Transit-oriented development has spurred billions in economic activity along DART light rail.
A report from the University of North Texas (UNT) Economic Research Group offers an analysis of economic activity spurred by transit-oriented development in Dallas. Marybeth Luczak outlines key findings in an article in Railway Age, noting that development around Dallas Area Rapid Transit (DART) light rail stations has generated over $18 billion in direct economic impacts since 1999. “This includes a $1.0 billion direct impact from 2022 to 2024 based on 37 development projects.”
According to the report, “Construction around DART stations in 2022-2024 generated $51.5 million in state and local tax revenue, the bulk of which ($25.4 million) was from sales tax related to construction of the projects, according to the report. Additionally, development around DART stations generated $21.1 million in property taxes, with $5.0 million in other state and local revenue from miscellaneous fees and fines.”
The study also found that TOD raised rent premiums by 10 percent for residential and 12.6 percent for commercial units within half a mile of stations and directly created 5,295 jobs in the last two years.
Read the full story: DART TOD Drives Dallas Investment
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