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• 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