The Impact of Hiawatha Light Rail on Commercial and Industrial Property Values in Minneapolis
The Impact of Hiawatha Light Rail on Commercial and Industrial Property Values in Minneapolis
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DOI：
10.5038/2375-0901.16.1.3
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发表时间：
2013-01-01
影响因子：
12.2
通讯作者：
Cao, Xinyu (Jason)
中科院分区：
文献类型：
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作者：
Ko, Kate;Cao, Xinyu (Jason)
在关于公共基础设施投资和经济发展之间关系的辩论中，临近交通对房地产价值的影响已成为一个关键问题。人们的注意力一直集中在住宅物业所获取的价值上，而对非住宅物业的研究要少得多。此外，很少有研究区分铁路通道的影响和进入后来成为车站地点的主要相互作用的影响，更没有研究可达性影响的梯度。本研究以企业区位选择的经济学理论为基础，利用海华达轻轨建成前后售出的物业数据，建立特征定价模型，以评估海瓦沙轻轨在商业及工业物业上的增值。结果显示，轻铁导致物业价格溢价显著。影响范围扩大到距离轻轨车站近0.9英里的地方。
The impact of proximity to transit on property values has become a key question in the debate on the relationships between public infrastructure investment and economic development. The focus has been on value captured by residential properties, with far fewer studies examining non-residential properties. Furthermore, few studies differentiate the effect of rail access and the effect of access to major interactions that later become station sites, and even fewer addressed the gradient of the accessibility effect. Based on the economic theory of firm location choice, this study develops hedonic pricing models to assess the value-added of the Hiawatha LRT on commercial and industrial properties, using data on properties sold before and after its completion. The results show that the LRT has induced a significant price premium for properties. nearby and that the impact extends to almost 0.9 miles away from LRT stations.