Downtown transit systems
By: J. David Chapman/August 25, 2016
The leadership in Oklahoma City is busy planning and preparing our city for a modern rail system connecting downtown areas.
The effect of rail systems on real estate values is well-documented. Increases have been significant enough that cities are now capturing this land valuation increase to pay for transportation infrastructure projects by creating special taxes on certain developments that are projected to benefit most from the expanded transit access, according to Laura Bliss in her 2016 article regarding transit.
The research showing the amount of increase in value depends upon various factors, but does show a consistent increase in value with rail-based transit near the property. The modern streetcar rail system in downtown Oklahoma City will increase property values and make my time downtown without a vehicle more productive. The leadership of OKC chose this light-rail transit solution over a bus rapid transit.
I admit it – I frequently ride the bus from Edmond to Oklahoma City. Edmond has free, express bus service to downtown Oklahoma City six times daily. I can safely text, email and write as someone else tends to the driving.
Why do I gulp when admitting I ride the bus? As it turns out I am not the only one embarrassed to admit riding the bus.
In a 2009 Department of Transportation study, riding the bus was found to carry a significant social stigma. I suspect even in 2016 this stigma remains. Even when the more sophisticated bus rapid transit is used, study respondents overwhelmingly prefer light-rail transit. While the practical advantages of light-rail transit over bus rapid transit can certainly be argued, the Department of Transportation research found that the public perceives rail-based transit as the hallmark of world-class cities, improves a city’s reputation and will boost the economy of a city.
Riders of public transportation equate rail service with an urbane lifestyle and the contemporary professional, while likening bus travel as a low-quality option of last resort for the elderly, disabled, or disadvantaged. These impressions given by public transportation riders detailing the disparity in image between rail and bus transit probably explain the popularity of new rail systems around the country.
J. David Chapman is an associate professor of finance and real estate at the University of Central Oklahoma, jchapman7@uco.edu.