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• 1. [Article] Impacts of Bus Rapid Transit (BRT) on Surrounding Residential Property Values

  As bus rapid transit (BRT) grows in popularity in the United States, a better understanding of the mode’s impacts on land uses and property values is needed. Economic theory suggests, and literature has ...

  Citation × Citation Citation Abstract Copy Title: Impacts of Bus Rapid Transit (BRT) on Surrounding Residential Property Values Author: Perk, Victoria, Catalá, Martin, Mantius, Maximillian, Corcoran, Katrina Year: 2017 As bus rapid transit (BRT) grows in popularity in the United States, a better understanding of the mode’s impacts on land uses and property values is needed. Economic theory suggests, and literature has shown, that people are willing to pay higher housing costs to lower their costs of transportation to areas of economic activity. Does high-quality BRT service reliably provide such access and, thereby, increase residential property values? The hypothesis is that property values are higher closer to BRT stations, reflecting a premium for the access provided by the BRT service to various goods, services, employment, education, and recreation. There has been some work on this topic outside of the U.S.; however, due to various cultural, social, and institutional differences, those experiences may not be applicable to U.S. property values. The literature includes, to date, very little work on U.S. BRT systems’ impacts on property values using robust econometric techniques and/or spatial modeling. Further, because every BRT system is different, it is necessary to analyze additional case studies to provide a more robust understanding of how modern U.S. experiences with BRT services may affect surrounding property values. This research contributes to the relatively small body of literature on property value impacts of BRT in the U.S. by conducting a case study on Lane Transit District’s EmX BRT service (Eugene, Oregon) using econometric modeling techniques to estimate changes in property values associated with the BRT. The analysis is based on hedonic price regression analysis, where sale prices are modeled using several property characteristics that contribute to the market or sale price. The findings of this research indicate that the EmX BRT system does positively impact surrounding single-family home sale prices. Results are statistically significant yet, as expected, relatively small in magnitude. An interesting finding is that the impact of the EmX stations on property values increased in each of the three periods examined in this study. For 2005 single-family home sales, the price increased $823 on average for every 100 meters closer to a station. In 2010, the marginal impact increased to an average of $1,056 for every 100 meters closer to a station. In 2016, every 100 meters closer to a station adds an average of $1,128 to a home’s sale price. These results provide further insight into how BRT services can enhance the livability and economic development in a community, and provide policymakers and the transit industry throughout the U.S. with the best information possible to make informed transit investment decisions in their communities. Title: Impacts of Bus Rapid Transit (BRT) on Surrounding Residential Property Values Author: Perk, Victoria, Catalá, Martin, Mantius, Maximillian, Corcoran, Katrina Year: 2017 As bus rapid transit (BRT) grows in popularity in the United States, a better understanding of the mode’s impacts on land uses and property values is needed. Economic theory suggests, and literature has shown, that people are willing to pay higher housing costs to lower their costs of transportation to areas of economic activity. Does high-quality BRT service reliably provide such access and, thereby, increase residential property values? The hypothesis is that property values are higher closer to BRT stations, reflecting a premium for the access provided by the BRT service to various goods, services, employment, education, and recreation. There has been some work on this topic outside of the U.S.; however, due to various cultural, social, and institutional differences, those experiences may not be applicable to U.S. property values. The literature includes, to date, very little work on U.S. BRT systems’ impacts on property values using robust econometric techniques and/or spatial modeling. Further, because every BRT system is different, it is necessary to analyze additional case studies to provide a more robust understanding of how modern U.S. experiences with BRT services may affect surrounding property values. This research contributes to the relatively small body of literature on property value impacts of BRT in the U.S. by conducting a case study on Lane Transit District’s EmX BRT service (Eugene, Oregon) using econometric modeling techniques to estimate changes in property values associated with the BRT. The analysis is based on hedonic price regression analysis, where sale prices are modeled using several property characteristics that contribute to the market or sale price. The findings of this research indicate that the EmX BRT system does positively impact surrounding single-family home sale prices. Results are statistically significant yet, as expected, relatively small in magnitude. An interesting finding is that the impact of the EmX stations on property values increased in each of the three periods examined in this study. For 2005 single-family home sales, the price increased $823 on average for every 100 meters closer to a station. In 2010, the marginal impact increased to an average of $1,056 for every 100 meters closer to a station. In 2016, every 100 meters closer to a station adds an average of $1,128 to a home’s sale price. These results provide further insight into how BRT services can enhance the livability and economic development in a community, and provide policymakers and the transit industry throughout the U.S. with the best information possible to make informed transit investment decisions in their communities. Close

