Effects of bus transit-oriented development (BTOD) on single-family property value in Seattle metropolitan area
Bibliographic Data
| ID | 10864449 |
|---|---|
| Authors | Qing Shen (0000-0002-0968-7377, University of Washington, corresponding author), Simin Xu (0009-0000-9463-5557, University of Washington), Jiang Lin (0000-0001-6942-2445, Lawrence Berkeley National Laboratory) |
| Year | 2018 |
| Volume | 55 |
| Issue | 13 |
| Pages | 2960-2979 |
| Publication date | 2018-10-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Urban Studies (JOURNAL) |
| Journal identifiers | ISSN: 0042-0980 • E-ISSN: 1360-063X |
| Publisher | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1177/0042098017729078 |
| OpenAlex | W2765406598 |
| Language | EN |
| Citations received | 13 |
| References cited | 28 |
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
Bus network · Bus rapid transit · Business · Civil engineering · Geography · Land use · Metropolitan area · Neighbourhood (mathematics · Public transport · Real estate · Real estate development · Revenue · Transit-oriented development · Transport engineering · Urban sprawl · Computer Science · Engineering · Finance · Housing Market and Economics · Transportation Planning and Optimization · Urban Transport and Accessibility
Sustainability and Willingness to Pay
Promoting inclusive transit-oriented development in urban regeneration
Accessibility to transit, by transit, and property prices
Demand side climate change mitigation actions and SDGs
Estimating the Impacts of Proximity to Public Transportation on Residential Property Values
Walking through history
Effects of Noise Pollution on Residential Property Value in Enugu Urban, Nigeria
Impacts of bus rapid transit (BRT) on residential property values
Transit-Oriented Development and Neighborhood Change
What is the “best” way to measure the relative location variables in the market value assessment? An econometric method applied to an Italian case study
Disparities in affecting factors of housing price
Developing a multi-criteria prioritization tool to catalyze TOD on publicly owned land areas
Neighbourhood accessibility and walkability of subsidised housing in shrinking US cities
Location and Land Use
Bus rapid transit impacts on land uses and land values in Seoul, Korea
Obesity relationships with community design, physical activity, and time spent in cars
Properties of Tests for Spatial Dependence in Linear Regression Models
Many Pathways from Land Use to Health
Combined impacts of highways and light rail transit on residential property values
Does high-speed rail accessibility influence residential property prices? Hedonic estimates from southern Taiwan
Impact of high speed rail on housing values
Residential property valuations near transit stations with transit-oriented development
Bus stop, property price and land value tax
New urbanism and housing values
Valuing rail access using transport innovations
Identifying the Impacts of Rail Transit Stations on Residential Property Values
The Impact of Transit-oriented Development on Housing Prices in San Diego, CA
Hedonic Prices and Implicit Markets
Travel and the Built Environment
| Citations per year | 2.17 |
|---|---|
| Citation span | 2020 - 2026 (7) |
| Highly cited | No |