Value Capture to Fund Public Transportation: The Impact of Warm Springs BART Station on the Value of Neighboring Residential Properties in Fremont, CA
place - north america, economics - value capture, economics - willingness to pay, land use - impacts, mode - rail
Value capture, Transportation economics, Finance, Public transit, Rapid transit
This study estimates households’ willingness to pay for single-family houses and condominiums/townhouses located within 2 miles of Warm Springs (WS) BART Station in Fremont, CA. The study finds that, compared to the houses sold in the referent category (2 to 5 miles away and sold during the pre-project-announcement period of 2000-2001), an average-priced single-family house within two miles of the WS BART Station was higher in price by 9% to 15%. The total property value increment for the single-family houses is large enough to fund the $802 million Warm Springs BART Extension Project cost five times over.
Permission to publish the abstract given by MTI, copyright remains with them.
Mathur, S. (2019). Value Capture to Fund Public Transportation: The Impact of Warm Springs BART Station on the Value of Neighboring Residential Properties in Fremont, CA. Mineta Transportation Institute, Report CA-MTI 1714, pp. 57.