Train station at McCrimmon Pkwy : How will it effect real estate value? (Charlotte: houses, to live)
Raleigh, Durham, Chapel Hill, CaryThe Triangle Area
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I recently moved to Town Hall Common division in Morrisville, which is approx 1 mile from the proposed McCrimmon Station and I am not sure on how to react to the news of train station at McCrimmon Pkwy and NC 54 in year 2016.
My neighbors feel it will increase the value of Real Estate but I feel it will add more train traffic noise to existing airplane noise and eventually lower the home prices. I stayed in Atlanta and the residential area's surrounding most train stations are usually dotted with not so desirable people. I am not saying same might happen here, but just trying to consider all possible outcomes in long run.
I am just trying see what the mood/reaction of fellow Morrisville residents is?
I agree that it will drive up real estate prices. Look at the light rail in Charlotte and you can see how their crappy abandoned warehouse areas have been booming with development once the train stations were built.
Any Passenger Train line will cause housing prices to increase an extra 40-200,000$ depending on where the line goes. If it goes to a Job Hub such as NY or Charlotte then the line will cause prices to increase by a decent amount. Bus Stops also have a smaller increase affect depending on where the line goes.
This is interesting, I would have thought the opposite. That folks don't want to live next to train stations, with the noise, traffic, pollution, etc. I don't see the current Amtrak train stations doing any good for downtown Raleigh or downtown Cary.
I can understand home values going up if they are building a lot of retail, etc around the train station, but if this is just one little stop in Morrisville, then I don't think it would have that great of an effect.
Now I believe they are proposing a major transit center in downtown Raleigh where the Warehouse District is. In that case, I can see the abandoned warehouses around there being redeveloped and the district starting to boom.
This is interesting, I would have thought the opposite. That folks don't want to live next to train stations, with the noise, traffic, pollution, etc. I don't see the current Amtrak train stations doing any good for downtown Raleigh or downtown Cary.
That is because currently there are only three trains per day that run there. If you had actual commuter trains that ran regularly that people could use more than just on a whim, it would make a significant difference. Everywhere I have lived that has actual train service, not the token train service we have here, some of the most expensive real estate per sqft could be found within walking distance of the train stations.
some of the most expensive real estate per sqft could be found within walking distance of the train stations.
I think the answer depends on many factors. And there are many studies out there to research.
For example, how close you are to the train station, studies show you don't want to be right next to it.
Where did you live before?
Are these train stations you speak of in the middle of suburbs? or urban areas?
Did you live in a big city/metropolitan areas where there were places worth getting to by train?
And what else was around your train stations.
I've lived in the bay area next to BART stations. And in Dallas suburbs next to the recent DART high speed rail commuter lines. I can tell you there was absolutely no change in my property value. In fact, if not upkept, the area around train stations could deteriorate.
I really don't envision "most expensive real estate per sqft" or "40-200,000$" happening near a train station in the middle of Morrisville. I can, however, see it happening in our downtown urban areas.
Northeastern Region standard for Railroad towns...it varies depending on where the line goes...and how often service is...
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