High-Speed Rail Means Real Estate Boom

Peter Gertler of HNTB says that the Obama administration's high-speed rail investments will attract new development around stations.
May 8, 2009, 12pm PDT | Tim Halbur
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"[W]e can predict that development of all kinds [will] follow transit lines, especially in large, modernized cities where primary hubs will be located, but also in communities with intermediate and suburban stations.

These new stations could draw a mix of both commercial and residential developments. These mixed-use land developments, or "transit villages," would be enhanced by user-friendly features such as bike trails and walking paths that encourage a live-where-you-work environment that minimizes the need for auto dependency.

In addition, with high-speed rail stations as their anchors, these transit village developments would create a sense of community and vitality with a scope and character unique to the city and its environs."

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Published on Tuesday, May 5, 2009 in Forbes
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