This week came new research from Georgia Tech looking at the value of homes near Atlanta’s BeltLine project. Atlanta is planning to build 22 miles of streetcar line parallel to the popular bike and walking trail, and housing prices near the project are rising faster than the rest of the city. Georgia Tech professor Dan Immergluck found that properties within half a mile of the BeltLine rose 50 to 60 percent between 2012 and 2015, compared to 30 percent elsewhere in the city.
Transit investments anywhere can increase property values nearby, and forward-thinking transit agencies have come up with ways to use that value before and after a new project is completed. In Capturing the Value of Transit, our featured resource from our TODresources.org this week, author Nadine Fogarty writes about the conditions necessary for creating value, the land value premium and developer opportunities that result from the creation of access due to a property’s location, and some different mechanisms for capturing increases in value.
Recent news about TOD:
- BeltLine Housing Prices Rose Faster Than Those Elsewhere In Atlanta — WABE
- Surrounding real estate shows increase in value if near transit station — Phys.org
- Seattle council approves big U District upzone — Seattle Times
- Brookhaven’s MARTA transit oriented development still on the table after all — Curbed Atlanta
- Slager putting finishing touches on transit-oriented development plan — Northwest Indiana Times
- Let’s boost transit-oriented development – Commonwealth Magazine
- Philly Council members propose plan to boost development near transit stops — Philadelphia Inquirer
- Transit-oriented projects aim to catalyze 18th Street, East Village – Kansas City Business Journal
- Proposals sought for Donelson transit development — The Tennessean
- Upcoming demolition on Belmont will clear way for new Lakeview TOD – Curbed Chicago
- Massive transit-oriented housing project in Elyria-Swansea could build 560 homes near stock show – Denver Post