Light Rail Proximity: Benefit or Detriment in the Case of Santa Clara County, California?

摘要: When the public sector sponsors projects to promote general welfare, disproportionate benefits or burdens often fall on individuals. In Santa Clara County, California, private property owners sued county for damages, claiming a burden due existence of light rail transit (LRT). By looking at rental rates commercial property, present research tests several hedonic specifications determine what effect, if any, LRT has proximate values. It also compares accessibility with highway as determinants rent. An understanding this effect allows make informed decisions in its defense against suits brought and other government entities respect building future systems. The results indicate that, when controlling factors, properties that lie within 0.8 km (0.5 mi) station command higher lease rate than county. control...