Modelling changes in accessibility and property values associated with the King Street Transit Priority Corridor project in Toronto

IF 6.3 1区 工程技术 Q1 ECONOMICS
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Abstract

Despite several decades of research, the relationship between transit accessibility and land values remains unclear. In practice, most research has focused on simple measures of proximity that, while easy to understand, fail to capture the potential for interaction using the transit network. Through the example of the King Street Transit Priority Corridor project, this research examines how transit accessibility, and changes in access over time that result from streetcar service upgrades, are capitalized into condominium prices in Toronto, Canada. Methodological and applied contributions include calculating streetcar travel time differences using disaggregate vehicle tracking data, calculating transit accessibility using a gravity-based measure with a calibrated impedance function, accounting for variations in accessibility over the course of a day as well as changes over time, incorporating measures of access to local amenities, transforming 2D transaction information to a 3D format, and specifying 4D spatio-temporal weights. Longitudinal model results indicate that transit accessibility is a significant determinant of condominium prices. While the service upgrades did not dramatically increase accessibility levels and the implicit value of accessibility did not change over time, panel model results find that condominium property prices appreciated by about 2.7% more on average in the King Street streetcar corridor relative to the Sheppard subway control after the introduction of the priority corridor pilot. This result suggests the corridor on the whole may have became more attractive relative to Sheppard in the pilot phase.

与多伦多国王街公交优先走廊项目相关的交通便利性和房产价值变化建模
尽管经过几十年的研究,但公交可达性与土地价值之间的关系仍不明确。在实践中,大多数研究都集中在简单的邻近性衡量标准上,这些标准虽然易于理解,但却无法捕捉到利用公交网络进行互动的潜力。本研究以国王街公交优先走廊项目为例,探讨了在加拿大多伦多,公交可达性以及有轨电车服务升级所带来的可达性随时间推移而发生的变化,是如何被资本化为公寓价格的。研究方法和应用方面的贡献包括:使用分类车辆跟踪数据计算有轨电车旅行时间差异;使用基于重力的测量方法和校准阻抗函数计算公交可达性;考虑一天内可达性的变化以及随时间的变化;纳入当地便利设施可达性的测量方法;将二维交易信息转换为三维格式;以及指定四维时空权重。纵向模型结果表明,交通便利性是决定公寓价格的重要因素。虽然服务升级并没有显著提高可达性水平,可达性的隐含价值也没有随时间发生变化,但面板模型结果发现,在引入优先走廊试点后,国王街有轨电车走廊的公寓物业价格相对于谢帕德地铁控制区平均高出约 2.7%。这一结果表明,在试点阶段,与谢帕德地铁站相比,该走廊整体上可能更具吸引力。
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来源期刊
CiteScore
13.20
自引率
7.80%
发文量
257
审稿时长
9.8 months
期刊介绍: Transportation Research: Part A contains papers of general interest in all passenger and freight transportation modes: policy analysis, formulation and evaluation; planning; interaction with the political, socioeconomic and physical environment; design, management and evaluation of transportation systems. Topics are approached from any discipline or perspective: economics, engineering, sociology, psychology, etc. Case studies, survey and expository papers are included, as are articles which contribute to unification of the field, or to an understanding of the comparative aspects of different systems. Papers which assess the scope for technological innovation within a social or political framework are also published. The journal is international, and places equal emphasis on the problems of industrialized and non-industrialized regions. Part A''s aims and scope are complementary to Transportation Research Part B: Methodological, Part C: Emerging Technologies and Part D: Transport and Environment. Part E: Logistics and Transportation Review. Part F: Traffic Psychology and Behaviour. The complete set forms the most cohesive and comprehensive reference of current research in transportation science.
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