NYC-WTC_000187725

NYC 9/11 Public Portal Document

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For stations characterized by no new car service, the inclining land value gradient around the station is expressed as:

RATLSP_Ai nonew = 7.935736 + 0.017872(WDST) - 0.091932(ADW) ' (.8205) - (.1723) - 0.134116(WDP) - 0.631724(POVERTY) (.0422) (.0003) + 0.182023(EMP) - 1.177214(MIDTM) (.1116) (.0001) - 0.493342(DNTM) - 0.260510(CRIME,■rape) (.0025) (.0258) r2 = .3473

As Figure 3-8 shows, at 400 meters or one quarter mile from a transit station, the value of land accessible to stations with new car service is $56 less per square foot than at the station, while the value of land accessible to stations without new car service is $15 more per square foot than at the station. Compared to stations with rehabilitated cars in service, the availability of new cars on lines creates little additional benefit capitalized into land value than does a high proportion of rehabilitated stock in service. For stations served by a high proportion of rehabilitated cars in service, the declining land value gradient around the station (as based upon 25-49% rehabilitated cars) is best expressed as;

RATLSP_Ai,25% 3.441550 - 0.139301(WDST) + 0.061075(ADW) (.0432) (.3382) - 0.058836(WDP) - 0.837717(POVERTY) (.3476) (.0001) + 0.446294(EMP) - 0.668640(MIDTM) (.0001) (.0001) - 0.021563 (DNTM) - 0.149987 (CRIME.’rape) (.8679) (.0130) r2 = .2457

For stations served by a low proportion of rehabilitated cars in service, the less steeply declining land value gradient around the station (as based upon 1-24% rehabilitated cars) is best expressed as:

i

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NYC-WTC_000187813