Effects of bus transit-oriented development (BTOD) on single-family property value in Seattle metropolitan area.
Transit-Oriented Development (TOD) is considered to be a powerful model intended to achieve sustainable urban development. A well-designed TOD enhances the accessibility of different kinds of activities, reduces transportation costs and improves the comfort and safety of travel for the neighbourhood...
| Publicado en: | Urban Studies (Sage Publications, Ltd.) Vol. 55; no. 13; pp. 2960 - 2980 |
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| Autores principales: | , , |
| Formato: | Artículo |
| Publicado: |
Sage Publications, Ltd.
Oct2018
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=131908006&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 131908006 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00420980 54XY jtl: Urban Studies (Sage Publications, Ltd.) issn: 00420980 maglogo: Y pubinfo: dt: Oct2018 vid: 55 iid: 13 pid: 2171 pub: Sage Publications, Ltd. artinfo: ui: 131908006 10.1177/0042098017729078 ppf: 2960 ppct: 20 formats: tig: atl: Effects of bus transit-oriented development (BTOD) on single-family property value in Seattle metropolitan area. aug: au: Shen, Qing Xu, Simin Lin, Jiang affil: University of Washington, USA Lawrence Berkeley National Laboratory, USA su: Transit-oriented development Sustainable urban development Real property Valuation Home prices Buses sug: subj: Truck, truck tractor and bus merchant wholesalers Automobile and Other Motor Vehicle Merchant Wholesalers Lessors of Other Real Estate Property Offices of Real Estate Agents and Brokers All Other Professional, Scientific, and Technical Services Transit-oriented development Sustainable urban development Real property Valuation Home prices Buses keyword: Bus Transit-Oriented Development (BTOD) planning property value transport 交通 公共汽车导向式开发 (BTOD) 房产价值 规划 Bus Transit-Oriented Development (BTOD) planning property value transport 交通 公共汽车导向式开发 (BTOD) 房产价值 规划 ab: Transit-Oriented Development (TOD) is considered to be a powerful model intended to achieve sustainable urban development. A well-designed TOD enhances the accessibility of different kinds of activities, reduces transportation costs and improves the comfort and safety of travel for the neighbourhood as whole, thereby increasing the willingness to pay for real estate properties located nearby. This study examines the housing price premiums of bus transit-oriented development (BTOD), a particular type of TOD that has become quite common in practice, especially in cities where public transportation is provided primarily through a bus system instead of a metro or light rail system. BTOD projects are built at major nodes of a bus network and typically include housing units and commercial services. Our research focuses on four completed BTODs in the Seattle metropolitan area, and employs data on sales prices, physical attributes, neighbourhood characteristics and location features for almost 7000 single-family homes located within a 1.5-mile radius. Using Hedonic price analysis, we find that these BTODs have generated significant positive effects on the values of adjacent homes, especially those located within 0.5 miles. Results from a more sophisticated longitudinal analysis using the data for Renton, one of the BTODs, confirm the price premiums while gaining additional insights about the temporal variations. These findings have an important policy implication, which is especially relevant for cities with an extensive bus transit system: local governments can generate additional tax revenues while advancing sustainability through bus transit-oriented developments. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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