Impact of Transmilenio on density, land use, and land value in Bogotá
AbstractWhile urban sprawl has been the general growth pattern in most developing cities worldwide, the city of Bogotá has undergone a process of densification in specific areas in the past decade. Using a differences-in-differences methodology, we have shown that the bus rapid transit (BRT) network, Transmilenio, built in this period is one of the variables that account for this higher density. Areas served by Transmilenio, especially those in the periphery that have been provided with feeder bus routes, have a higher growth than zones without access to this system. Using a similar methodology for assessing the growth of newly built areas, we have not found a clear relation between the BRT and recent evolution of residential, commercial, or work areas. However, recent scientific literature confirms an impact of the BRT on land value.
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Bibliographic InfoArticle provided by Elsevier in its journal Research in Transportation Economics.
Volume (Year): 40 (2013)
Issue (Month): 1 ()
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Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/620614/description#description
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