News
Transit-Oriented Developments Have Huge Impact On Local Economy
October 27, 2016
Bisnow Archives
Developers want to built close to DART lines and new research from the University of North Texas shows that's good for everyone. New or planned construction within a quarter mile of DART rail stations accounts for a $7B impact on the local economy. The study included developments such as CityLine in Richardson (above) and activity in the Cedars.
This impact tops the $5.3B impact from transit-oriented development from 1996 to 2013.
Construction within this area created more than 43,000 jobs and $3B in wages in 2014 and 2015.
Completed or under-construction developments near DART stations have already generated $69M in state and local tax revenue and could produce another $160M, according to the study.
