Description
Light and commuter rail transit stations have shown patters of benefitting land values throughout San Diego County. Transit-Oriented Development has been a big push by the San Diego Association of Government in the last decade and they have used numerous incentives for private investment aimed at the growing areas centered around transit. San Diego?s urbanization has been focused on transit-oriented development, as the first city to approve legislation that advocates for development near light-rail stops. Focusing and extending the work of Robert Cervero (2004), his theory holds that if there are finite supplies of land, people who want to locate near transit stations for living, working and leisure will drive up land prices. The focus of the study emphasizes two forms of transit rail transportation; light and commuter rail, and how they affect commercial and residential real estate in San Diego County. Transforming Cervero?s data to East County in San Diego, Santee reveals land market impacts of transit in a relatively new transit area. Analyzing land value benefits from transit lines in the Santee area will highlight the health of the local economy as well as reveal the relationship between transit-oriented development and the real estate market as a whole. Future public policy can be shaped by this study as well as shape and designate future development in the Santee area.
Transit Station Proximity and Residential Land Values
Light and commuter rail transit stations have shown patters of benefitting land values throughout San Diego County. Transit-Oriented Development has been a big push by the San Diego Association of Government in the last decade and they have used numerous incentives for private investment aimed at the growing areas centered around transit. San Diego?s urbanization has been focused on transit-oriented development, as the first city to approve legislation that advocates for development near light-rail stops. Focusing and extending the work of Robert Cervero (2004), his theory holds that if there are finite supplies of land, people who want to locate near transit stations for living, working and leisure will drive up land prices. The focus of the study emphasizes two forms of transit rail transportation; light and commuter rail, and how they affect commercial and residential real estate in San Diego County. Transforming Cervero?s data to East County in San Diego, Santee reveals land market impacts of transit in a relatively new transit area. Analyzing land value benefits from transit lines in the Santee area will highlight the health of the local economy as well as reveal the relationship between transit-oriented development and the real estate market as a whole. Future public policy can be shaped by this study as well as shape and designate future development in the Santee area.