Study Shows Homes by Transit Hold Value

[Metro Jacksonville]

Study Shows Homes by Transit Hold Value



A new study, The New Real Estate Mantra: Location Near Public Transportation, conducted by the Center for Neighborhood Technology shows that homes in close proximity to transit stations lost much less of their value during the collapse of the housing market.

Full Article
http://www.metrojacksonville.com/article/2013-apr-study-shows-homes-by-transit-hold-value

[Ocklawaha]

The amazing thing to me is that the 'North Florida Builders Association,' seems to be completely clueless about these national trends. If they simply read and understood the data, they would be leading the charge to keep the mobility plan in place.

[Cheshire Cat]

From The Jacksonville Observer last year.  Has anything gotten better?:

“To be the Northeast Florida leader in providing effective,
coordinated and integrated multimodal transportation solutions.”
Mission Statement, JTA

I had a great job when I lived out west in the ‘70s and ‘80s. Traveling between Denver, my home base, and San Diego and San Francisco wasn’t a hardship, that’s for sure.

I was single with no family responsibilities, not even a pet, so life was good and I was on the road a lot. I’d fly out of Denver on Sunday and then work in one city and then the other for a couple of weeks, and then I’d head back home to check on the home office.

The amazing thing to me, Floridian that I am, was that I never had to rent a vehicle in the Bay area. I jumped on BART (Bay Area Rapid Transit) at the airport, which took me within a block or even closer to my hotel. In the morning when it was time to go to the office in Oakland across the Bay, I’d join the throngs of people slipping tokens into the turnstiles and off we’d go. Business people with briefcases, shoppers, families, everyone surging around a geographic area over 200 miles long and 100 miles wide. No parking angst, no traffic snarls. It was a thing of beauty.

BART took us just about wherever we needed to go, all up and down the Bay area. Then, for shorter distances we could hop on the cable car or electric rail system. Taxis were plentiful and always available in a reasonable amount of time, meaning minutes, not “maybe in an hour” if you were lucky. Heck, even messengers on bicycles were available to make important deliveries around the city, darting in and out between all the other modes of transport people were hanging off or out of. Later, some of us would get together and travel to a great restaurant in another town around the Bay, and off we’d go again, BART ready take us. No one had to worry about having that extra glass of wine, since ‘ole BART was driving. I get nostalgic just thinking about it.

People who lived in the area told me that they had never owned a car. They didn’t need one. As a matter of fact, they said, it was more expensive to own one, considering parking, plus regular upkeep of a vehicle. The mass transit system had too many options, was cost effective, and could get them anywhere any time they needed to go. I checked it out again just now and they’re still right. Routes are extensive, trains (or whatever the form is that you need) run continuously for about 18 hours a day AND on weekends, and fares are reasonable. Why do it alone for more money when the city’s mass transportation system actually takes care of it for you?

For full article: http://www.jaxobserver.com/2012/01/25/will-we-ever-meet-the-challenge-of-mass-transit/

[thelakelander]

^Here?  Not really.  If anything it's gotten worse.  Along with roads, transit funding took a huge hit in the latest road of mobility fee subsidies. Pretty unfortunate for fixed transit and the economic development it tends to attract since the mobility fee is literally the only local funding source established for projects like streetcar, commuter rail, etc.