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.
Mineta Transportation Institute
San José State University
210 N. 4th St., 4th Floor
San José, CA 95112
U.S. Department of Transportation, Office of the Assistant Secretary for Research and Technology – $68,193.36