Choi, K; Son, K; Woods, P and Park, Y J (2012) LEED public transportation accessibility and its economic implications. Journal of Construction Engineering and Management, 138(9), pp. 1095-1102. ISSN 0733-9364
Abstract
The LEED (Leadership in Energy and Environmental Design) environmental certification system has developed as a standard for sustainable project planning, though research into its economic impacts have been limited. The main objective of this study is to investigate the economic impacts that two LEED public transportation access (PTA) components, a bus and a light rail system, have on appraised values of land parcels. This study developed a predictive model to quantify the impacts that the two LEED PTA components would have on the appraised unit values of unimproved land parcels. First, a LEED PTA indication map using geographical information system (GIS) was created to randomly select unimproved parcels. Second, the PTA-qualified parcels were selected from the unimproved parcels to use for this study. Lastly, a multiple linear regression method with a one-way ANOVA analysis was performed to predict the unit value of selected parcels by analyzing how the appraised unit value (ft2) of parcels was affected by the PTA credits. The results indicate that the two PTA LEED components have a significant impact on the appraised land values, which suggests an economic benefit for adopting the LEED PTA components.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | geographic information systems; public transportation; site selection; sustainable development |
| Index terms: | geographic information system, land, accessibility, environmental design, public transportation, economic impact, site selection, information system, project planning, sustainable development, environmental certification |
| Subjects: | real estate economics, sustainability and energy, control systems, infrastructure and transport systems, financial analysis, information systems, geographical techniques and analysis, cognitive psychology, health safety and environment, sustainability assessment, inclusive design |
| Topics: | Digital Applications, Urban Studies, Design Practice, Health and Safety, Cost Management, Engineering Principles, Project Management, Geographical Context, Sustainability |
| Descriptive scope: | 2 PC |
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