A study due out this month from the Institute for Transportation and Development Policy captures for the first time the relative benefits of investment in bus rapid transit in spurring development. BRT outperforms both light rail and streetcars.
“'Both BRT and LRT can leverage many times more development investment than they cost. Now we can say that for sure,' according to [ITDP's] director for the U.S. and Africa, Annie Weinstock, who previewed the findings [of the new study] at a Metropolitan Planning Council Roundtable in Chicago last week," reports Jeff McMahon. “Per dollar of transit investment, and under similar conditions, BRT can leverage more (development) investment than LRT or streetcars,” Weinstock added.
“The first conclusion we’re able to draw here is that actually BRT is able to leverage development. This is the first time we have an analysis to say that definitively,” she said.
For more resources on BRT's economic development effects, see this recent post by David Levinson on Streets.MN.
FULL STORY: Bus Rapid Transit Spurs Development Better Than Light Rail Or Streetcars: Study
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