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Old 02-16-2013, 06:59 AM
Status: "Summer!" (set 20 days ago)
 
Location: Foot of the Rockies
87,006 posts, read 102,606,536 times
Reputation: 33064

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Quote:
Originally Posted by Geologic View Post
That's one way to look at it.
Another way, is to consider what a successful Transit station can do to property values - it can double or triple them, raising more taxes for the city. Would it be right to pass back some of those revenues to subsidise the mass transit system?

This is most important at the Capital Expenditures stage. Once a rail system is built, it may require less maintenance expenditure (per person moved) than a highway.

Just saying... these are things that should be part of the analysis.
Just wanted to say, I. . . don't. . . think. . . so!

 
Old 02-16-2013, 08:02 AM
 
Location: Hong Kong
1,329 posts, read 873,136 times
Reputation: 217
Quote:
Originally Posted by Katiana View Post
Just wanted to say, I. . . don't. . . think. . . so!
??
You don't think a success transit station can double or triple property values?
Of course it can... and has, in cities where I have lived.
But there are many "issues" that need addressing for that to be possible.
 
Old 02-16-2013, 08:13 AM
Status: "Summer!" (set 20 days ago)
 
Location: Foot of the Rockies
87,006 posts, read 102,606,536 times
Reputation: 33064
Quote:
Originally Posted by Geologic View Post
??
You don't think a success transit station can double or triple property values?
Of course it can... and has, in cities where I have lived.
But there are many "issues" that need addressing for that to be possible.
No, I do not think a transti station nearby, no matter how successful, can double or triple property values. Perhaps you'd like to give a couple of examples.
 
Old 02-16-2013, 08:44 AM
 
Location: North Baltimore ----> Seattle
6,473 posts, read 11,104,114 times
Reputation: 3117
Quote:
Originally Posted by Katiana View Post
Just wanted to say, I. . . don't. . . think. . . so!
It does happen but it is the exception, not the rule. Generally existing residential property within 1/4-3/4 mile of a station does see a substantial increase, so long as we're talking about a well used, frequent transit like. If I remember correctly from my research, residential properties that are very close to the train station also are likely to increase in value, but sometimes not at as high a rate (perhaps due to an annoyance factor). Commercial property near a new station skyrockets.
 
Old 02-16-2013, 08:49 AM
Status: "Summer!" (set 20 days ago)
 
Location: Foot of the Rockies
87,006 posts, read 102,606,536 times
Reputation: 33064
Quote:
Originally Posted by HandsUpThumbsDown View Post
It does happen but it is the exception, not the rule. Generally existing residential property within 1/4-3/4 mile of a station does see a substantial increase, so long as we're talking about a well used, frequent transit like. If I remember correctly from my research, residential properties that are very close to the train station also are likely to increase in value, but sometimes not at as high a rate (perhaps due to an annoyance factor). Commercial property near a new station skyrockets.
I don't doubt these properties may increase in value d/t being close to a transit station; I'm disputing the 2-3 fold increase. A 200,000 home doesn't suddenly become worth 400,000-600,000. Commercial property I can understand.
 
Old 02-16-2013, 08:51 AM
nei nei won $500 in our forum's Most Engaging Poster Contest - Thirteenth Edition (Jan-Feb 2015). 

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Location: Long Island / NYC
45,989 posts, read 41,979,923 times
Reputation: 14805
Quote:
Originally Posted by Katiana View Post
I don't doubt these properties may increase in value d/t being close to a transit station; I'm disputing the 2-3 fold increase. A 200,000 home doesn't suddenly become worth 400,000-600,000. Commercial property I can understand.
I found a number of examples between 20-40%, there's probably a higher example somewhere dunno if it would be as high as 2x, especially if we're excluding commercial property.
 
Old 02-16-2013, 08:58 AM
 
Location: North Baltimore ----> Seattle
6,473 posts, read 11,104,114 times
Reputation: 3117
Quote:
Originally Posted by Katiana View Post
I don't doubt these properties may increase in value d/t being close to a transit station; I'm disputing the 2-3 fold increase. A 200,000 home doesn't suddenly become worth 400,000-600,000. Commercial property I can understand.
Yeah. The 2 and 3 fold increases ive seen occur in undervalued neighborhoods that suddenly attract more attention due to the addition of the transit.

It's gotta be good service though.
 
Old 02-16-2013, 09:00 AM
 
Location: North Baltimore ----> Seattle
6,473 posts, read 11,104,114 times
Reputation: 3117
Quote:
Originally Posted by nei View Post
I found a number of examples between 20-40%, there's probably a higher example somewhere dunno if it would be as high as 2x, especially if we're excluding commercial property.
Jeez, I would love a 20-40% increase in my pv.
 
Old 02-16-2013, 09:01 AM
nei nei won $500 in our forum's Most Engaging Poster Contest - Thirteenth Edition (Jan-Feb 2015). 

Over $104,000 in prizes has already been given out to active posters on our forum and additional contests are planned
 
Location: Long Island / NYC
45,989 posts, read 41,979,923 times
Reputation: 14805
Quote:
Originally Posted by HandsUpThumbsDown View Post
Yeah. The 2 and 3 fold increases ive seen occur in undervalued neighborhoods that suddenly attract more attention due to the addition of the transit.
Care to list examples? I'm curious. Though it sounds like transit was one of many factors, perhaps the initial boost.
 
Old 02-16-2013, 09:03 AM
nei nei won $500 in our forum's Most Engaging Poster Contest - Thirteenth Edition (Jan-Feb 2015). 

Over $104,000 in prizes has already been given out to active posters on our forum and additional contests are planned
 
Location: Long Island / NYC
45,989 posts, read 41,979,923 times
Reputation: 14805
Quote:
Originally Posted by HandsUpThumbsDown View Post
Jeez, I would love a 20-40% increase in my pv.
Personally, look at prices, in my self-interest, I'd like property values to go down 20-40%. Judging by the recession, seems like that would be unpleasant.
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