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Rail News Home Passenger Rail

7/24/2020



Rail News: Passenger Rail

Study: Development near DART stations generate billions


Development projects near Dallas Area Rapid Transit light-rail stations brought $10.27 billion to the region's economy.
Photo – DART

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Development projects near Dallas Area Rapid Transit (DART) light-rail stations created $10.27 billion for the economy in the Dallas-Forth Worth region, according to a University of North Texas (UNT) study

The UNT Economics Research Group reviewed 81 development projects completed between 2016 and 2018 within a quarter mile of DART stations with a total property value of $5.1 billion. 

The group found that developments near the stations and the Dallas Streetcar route generated $286.4 million and $12.6 million in state and local tax revenue, respectively. 

“These projects will serve as a catalyst for future economic growth,” Michael Carroll, who led the research, said in a press release. “As the economic landscape fills in around the initial projects, we will see growth in a wide variety of sectors."

Rental properties surrounding DART stations also have rent premiums between nearly 6 percent and 23 percent.

 



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