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The impact of mixes of transportation options on residential property values: Synergistic effects of walkability
Cities ( IF 6.0 ) Pub Date : 2021-01-15 , DOI: 10.1016/j.cities.2020.103080
Kwangyul Choi , Han John Park , Jim Dewald

Calgary offers many public transportation options, including light rail transit (LRT), bus rapid transit (BRT), and local buses as well as facilities for non-motorized travelers. Yet the individual and synergistic effects of these mobility options on residential property values in Calgary have not been clearly understood. By using a multilevel hedonic modeling approach, we examine the independent and interactive economic impacts of different transportation options on Calgary's residential properties in 2017. Our findings suggest that proximity to LRT and better neighborhood walkability can appreciate residential property values, whereas proximity to major roads and bus service tend to depreciate the values, although the degree and significance vary by property type. When proximity to LRT is coupled with high walkability, more appreciation of property values is expected, particularly in the case of attached houses and apartment properties. Our results imply that urban planners and city officials should strive to create safe and pedestrian-friendly environments near LRT stations that could lead to more dynamic civic activities.



中文翻译:

运输方式的混合对住宅物业价值的影响:步行性的协同效应

卡尔加里提供许多公共交通选择,包括轻轨交通(LRT),快速公交(BRT)和当地公交车以及非机动旅客的设施。然而,这些流动性选项对卡尔加里住宅物业价值的个体和协同作用尚未明确了解。通过使用多级享乐主义建模方法,我们研究了2017年卡尔加里住宅物业不同交通方式对独立和互动的经济影响。我们的研究结果表明,靠近轻轨和更好的社区可步行性可以欣赏住宅物业的价值,而靠近主要道路和尽管程度和重要性因物业类型而异,但公交服务倾向于贬值。与LRT的接近性和较高的步行性相结合时,预计会有更多的财产价值升值,特别是在附带房屋和公寓财产的情况下。我们的结果表明,城市规划者和城市官员应努力在轻轨站附近创造安全和行人友好的环境,这可能导致市民活动更加活跃。

更新日期:2021-01-16
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