A new study shows that publicly funded projects in close proximity to DART light rail stations have made a big economic impact in North Texas.
Researchers from the Economics Research Group at the University of North Texas, led by Michael Carroll, Ph.D., looked at 11 public projects, like Parkland Hospital, the Irving Convention Center or the Hatcher Station Health Center between 1999 and 2015 and found those types of projects are valued at $1.8 billion. Combined with privately funded transit oriented development, $10.8 billion has been invested near or along DART’s 93-mile light rail system since 1999.
“This continues to prove that investing in transit generates benefits beyond ridership,” said Morgan Lyons with DART. “People are choosing to locate in these locations because they know we can move people efficiently and effectively.”
The updated study was presented at a meeting of the Urban Land Institute Thursday. Previous studies by UNT researchers looked at TOD projects like Mockingbird Station or CityLine and identified more than $7 billion in economic impact from new or planned construction within a quarter mile of rail stations.
Researchers concluded the projects studied “represent not only the region’s commitment to multimodal transportation options and an urban landscape that reflects the importance of those options, but billions of dollars in economic activity and tens of thousands of jobs throughout the region,” Dr. Carroll said. “This proves the wisdom of regional leaders in building a regional transit network like DART.”
The 93-mile light rail system was built at a cost of $5.5 billion. The most recent extension, three miles, connecting a renewed Ledbetter Station to the campus of the University of North Texas Dallas, opened in October 2016.
