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Real estate development in anticipation of the Green Line light rail transit in St. Paul

机译：期待圣保罗绿线轻轨交通的房地产开发

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摘要

Although previous studies have extensively explored the impacts of rail transit on economic development after its opening, few have examined its impact on real estate development before its opening. Using the building permit data of the city of St. Paul, this study investigates the effects of key announcements of the Green Line light rail transit (LRT) by employing location quotient analysis and difference-in-difference models to compare building activity in the LRT corridor and control corridors. We found that the announcement of preliminary engineering had no positive impacts on the count and value of building permits whereas the announcement of Full Funding Grant Agreement tended to increase the number of building permit by about 24% and the value by 80%. We concluded that LRT investment, in conjunction with proactive land use planning policies, public subsidies and public funded projects, increases building activity. (C) 2016 Elsevier Ltd. All rights reserved.
机译：尽管以前的研究已经广泛探讨了轨道交通对开放后经济发展的影响，但很少有人在开放前检查其对房地产开发的影响。本研究使用圣保罗市的建筑许可数据，通过使用位置商分析和差异模型比较轻轨交通中的建筑活动，研究了绿线轻轨交通（LRT）关键公告的影响走廊和控制走廊。我们发现，宣布初步工程不会对建筑许可的数量和价值产生积极影响，而宣布“全额拨款赠款协议”则倾向于使建筑许可的数量增加约24％，价值增加80％。我们得出的结论是，轻铁的投资，结合积极的土地使用规划政策，公共补贴和公共资助的项目，可以增加建筑活动。 （C）2016 Elsevier Ltd.保留所有权利。

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