Value Capture to Fund Public Transportation: The Impact of Warm Springs BART Station on the Value of Neighboring Residential Properties in Fremont, CA

This study estimates households’ willingness to pay for single-family houses and condominiums/townhouses located within 2 miles of Warm Springs (WS) BART Station in Fremont, CA. The study finds that, compared to the houses sold in the referent category (2 to 5 miles away and sold during the pre-project-announcement period of 2000-2001), an average-priced single-family house within two miles of the WS BART Station was higher in price by 9% to 15%. The total property value increment for the single-family houses is large enough to fund the $802 million Warm Springs BART Extension Project cost five times over.

University: 

Mineta Consortium for Transportation Mobility
San José State University

Principal Investigator: 

Shishir Mathur, Ph.D.

PI Contact Information: 

Mineta Transportation Institute
San José State University
210 N. 4th St., 4th Floor
San José, CA 95112
shishir.mathur@sjsu.edu 

Funding Source(s) and Amounts Provided (by each agency or organization): 

U.S. Department of Transportation, Office of the Assistant Secretary for Research and Technology – $68,193.36 

Total Project Cost: 

$68,193.36

Agency ID or Contract Number: 

69A3551747127

Dates: 

October 2017 to May 2019

Project Number: 

1714