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NYC 9/11 Public Portal Document

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How NYSTA Relates to Literature and Historical Work Extant studies of a multiple regression nature concerning the relationship of land value to access of public services, including transit, have varied greatly in complexity.- In earlier years, a greater preponderance of studies were performed on property value impacts of interstate highway or urban expressway access. In more recent years, in addition to transit applications, multiple regression models have determined the land value impacts of access i! to urban parks and recreational areas. Various approaches with respect to transit and open space are summarized as illustrative of related work. i At the simplest level, study of the Philadelphia-Lindenwold i High Speed Line by Boyce, Allen, Mudge, et. al. (1972) used statistical techniques to consider only one residential land use and one distance measure for a seven-year period of change in housing property values that occurred prior to, during and after t t contruction of a new commuter rapid transit line. The analysis, i which compared results for the impact corridor with a control corridor, concluded that travel cost and time savings benefits of the Line were reflected in prices of single family houses in the impact corridor once the Line was in use, not in anticipation of its development. At the intermediate level, the Washington, D.C. Metro study by I Lerman, et. al. (1978), conducted over the period of the system's development, used multivariate regression analysis to consider three land use types (single family, multifamily, retail) and two distance variables (to the station and to the CBD), along with appropriate independent variables to explain urban property values. Major conclusions of the analysis were that distance to a station t ! was a determinant of variation in parcel values in the District, although non-transit related variables exerted greater influence over real estate values. With proximity to the opening date of stations, parcel values tended to increase, and the study produced estimates of the impact of new stations on land value in advance of opening. Subsequent to the Washington, D.C. Metro study, Ferguson (1984) empirically determined the impact of the Advanced Light Rapid Transit (ALRT) system under construction in Vancouver, British Columbia, on pre-service single family property values, using multiple regression analysis on real estate transactions in the corridor and a control area. Results showed that station locations affected housing values as much as three years prior to operation, and that the house-buying market was paying higher prices for homes closer to future stations- Other studies of new transit lines or systems, performed bothI before and after implementation, include Dewees' (1976) multivariate regression analysis of the impact on property values of replacing an existing

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