Search

Search Results

• 1. [Article] Retail Rent with Respect to Distance from Light Rail Transit Stations in Dallas and Denver

  A growing body of recent research is challenging the assumptions underlying the half-mile-circle in planning for development around transit stations. In this article we review this literature and extend ...

  Citation × Citation Citation Abstract Copy Title: Retail Rent with Respect to Distance from Light Rail Transit Stations in Dallas and Denver Author: Nelson, Arthur C., Eskic, Dejan, Ganning, Joanna P., Hamidi, Shima, Petheram, Susan J., Liu, Jenny H., Ewing, Reid Year: 2015 A growing body of recent research is challenging the assumptions underlying the half-mile-circle in planning for development around transit stations. In this article we review this literature and extend it to include retail land uses. We estimate the rent premium conferred on retail properties in metropolitan Dallas and metropolitan Denver, both of which have extensive light rail transit systems. We find that consistent with half-mile-circle assumptions, retail rent premiums extend only to about 0.30 mile from transit stations with half the premium dissipating after a few hundred feet and three quarters within the first 0.10 mile. We offer implications for planners and public officials. Title: Retail Rent with Respect to Distance from Light Rail Transit Stations in Dallas and Denver Author: Nelson, Arthur C., Eskic, Dejan, Ganning, Joanna P., Hamidi, Shima, Petheram, Susan J., Liu, Jenny H., Ewing, Reid Year: 2015 A growing body of recent research is challenging the assumptions underlying the half-mile-circle in planning for development around transit stations. In this article we review this literature and extend it to include retail land uses. We estimate the rent premium conferred on retail properties in metropolitan Dallas and metropolitan Denver, both of which have extensive light rail transit systems. We find that consistent with half-mile-circle assumptions, retail rent premiums extend only to about 0.30 mile from transit stations with half the premium dissipating after a few hundred feet and three quarters within the first 0.10 mile. We offer implications for planners and public officials. Close

• 2. [Article] Office Rent Premiums With Respect To Distance From Light Rail Transit Stations In Dallas And Denver

  It seems an article-of-faith that real estate markets respond more favorably to location within one-half mile of transit stations. Planning and public decision-makers have thus drawn half-mile (or smaller) ...

  Citation × Citation Citation Abstract Copy Title: Office Rent Premiums With Respect To Distance From Light Rail Transit Stations In Dallas And Denver Author: Nelson, Arthur C., Eskic, Dejan, Ganning, Joanna P., Hamidi, Shima, Petheram, Susan J., Liu, Jenny H., Ewing, Reid Year: 2015 It seems an article-of-faith that real estate markets respond more favorably to location within one-half mile of transit stations. Planning and public decision-makers have thus drawn half-mile (or smaller) circles around rail transit stations assuming larger planning areas would not be supported by the evidence. Recent research, however, has shown market-responsiveness well beyond one-half mile. We contribute to this literature by evaluating the distance-decay function of office rents in metropolitan Dallas and Denver with respect to light rail transit (LRT) station distance. Using a quadratic transformation of distance we find office rent premiums extending in the range of two miles away from LRT stations with half the premium dissipating at about two-thirds on one mile and three quarters dissipating at about one mile. We offer planning and policy implications including the need to expand LRT station planning areas, perhaps considerably. Title: Office Rent Premiums With Respect To Distance From Light Rail Transit Stations In Dallas And Denver Author: Nelson, Arthur C., Eskic, Dejan, Ganning, Joanna P., Hamidi, Shima, Petheram, Susan J., Liu, Jenny H., Ewing, Reid Year: 2015 It seems an article-of-faith that real estate markets respond more favorably to location within one-half mile of transit stations. Planning and public decision-makers have thus drawn half-mile (or smaller) circles around rail transit stations assuming larger planning areas would not be supported by the evidence. Recent research, however, has shown market-responsiveness well beyond one-half mile. We contribute to this literature by evaluating the distance-decay function of office rents in metropolitan Dallas and Denver with respect to light rail transit (LRT) station distance. Using a quadratic transformation of distance we find office rent premiums extending in the range of two miles away from LRT stations with half the premium dissipating at about two-thirds on one mile and three quarters dissipating at about one mile. We offer planning and policy implications including the need to expand LRT station planning areas, perhaps considerably. Close

