NYC-WTC_000187725

NYC 9/11 Public Portal Document

I Kt 90 I For stations with low crowding ratios, a shallow declining land value gradient is shown around stations — comparable to that 3 surrounding the system's oldest transit stations though the relationship is not statistically significant. Other independent s variables have coefficients with questionable signs in the A equation. The relationship is expressed as:

RATLSP_Ai,lc = 1.901604 - 0.029632(WDST) - 0.080571(ADW) (.6476) (.1814) + 0.007595(WDP) - 0.700934(POVERTY) (.8979) (.0001) It' + 0.431639(EMP) - 0.054255(MIDTM) (.0001) (.8027) - 0.068809(DNTM) - 0.109566(CRIME rape J (.6783) (.2669) r2 = .0962

As Figure 3.11 shows, at 400 meters or one quarter mile from a station, the loss in land value with declining access to transit characterized by high crowding ratios, or low levels of comfort, is it $131 per square foot of land area. By comparison, stations with moderate crowding ratios or some standees on the train service are 1 associated with a $44 loss in land value at the distance of one quarter mile from the station, while a low crowding ratio (or a li high level of comfort) explains relatively little change in land l! value around the stations, or $10 per square foot at one quarter mile from the station. I

Types of Simulation f NYSTA can be utilized independently, or in conjunction with NYREG which would serve as a driver or predictor of change in transit ridership or land use demand. Used independently, NYSTA F’ can be applied to conditions around specific transit stations, or to the entire landscape of land value and development patterns ! within walking distance of stations in the transit service ’F territory. The applications can be either to existing conditions, to determine the underlying land value attributable to existing transit access, or to proposed changes in transit operating characteristics or site conditions, to determine the incremental or r•it'' decremental value added. Despite the fact that NYSTA equations and graphs present citywide averages in property values, and that divergent values exist for each site simulated, the slope of h equations can be superimposed upon site conditions to adjust for underlying value differences. In the future, equations calibrated for boroughs and corridors will improve this fit. a 1

CITY_21MC100_006662321

NYC-WTC_000187821