A new study reveals that high-quality bus systems have a significant benefit to nearby property values.
Researchers at The Ohio State University studied the impact of bus rapid transit systems on property values near 11 BRT systems in 10 US cities. The systems didn’t have a negative impact in most of the cities studied and improved multi-family property values in some cities.
Cleveland’s own BRT system, the Healthline, was one of 11 systems analyzed in the study. It found that single-family homes along the Cleveland Healthline system saw no change in their values and multi-family residences saw a 41.5 percent increase in their property values. “We spent a lot of time working with our major institutions, with our community development corporations along the corridor and many of them had updated their master plans to really take advantage of what we were doing on the Healthline,” said Shipper.
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