Rail Systems Boost Some Property Values, Study for OCTA Finds
Commuter rail systems, such as Orange County’s proposed CenterLine project, can boost the property value of commercial buildings, apartments and condominiums, but less so for single-family houses, a new study shows.
The Cal State Fullerton report, funded by the Orange County Transportation Authority, found that commercial property values around the United States increased by more than 30% in areas that have convenient access to light-rail systems.
Residential property value increased from 2% to 18%, with the majority of the increase found in condominiums and apartments within one mile of rail stations. The value of single-family homes was not affected as much, the study found.
The Orange County agency will use the report to support the proposed 11-mile rail system from UC Irvine through Costa Mesa to Santa Ana.
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