Capturing the Value of Transit
[Baltimore Spokes: What's wrong with this picture? Where's the congestion, air pollution? This can't be a vibrant city ... or can it?]
A recent Denver Post story noted property values had increased 4 percent along the Southeast light rail line – the Post called it “the money train” – while declining by 7.5 percent regionwide. Portland’s Pearl District has seen property values increase more than 1,000 percent along its streetcar line since 2001, while Tampa has seen increases of up to 400 percent. Another recent study found property values along the light rail system in Dallas increased 50 percent from 2005 to 2007, noting that existing and planned development near stations would bring in an additional $127 million in tax revenues a year.