• 2. [Article] Webinar: Economic Impacts from Bicycle and Pedestrian Street Improvements

  As many cities are investing in street improvements to provide better biking and walking experiences, the economic value and impacts of these active transportation facilities remain areas where many practitioners, ...

  Citation × Citation Citation Abstract Copy Title: Webinar: Economic Impacts from Bicycle and Pedestrian Street Improvements Author: Liu, Jenny H. Year: 2017 As many cities are investing in street improvements to provide better biking and walking experiences, the economic value and impacts of these active transportation facilities remain areas where many practitioners, planners and policy makers are seeking more conclusive evidence. With various modes competing for scarce resources, planners and transportation agencies often struggle with how to justify infrastructure investments for non-motorized modes, particularly when driving is still the predominant mode of transportation in most cities. In this project we assess property value impacts of Portland’s “Green Loop” signature bike infrastructure concept, illustrating the importance of considering both accessibility and extensiveness of bike facility networks. The Green Loop is a proposed 6-mile linear open space running through the heart of Portland, connecting existing and new open spaces, parks, gathering areas, and walking and biking pathways. As envisioned, the Green Loop concept requires significant infrastructure investments, and would result in both short-term and long-term impacts on transportation (for all travel modes), economic development and the environment. In collaboration with the Portland Bureau of Planning and Sustainability (BPS), the Portland State University Institute for Sustainable Solutions (ISS), and in partnership with PeopleForBikes and the Summit Foundation, the goal of this research is to characterize, quantify and analyze these costs, benefits and impacts, particularly focusing on case studies of similar infrastructure investments in active transportation. In this webinar, we will further focus on the residential property value impacts associated with advanced bike facilities. We find that proximity to advanced bike facilities has significant and positive effects on all property values, highlighting household preferences for high quality bike infrastructure. The lessons and research gaps identified in this work led to the development of two ongoing NITC-funded studies: "Understanding Economic and Business Impacts of Street Improvements for Bicycle and Pedestrian Mobility - A Multi-City Multi-Approach Exploration" and "Understanding the economic impacts of urban greenway infrastructure." We will share some updates on these ongoing projects as well. Key learning outcomes include: A framework for understanding the economic results of bicycle and pedestrian investments, with data to show: Evidence of impacts on residential property values Evidence of impacts on on business and retail activity Insight into potential short-term and long-term impacts of the Portland Green Loop A method for estimating economic impacts of similar proposed active transportation projects Title: Webinar: Economic Impacts from Bicycle and Pedestrian Street Improvements Author: Liu, Jenny H. Year: 2017 As many cities are investing in street improvements to provide better biking and walking experiences, the economic value and impacts of these active transportation facilities remain areas where many practitioners, planners and policy makers are seeking more conclusive evidence. With various modes competing for scarce resources, planners and transportation agencies often struggle with how to justify infrastructure investments for non-motorized modes, particularly when driving is still the predominant mode of transportation in most cities. In this project we assess property value impacts of Portland’s “Green Loop” signature bike infrastructure concept, illustrating the importance of considering both accessibility and extensiveness of bike facility networks. The Green Loop is a proposed 6-mile linear open space running through the heart of Portland, connecting existing and new open spaces, parks, gathering areas, and walking and biking pathways. As envisioned, the Green Loop concept requires significant infrastructure investments, and would result in both short-term and long-term impacts on transportation (for all travel modes), economic development and the environment. In collaboration with the Portland Bureau of Planning and Sustainability (BPS), the Portland State University Institute for Sustainable Solutions (ISS), and in partnership with PeopleForBikes and the Summit Foundation, the goal of this research is to characterize, quantify and analyze these costs, benefits and impacts, particularly focusing on case studies of similar infrastructure investments in active transportation. In this webinar, we will further focus on the residential property value impacts associated with advanced bike facilities. We find that proximity to advanced bike facilities has significant and positive effects on all property values, highlighting household preferences for high quality bike infrastructure. The lessons and research gaps identified in this work led to the development of two ongoing NITC-funded studies: "Understanding Economic and Business Impacts of Street Improvements for Bicycle and Pedestrian Mobility - A Multi-City Multi-Approach Exploration" and "Understanding the economic impacts of urban greenway infrastructure." We will share some updates on these ongoing projects as well. Key learning outcomes include: A framework for understanding the economic results of bicycle and pedestrian investments, with data to show: Evidence of impacts on residential property values Evidence of impacts on on business and retail activity Insight into potential short-term and long-term impacts of the Portland Green Loop A method for estimating economic impacts of similar proposed active transportation projects Close

