A statistical analysis of the relationship between land values and freestanding bus facilities.

654800172Final report.PDFTech ReportSWUTC/10/167372-110727Transit centersProperty valuesLand valuesTexasSouthwest Region University Transportation Center (U.S.)Lewis, CarolGoodwin, GwenTexas Southern University. Center for Transportation Training and ResearchNTL-ECONOMICS AND FINANCE-Economic ImpactsNTL-PLANNING AND POLICY-Land UseNTL-REFERENCES AND DIRECTORIES-StatisticsUS Transportation CollectionPublic transit professionals continue to seek methods that offer greater service opportunities, whilenot materially increasing the costs of service provision. One strategy is to construct bus transitcenters which operate much like the airline hub and spoke concept. More frequent destinationscan be made available with shorter patron wait times and minimal to no increase in the number ofbus hours. Patrons tend to appreciate the convenience of a transfer occurring in a lighted facility,in addition to the increased level of bus service. In many cases, there is an anticipation of higherdensity residential near these areas. A number of the bus based centers may be close to singlefamily neighborhoods. Residents might express concerns about the value of their property giventhe presence of a bus transit center near their home. Besides the bus transit centers that servetraditional local or express routes, a number of cities are planning bus rapid transit lines withstations that might lead nearby communities to ask similar questions about property values. Thisstudy assesses the effect of bus transit centers in Houston, Texas, on nearby single familyresidential property values