Impact of Transmilenio on density, land use, and land value in Bogotá
mode - bus rapid transit, place - south america, land use - planning, land use - transit oriented development, land use - urban density
Land use/transport planning, Urban development, Land value
While urban sprawl has been the general growth pattern in most developing cities worldwide, the city of Bogotá has undergone a process of densification in specific areas in the past decade. Using a differences-in-differences methodology, we have shown that the bus rapid transit (BRT) network, Transmilenio, built in this period is one of the variables that account for this higher density. Areas served by Transmilenio, especially those in the periphery that have been provided with feeder bus routes, have a higher growth than zones without access to this system. Using a similar methodology for assessing the growth of newly built areas, we have not found a clear relation between the BRT and recent evolution of residential, commercial, or work areas. However, recent scientific literature confirms an impact of the BRT on land value.
Permission to publish the abstract has been given by Elsevier, copyright remains with them.
Bocarejo, J.P., Portilla, I., & Pérez, M.A. (2012). Impact of Transmilenio on density, land use, and land value in Bogotá. Research in Transportation Economics, Article in Press, Corrected Proof.