• 3. [Article] On Both Sides of the Tracks: Light Rail and Gentrification in Portland, Oregon

  This study draws on census data and geographic information systems (GIS) to investigate the relationship between light rail transit (LRT) infrastructure development and gentrification in Portland, Oregon. ...

  Citation × Citation Citation Abstract Copy Title: On Both Sides of the Tracks: Light Rail and Gentrification in Portland, Oregon Author: Rochester, Nathan Eric Year: 2016 This study draws on census data and geographic information systems (GIS) to investigate the relationship between light rail transit (LRT) infrastructure development and gentrification in Portland, Oregon. While recent research using comprehensive measures of neighborhood socioeconomic status (SES) supports a potentially causal link between transit development and gentrification, research into the effects of transit on property values alone tends to dominate the discourse. This study therefore seeks to build on previous research to develop an index measure of neighborhood SES and SES change based on measures of education, occupation, and income, using census data from 1980-2010. This multifaceted measure of neighborhood SES is analyzed in relation to LRT access using correlation, OLS regression, and GIS hot spot and choropleth mapping. Findings: Throughout the study period, low SES neighborhoods largely disappeared from the City of Portland, while low-income households were gradually priced out. Simultaneously, the easternmost suburb of Gresham became more highly concentrated in low SES neighborhoods. No definitive relationship between LRT and SES is found along the Eastside Blue or Westside Blue Lines, but strong evidence is found supporting a positive effect of Yellow Line MAX development on the rapid gentrification of North Portland from 2000-2010. Regressions run on neighborhoods along the Yellow Line indicate that SES change was greatest for those that began the decade with large Black populations, low rents, and close proximity to stations. Findings are discussed through the theoretical framework of the urban growth machine, which suggests the differential relationship between LRT and neighborhood SES relates to the distinct values of different parts of the region for the pursuit of general growth goals. Title: On Both Sides of the Tracks: Light Rail and Gentrification in Portland, Oregon Author: Rochester, Nathan Eric Year: 2016 This study draws on census data and geographic information systems (GIS) to investigate the relationship between light rail transit (LRT) infrastructure development and gentrification in Portland, Oregon. While recent research using comprehensive measures of neighborhood socioeconomic status (SES) supports a potentially causal link between transit development and gentrification, research into the effects of transit on property values alone tends to dominate the discourse. This study therefore seeks to build on previous research to develop an index measure of neighborhood SES and SES change based on measures of education, occupation, and income, using census data from 1980-2010. This multifaceted measure of neighborhood SES is analyzed in relation to LRT access using correlation, OLS regression, and GIS hot spot and choropleth mapping. Findings: Throughout the study period, low SES neighborhoods largely disappeared from the City of Portland, while low-income households were gradually priced out. Simultaneously, the easternmost suburb of Gresham became more highly concentrated in low SES neighborhoods. No definitive relationship between LRT and SES is found along the Eastside Blue or Westside Blue Lines, but strong evidence is found supporting a positive effect of Yellow Line MAX development on the rapid gentrification of North Portland from 2000-2010. Regressions run on neighborhoods along the Yellow Line indicate that SES change was greatest for those that began the decade with large Black populations, low rents, and close proximity to stations. Findings are discussed through the theoretical framework of the urban growth machine, which suggests the differential relationship between LRT and neighborhood SES relates to the distinct values of different parts of the region for the pursuit of general growth goals. Close