• 3. [Article] But do Lower-Wage Jobs Follow? Comparing Wage-Based Outcomes of Light Rail Transit to Control Corridors

  Literature suggests that rail transit improvements should be associated with more jobs and perhaps increasing share of jobs in a metropolitan area. Literature and some research also suggest that such improvements ...

  Citation × Citation Citation Abstract Copy Title: But do Lower-Wage Jobs Follow? Comparing Wage-Based Outcomes of Light Rail Transit to Control Corridors Author: Nelson, Arthur C., Miller, Matt, Eskic, Dejan, Ganning, Joanna P., Liu, Jenny H., Ewing, Reid Year: 2015 Literature suggests that rail transit improvements should be associated with more jobs and perhaps increasing share of jobs in a metropolitan area. Literature and some research also suggest that such improvements should increase the number of lower-wage jobs accessible to transit. In this paper, we assess both in the context of all 11 light rail transit systems built in metropolitan areas of fewer than eight million residents in the nation since 1981. Using census block-level job data over the period 2002 to 2011, we evaluate change in jobs and change in metropolitan area job share for all jobs, and lower- and upper-wage jobs for selected light rail transit (LRT) corridors and comparable corridors in each of these 11 metropolitan areas. Overall, we find little difference between the LRT and control corridors in both attracting new jobs and new lower-wage jobs, or in changing relative share of jobs compared to their metropolitan areas, though systems built since 2004 appear to have fared slightly better in both respects. We view these results as generally supportive of LRT employment-related objectives. Planning and policy implications are offered. Title: But do Lower-Wage Jobs Follow? Comparing Wage-Based Outcomes of Light Rail Transit to Control Corridors Author: Nelson, Arthur C., Miller, Matt, Eskic, Dejan, Ganning, Joanna P., Liu, Jenny H., Ewing, Reid Year: 2015 Literature suggests that rail transit improvements should be associated with more jobs and perhaps increasing share of jobs in a metropolitan area. Literature and some research also suggest that such improvements should increase the number of lower-wage jobs accessible to transit. In this paper, we assess both in the context of all 11 light rail transit systems built in metropolitan areas of fewer than eight million residents in the nation since 1981. Using census block-level job data over the period 2002 to 2011, we evaluate change in jobs and change in metropolitan area job share for all jobs, and lower- and upper-wage jobs for selected light rail transit (LRT) corridors and comparable corridors in each of these 11 metropolitan areas. Overall, we find little difference between the LRT and control corridors in both attracting new jobs and new lower-wage jobs, or in changing relative share of jobs compared to their metropolitan areas, though systems built since 2004 appear to have fared slightly better in both respects. We view these results as generally supportive of LRT employment-related objectives. Planning and policy implications are offered. Close

• 4. [Article] Do TODs Make a Difference?

  In this report, we present research that measures the outcomes of TOD areas in relation to their metropolitan area controls with respect to (1) jobs by sector; (2) housing choice for household types based ...

