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Land value capture to fund public transportation infrastructure: Examination of joint development projects' revenue yield and stability

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  • Mathur, Shishir
  • Smith, Adam

Abstract

This paper examines joint development projects' ability to generate revenue for transit agencies. Using interviews, and primary and secondary text, the paper studies five joint development projects nation-wide and finds that revenue yield and stability from joint development projects vary widely. The paper argues that joint development projects benefit from supportive land use and zoning, and clear policy objectives and political direction. Finally, inflation-adjusted minimum guaranteed revenues and gross revenue sharing help enhance revenue yield and stability.

Suggested Citation

  • Mathur, Shishir & Smith, Adam, 2013. "Land value capture to fund public transportation infrastructure: Examination of joint development projects' revenue yield and stability," Transport Policy, Elsevier, vol. 30(C), pages 327-335.
  • Handle: RePEc:eee:trapol:v:30:y:2013:i:c:p:327-335
    DOI: 10.1016/j.tranpol.2013.09.016
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    References listed on IDEAS

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    1. John D. Benjamin & G. Stacy Sirmans, 1996. "Mass Transportation, Apartment Rent and Property Values," Journal of Real Estate Research, American Real Estate Society, vol. 12(1), pages 1-8.
    2. J Landis & R Cervero & P Hall, 1991. "Transit joint development in the USA: an inventory and policy assessment," Environment and Planning C: Government and Policy, Pion Ltd, London, vol. 9(4), pages 431-452, August.
    3. Dean H. Gatzlaff & Marc T. Smith, 1993. "The Impact of the Miami Metrorail on the Value of Residences near Station Locations," Land Economics, University of Wisconsin Press, vol. 69(1), pages 54-66.
    4. Cervero, Robert & Landis, John, 1997. "Twenty years of the Bay Area Rapid Transit system: Land use and development impacts," Transportation Research Part A: Policy and Practice, Elsevier, vol. 31(4), pages 309-333, July.
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    1. repec:eee:trapol:v:57:y:2017:i:c:p:59-67 is not listed on IDEAS
    2. repec:eee:trapol:v:64:y:2018:i:c:p:123-131 is not listed on IDEAS

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