Park-and-Ride Facilities in New York City Economic Analyses of Alternative Locations
economics - appraisal/evaluation, mode - park and ride, place - north america
economic feasibility, park-and-ride facilities, New York
A procedure is developed to assess the economic feasibility of park-and-ride facilities. Relevant literature is discussed, and a mathematical formulation that can be integrated with a regional planning model is produced and applied to the selection of park-and-ride facilities in New York City. The evaluation procedure is divided into two main stages: candidate selection and candidate evaluation. The candidates are selected according to a set of criteria that includes demand considerations, transit connectivity and design, community integration, and economic viability. Economic assessment of the candidates considers the generalized cost of travel and entails the use of a binary logit model and the computation of four performance measures: expected demand, market share, weighted average savings, and present value of benefits.
Permission to publish the abstract has been given by Transportation Research Board, Washington, copyright remains with them.
Holguín-Veras, J., Reilly, J., Aros-Vera, F., Yushimito, W., & Isa, J. (2012). Park-and-Ride Facilities in New York City Economic Analyses of Alternative Locations. Transportation Research Record, Vol. 2276, pp. 123-130. Published by Transportation Research Board, Washington.