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Smart Growth Makes Money: Transit Oriented Development

Smart Growth Makes Money: Transit Oriented Development. Smart Growth Adds Value to Real Estate Around Transit Stations. [Picture of TOD]. Portland Streetcar & Mixed-use TOD. Ballston Metro Station in Arlington, VA. Images courtesy of EPA Smart Growth.

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Smart Growth Makes Money: Transit Oriented Development

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  1. Smart Growth Makes Money:Transit Oriented Development

  2. Smart Growth Adds Valueto Real Estate Around Transit Stations • [Picture of TOD] Portland Streetcar & Mixed-use TOD Ballston Metro Station in Arlington, VA Images courtesy of EPA Smart Growth

  3. Smart Growth Adds Valueto Real Estate Around Transit Stations A summary of the findings on transit’s impacts on land values:

  4. Denver, CO: Home Values Increase near Transit

  5. Smart Growth Adds Valuein Rail Station Areas Price premiums within ½ mile of rail transit stations

  6. Smart Growth Adds Valueto Commercial Property near Transit • Santa Clara County, CA: Commercial land value within ¼ mile of commuter rail stations increased 120%; for light rail, values increased 23%. • Dallas: Office building values increased within ¼ mile of DART increased 24.7% in Value. • Washington D.C.: Commercial property value increased $2.30/sq.ft. with each 1,000 ft. reduction in distance to a rail station. • San Diego: Commercial properties near Coastal Commuter Rail Stations command a 91% price premiums. Premiums for condominiums and single family homes are 46% and 17%, respectively.

  7. Smart Growth Adds Valueto Commercial Property throughout the Region • Properties near transit in the suburbs were found to have a 12.7% higher net income, 16.2% higher market values, 0.3% lower cap rates, 1.1% higher annual appreciation and 0.9% higher annual total returns. • Properties near transit in Commercial Business Districts had 4.5% higher net incomes, 10.4% higher market values, and 0.2% lower cap rates.

  8. Case Study: StreetcarsPrivate Returns on Public Investment *in millions of dollars Source: “Street Smart: Streetcars and Cities in the Twenty-First Century,” The American Public Transportation Association and the Community Streetcar Coalition (2009).

  9. Case Study: StreetcarAll Types of Properties Gain Value

  10. Smart Growth Adds ValueTransit in Rural Areas • The estimated annual impact of rural public transportation on the national economy as of 1998 was over $1.2 billion. • Rural counties with public transportation service were found to have 11 percent greater average growth of net earnings compared with counties without it.

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