NYC-WTC_000187725

NYC 9/11 Public Portal Document

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For stations characterized by poor performance, or fewer than 70% of trains on time, an inclining land value gradient is expressed around stations, though the variable (WDST) and others in the relationship (ADW, WDP, EMP) are not statistically significant:

RATLSP_Ai <70% = 14.964496 + 0.104326(WDST) ~ 0.169014(ADW) ' (.5816) (4328) + 0.258649(WDP) - 2.411789(POVERTY) (.2152) (.0107) - 0.035875(EMP) + 0.853427(MIDTM) (.8816) (1226) - 4.469728(DNTM) + 1.562422(CRIME rape) (.0041) (.0001) r2 = .2639 As Figure 3.7 shows at 400 meters, or one quarter mile from a transit station, the unit land values around poor performance stations will have risen by $57 per square foot above station area values, while those around good performance stations will have declined by $118 per square foot of land area. The land value benefit conferred by good on-time performance is greater than that of frequent train service but less than that of express/transfer/ terminal service at the station.

New Versus Rehabilitated Cars on Line Where transit access is provided by stations on subway lines that utilize new cars, or a high proportion of rehabilitated cars, the land value gradient from the station declines steeply with distance. This benefit compares to that of stations with no new cars in service, where land value inclines with distance from the station, and to stations where a lower proportion of the fleet consists of rehabilitated cars in service. In the latter case, the land value gradient declines less steeply from the station. For stations characterized by new car service, the declining land value gradient around the station is expressed as:

RATLSP_Ai new= 5.166884 - 0.153044(WDST) - 0.108769(ADW) ' (.0001) (.0024) - 0.046117(WDP) - 0.748346(POVERTY) (.2058) (.0001) + 0.251264(EMP) - 0.318351(MIDTM) (.0001) (.0009) - 0.256777(DNTM) - 0.078897(CRIME rape) (.0008) (.0531) r2 = .1100

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