Economic impact of Light Rail : The results of 15 urban areas in France, Germany, UK and North America

Abstract

This report concerns the economic effects of light rail investment in urban transport areas in Europe, Canada and the USA. Effects are divided into direct indicators (values of properties and rent near light rail stations); indirect indicators (pedestrian and car use trends, economic benefits for businesses); and land use indicators (change of retail character). Residential property and rent values were often higher when near a light rail line; office prices were also higher in many cases. New city centre tram stops can increase the number of pedestrians and hence retail turnover: car ownership was seen to be lower per household along tram corridors. It seemed that economic benefits of tram lines accrued to smaller towns as well as larger. Fewer car parking spaces are needed and employers often base new workplaces near good transport links: workers find transport fares less expensive than parking charges. Changes in retail character of a town centre involved a greater number of fashion shops, as rents increase: older industrial areas start to attract leisure and cultural activities.

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