Guidelines for Analysis of Investments in Bicycle Facilities (2006) / Chapter Skim
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Appendix H: Community Livability Benefits
Appendix H: Community Livability Benefits
Pages 96-103
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From page 96... ...
An extensive review of this literature (130) documents nearly 200 applications that have examined home purchases to estimate values of several home attributes including structural features (e.g., lot size, a home's finished square footage, and number of bedrooms)
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From page 97... ...
The Grand Rounds Parkway in Minneapolis, considered by many to be the crown jewel of parks and recreational trails in Minnesota, con Hypothesized Relationship with Home Value City Residents Suburban Residents ONSTREET BICYCLE LANE NONROAD SIDE BICYCLE TRAIL ROADSIDE BICYCLE TRAIL Figure 20. Representative photographs of an on-street bicycle lane, non-roadside trail, and roadside trail, hypothesized relationships.
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From page 98... ...
Standardized test scores capitalize into home sale prices and are an effective measure of perceived school quality (231)
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From page 99... ...
We therefore divide the off-street layer into roadside and non-roadside trails based on proximity to busy streets. We then calculate distance to the nearest roadside trail, non-roadside trail, and on-street bicycle lane for each home.
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From page 100... ...
Home values increase with number of bedrooms, bathrooms, lot size, finished square footage, fireplaces, garage stalls, proximity to a central business district, and school quality. Home values decrease with age and percent non-white in the census tract.
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From page 101... ...
Finished square feet of floor space Number of fireplaces Number of garage stalls Distance to nearest major highway (meters) Distance to nearest central business district (ln)
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From page 102... ...
We have divided bicycle trails into on-street, roadside and non-roadside facilities in the city and suburbs. Further data collection efforts aimed at identifying other differentiating characteristics among facilities, such as trail width and adjacent land cover, would allow the implementation of a hedonic travel cost model to place a value on such characteristics (242)
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From page 103... ...
Using fixed effects detects such considerations in terms of neighborhood quality and character. Overall, our results suggest that off-street bicycle trails add value to home sale prices in the city, implying a contribution to social livability.
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