Value Capture: Right-of-Way Use Agreements

Details

• Corporate Creators:
  United States. Department of Transportation. Federal Highway Administration. Office of Innovative Program Delivery
• Contributor:
  Bishop, Thay
• Subject/TRT Terms:
  • Value capture
  • Improvements
  • Land values
  • Right of way (Land)
• Resource Type:
  Brief
• Geographical Coverage:
  United States
• Corporate Publisher:
  United States. Department of Transportation. Federal Highway Administration. Office of Innovative Program Delivery
• Description:
  Right-of-Way (ROW) Use Agreements are a form of value capture that involves the sale or lease of development above, below, or adjacent to transportation ROWs or real properties. In active real estate markets, development rights are often transferred from historic properties to nearby properties. This practice can also be applied to highway or transit ROWs. When this is the case, new developments are often built on platforms erected above the highway or transit facility or in caverns excavated below them. Although there is added cost in making these preparations, ROW Use Agreements associated with transit or highway facilities are often attractive to investors because they enable the construction of new development in prime, center city locations without demolishing other properties or displacing current residents. These opportunities create new development sites in urban cores in locations that would otherwise not be able to support new construction.
• Format:
  PDF
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/55665/dot_55665_DS1.pdf
• File Type:
  [PDF - 259.73 KB]
• Collection(s):
  Federal Highway Administration
• Main Document Checksum:
  urn:sha-512:13f1542295dced9b55a5ed9fbf9cb23d36f2a823986123e4441a3e9a244ad45ed16a02a7d53798c50901a5437a4de5c1a09368d9f7fde72ee5e90e6115b12924