A new NITC report examines the property value impacts of Lane Transit District’s Emerald Express (EmX), a Bus Rapid Transit, or BRT, system that connects downtown Eugene to Springfield, Oregon.
BRT is often seen as an economically powerful transit option, providing high-speed service with a generally lower price tag than a light rail system. It seems intuitive that a location-efficient area, with transportation access boosted by BRT, would be an economically desirable place to live; offering access to jobs, shopping and other destinations. Little research, however, has been done recently in the United States examining to what extent BRT affects property values.
The goal of the latest NITC study, led by Victoria Perk and Martin Catalá of the Center for Urban Transportation Research at the University of South Florida in partnership with Lane Transit District and the Florida Department of Transportation, was to provide a more robust understanding of how BRT services in the U.S. affect surrounding residential property values.
The final report, Impacts of Bus Rapid Transit (BRT) on Surrounding Residential Property Values, found that the EmX line had a statistically significant positive impact on property values, which stands to benefit the...Read more