Volume 29, Number 3, 2007 of the Journal of Real Estate Research
The Impact of Transit Corridors on Residential Property Values
John A. Kilpatrick
Greenfield Advisors LLC
Suite 650, 2601 4th Avenue
Seattle, Washington 98121
Email:
john@greenfieldadvisors.com |
Ronald C. Throupe
Greenfield Advisors LLC
Suite 650, 2601 4th Avenue
Seattle, Washington 98121
Email:
ron@greenfieldadvisors.com |
John I. Carruthers
U.S. Department of Housing and Urban Development
Office of Policy Development and Research
451 7th Street SW, Rm. 8234
Washington, DC 20410
Email: John_I._Carruthers@hud.gov
|
Andrew Krause
Greenfield Advisors LLC
Suite 650, 2601 4th Avenue
Seattle, Washington 98121
Email:
andy@greenfieldadvisors.com
|
Abstract:
Most of the literature on
transit corridors, such as superhighways and tunnels, focuses on the
positive externality of transit access (e.g., interstate access, transit
station) and fails to isolate the
negative externality of the corridor itself. This empirical study
examines two situations: one with both access benefits and negatives,
and another without the access benefit. The findings reveal that
proximity to the transit corridor alone without direct access conveys a
negative impact on nearby housing values.
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