Value-added effects of transit-oriented development: The impact of urban rail on commercial property values with consideration of spatial heterogeneity

被引：23
|
作者：
Yu, Haitao [1 ]
Pang, Hao [2 ]
Zhang, Ming [2 ]
机构：
[1] Univ Florida, Coll Design Construct & Planning, Dept Urban & Reg Planning, POB 115701, Gainesville, FL 32611 USA
[2] Univ Texas Austin, Sch Architecture, Community & Reg Planning, 310 Inner Campus Dr B7500, Austin, TX 78712 USA
来源：
PAPERS IN REGIONAL SCIENCE | 2018年 / 97卷 / 04期
关键词：
Hedonic price model; spatial Durbin model; geographically weighted regression; commuter rail; transit price premium; value capture and TOD strategies; BUS RAPID-TRANSIT; LAND-VALUE UPLIFT; LIGHT-RAIL; HOUSING-MARKET; TRANSPORT; STATIONS; ACCESSIBILITY; AGGLOMERATION; INVESTMENT; INDUSTRIAL;
D O I：
10.1111/pirs.12304
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study investigates the impact of the Austin MetroRail on commercial property values. Spatial Durbin models (SDM) suggest a modest price premium associated with rail transit across the study area. A premium gradient is also presented at different distance tiers from stations. When it comes to transit-oriented development (TOD), a synergistic effect in enlarging the premium is found: with additional $9.0/ft(2), $8.6/ft(2) and $5.3/ft(2) at 0.25 mi, 0.25-0.5 mi and 0.5-0.75 mi, respectively. Furthermore, geographically weighted regression shows the premium is significantly higher in central business district (CBD) and TOD areas. Such recognition of the heterogeneous price effect is of use in the design of project financing and TOD strategies.
引用
收藏
页码：1375 / +
页数：23
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