  Citation × Citation Citation Abstract Copy Title: Do TODs Make a Difference? Author: Nelson, Arthur C., Miller, Matt, Eskic, Dejan, Kim, Keuntae, Ewing, Reid, Liu, Jenny H., Berggren, Matt, Mumuni, Zakari Year: 2015 In this report, we present research that measures the outcomes of TOD areas in relation to their metropolitan area controls with respect to (1) jobs by sector; (2) housing choice for household types based on key demographic characteristics; (3) housing affordability based on transportation costs; and (4) job-worker balance as a measure of accessibility. Prior literature has not systematically evaluated TOD outcomes in these respects with respect to light rail transit (LRT), commuter rail transit (CRT), bus rapid transit (BRT), and streetcar transit (SCT) systems. Our analysis helps close some of these gaps. We apply our analysis to 23 fixed-guideway transit systems operating in 17 metropolitan areas in the South and West that have one or more of those systems. We find: (1) Most TOD areas gained jobs in the office, knowledge, education, health care and entertainment sectors, adding more than $100 billion in wages capitalized over time; (2) In assessing economic resilience associated with LRT systems, jobs continued to shift away from TOD areas before the Great Recession, the pace slowed during the recession but reversed during recovery, leading us to speculate that LRT TOD areas may have transformed metropolitan economies served by LRT systems; (3) Rents for offices, retail stores and apartments were higher when closer to SCT systems, had mixed results with respect LRT systems, but were mostly lower with respect to CRT systems (our BRT sample was too small to evaluate); (4) SCT systems performed best in terms of increasing their TOD-area shares of metropolitan population, households and householders by age, housing units, and renters with BRT systems performing less well while LRT and CRT systems experienced a much smaller shift in the share of growth; (5) Household transportation costs as a share of budgets increase with respect to distance from LRT transit stations to seven miles, suggesting the proximity to LRT stations reduces total household transportation costs; (6) Emerging trends that may favor higher-wage jobs locating in TOD areas over time than lower- or middle-wage jobs, perhaps because TOD areas attract more investment which requires more productive, higher-paid labor to justify the investment; and (7) The share of workers who commute 10 minutes or less to work increases nearly one-half of 1 percent for each half-mile their resident block group is to an LRT transit station, capping at a gain of 1.3 percent, which is not a trivial gain. Our report summarizes case studies of 23 transit systems and three journal articles based on our research. Title: Do TODs Make a Difference? Author: Nelson, Arthur C., Miller, Matt, Eskic, Dejan, Kim, Keuntae, Ewing, Reid, Liu, Jenny H., Berggren, Matt, Mumuni, Zakari Year: 2015 In this report, we present research that measures the outcomes of TOD areas in relation to their metropolitan area controls with respect to (1) jobs by sector; (2) housing choice for household types based on key demographic characteristics; (3) housing affordability based on transportation costs; and (4) job-worker balance as a measure of accessibility. Prior literature has not systematically evaluated TOD outcomes in these respects with respect to light rail transit (LRT), commuter rail transit (CRT), bus rapid transit (BRT), and streetcar transit (SCT) systems. Our analysis helps close some of these gaps. We apply our analysis to 23 fixed-guideway transit systems operating in 17 metropolitan areas in the South and West that have one or more of those systems. We find: (1) Most TOD areas gained jobs in the office, knowledge, education, health care and entertainment sectors, adding more than $100 billion in wages capitalized over time; (2) In assessing economic resilience associated with LRT systems, jobs continued to shift away from TOD areas before the Great Recession, the pace slowed during the recession but reversed during recovery, leading us to speculate that LRT TOD areas may have transformed metropolitan economies served by LRT systems; (3) Rents for offices, retail stores and apartments were higher when closer to SCT systems, had mixed results with respect LRT systems, but were mostly lower with respect to CRT systems (our BRT sample was too small to evaluate); (4) SCT systems performed best in terms of increasing their TOD-area shares of metropolitan population, households and householders by age, housing units, and renters with BRT systems performing less well while LRT and CRT systems experienced a much smaller shift in the share of growth; (5) Household transportation costs as a share of budgets increase with respect to distance from LRT transit stations to seven miles, suggesting the proximity to LRT stations reduces total household transportation costs; (6) Emerging trends that may favor higher-wage jobs locating in TOD areas over time than lower- or middle-wage jobs, perhaps because TOD areas attract more investment which requires more productive, higher-paid labor to justify the investment; and (7) The share of workers who commute 10 minutes or less to work increases nearly one-half of 1 percent for each half-mile their resident block group is to an LRT transit station, capping at a gain of 1.3 percent, which is not a trivial gain. Our report summarizes case studies of 23 transit systems and three journal articles based on our research. Close