The Impact of Warm Springs BART Station on the Value of Neighboring Residential Properties in Fremont, CA

Details

• Creators:
  Mathur, Shishir
• Corporate Creators:
  Mineta Transportation Institute
• Corporate Contributors:
  United States. Department of Transportation. Office of the Assistant Secretary for Research and Technology
• Subject/TRT Terms:
  Finance Land Use Land Values Least Squares Method Property Taxes Public Transit Rail Transit Stations Rapid Transit Real Estate Development Residential Location Transit Oriented Development Value Capture Transportation Economics

  More +
• Publication/ Report Number:
  19-11
• Resource Type:
  Tech Report
• Geographical Coverage:
  California;United States
• Edition:
  Final Report
• Corporate Publisher:
  Mineta Transportation Institute
• Abstract:
  This study estimates households’ willingness to pay for single-family houses and condominiums/townhouses located within 2 miles of Warm Springs (WS) BART Station in Fremont, CA. The study finds that, compared to the houses sold in the referent category (2 to 5 miles away and sold during the pre-project-announcement period of 2000-2001), an average-priced single-family house within two miles of the WS BART Station was higher in price by 9% to 15%. The total property value increment for the single-family houses is large enough to fund the $802 million Warm Springs BART Extension Project cost five times over.
• Format:
  PDF
• Funding:
  69A3551747127
• Collection(s):
  US Transportation Collection
• Main Document Checksum:
  urn:sha-512:d325db447ba1e32217647dba702994c342a4291dab07dcb708e168c52b8e24c89adae474769670bb538d4e2c1a2ed8e009776eba2327f38f6242481400de1103
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/49165/dot_49165_DS1.pdf
• File Type:
  [PDF - 4.48 MB ]