Speeding improves economic resources, the study said

Speeding improves economic resources, the study said

Cleveland’s HealthLine has helped increase the value of nearby public family properties. Available: Wikimedia Commons / Public Domain

A new study shows that while fewer cities in the U.S. have high -end transportation systems, people see the benefits of nearby real estate.

Researchers have investigated the impact of high -speed (or BRT) systems on economic growth near 11 BRT systems in 10 U.S. cities, noting that previous research has found a negative impact. regular transportation services to nearby real estate and home. rent.

While the BRT has not had a negative impact in most of the cities studied, it has improved the economic well -being of large families in some cities such as Cleveland, which is perhaps an example of what could be done. other cities to follow, said Blake Acton, who led. studying as a graduate student at The Ohio State University.

“What we saw in Cleveland was new and much needed, and people really wanted to stay close to the BRT system there,” Acton said. “That demonstrates the potential to build a premium BRT industry and spur transit-oriented development in the United States.”

The study was published in Journal of Transport Geography.

“Our results show that areas close to BRT systems in developing cities with high traffic levels are more likely to see an increase in value,” said researcher Harvey Miller. , global physician and director of the Center for Urban and Regional Analysis at Ohio State. “But higher BRT could have positive effects in more cities.”

BRT is being separated from the traditional public transport service by seeking to provide faster and more efficient service through facilities such as dedicated routes for cars, more service. , the focus of the vehicle’s branding, off -the -shelf collection, high -rise platforms and expansion centers.

However, most BRT systems in the United States lack – most importantly, dedicated railways – and are often referred to as “BRT -lite.” In contrast, high -speed BRT systems have dedicated routes.

BRT was popular around the world at the turn of the century, but only 438 of these systems exist in the U.S. today – about 8.2% of the world’s system length.

“BRT is all over the world, not just big mega cities,” Acton said. “BRT can connect areas that are accessible in cities that are very isolated.”

By comparing the pre- and post-effect impact of BRT systems in 10 cities across the United States on economic price data from 1990-2016, the study was able to conclude that it is not consistent. with traditional public transport services, BRT routes don’t always lack efficiency. property. In the Cleveland area, the study looked at BRT systems in Seattle, Eugene (Oregon), Oakland, Los Angeles, Kansas City, Chicago, Pittsburgh, Boston and Miami. The study also focused on changing community types such as race, income, education, and close proximity to jobs and green spaces. The results show that three of the 11 BRT systems saw an increase in value near the hubs, one system decreased and the remaining seven did not show significant changes.

BRT can improve the value of public housing, the study finds.

“We created separate models where we looked at single -family properties and multiple family properties, in places that were large enough to do that in the city,” Acton said. “When we look at Cleveland, we see a big difference between the two.”

Their findings show that while single -family homes in the Cleveland Healthline system did not experience any change in their properties, public households saw a 41.5% increase in their property value, compared. with properties found in similar locations at a distance.

Acton said the results show that motor vehicle systems can have the best impact on their immediate community.

Researchers say Cleveland Healthline’s service’s commitment to increasing productivity is based on the fact that it works on the highway, it dedicates driveways, and it has access to traffic. a $ 7 billion of new investments, including major roads. try again. That helped lead to a 138% increase in passengers compared to the modified car service.

Public family property is likely to be the main benefit of the increase in economic value related to BRTs as these vehicles will be easier to travel without a car and therefore will strengthen the economy. castle.

Evidence also showed that a BRT garage could be more beneficial than the community, Miller said.

“The only time BRT will damage real estate is if you have stations surrounded by cars.

Overall, research results show that BRT, if done correctly, can strengthen infrastructure and improve certain economic assets, Miller said.

“Public transportation is the backbone of any public transportation system.

The real estate market shows an increase in value when it is close to the train station

More information:
Blake Acton et al, The effects of high -speed transportation (BRT) on residential properties: A comparative review of US 11 BRT systems, Journal of Transport Geography (2022). DOI: 10.1016 / j.jtrangeo.2022.103324

Presented by The Ohio State University

Directions: Rapid transport improves economic growth, study says (2022, April 4) retrieved April 4, 2022 from https://phys.org/news/2022-04-bus-rapid-transit -property-values.html

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