Economic Impact of Superstreets

Economic Impact of Superstreets

While the Department of Transportation (DOT) is well equipped to answer questions about traffic flow and safety, the proposed research will help round out a community presentation and DOT's body of knowledge. To the extent there is a net economic impact from the installation of superstreets, the impact may manifest itself in two ways, as a change in retail sales activity, or as a change in nearby property values as buyers price in changes in travel costs. The objectives of the study's proposed project include: (1) Identify the change in activity levels at retail centers near the superstreets through remote sensor data with longer analysis periods that previous studies (2) Collect and analyze business perceptions of sales and customer traffic changes following the installation of superstreets through ex-ante business surveys (3) Estimate the effect of superstreet installation on residential property values surrounding the street improvement (4) Provide an overview of neighboring resident's perceptions of the superstreet median design. The work proposed here will extend the existing research by complementing business surveys with remote sensor data and allow for the potential extension of the sample period to identify longer run effects. In addition, the work proposed here will provide a richer picture of the superstreets effects by also analyzing the effects on residential home prices. The research proposed above is significant in many dimensions. First, the research will provide the NCDOT an understanding of the effects of superstreets on businesses adjacent to the improvements and help NCDOT better respond to and address concerns of business owners. Second, the work will shed light on where the effect, if any, of streets improvements manifests itself by examining potential manifestations other than business sales. Third, the work will also provide NC DOT with feedback regarding resident perceptions of the superstreets to help inform road design in the future. Finally, the work will move existing analyses forward by examining differential impacts by business types such that locations of median breaks and RCUTS may be better matched to land uses in the future.

Language

  • English

Project

  • Status: Active
  • Funding: $184923
  • Contract Numbers:

    FHWA/NC 2020-47

  • Sponsor Organizations:

    North Carolina Department of Transportation

    Research and Development
    1549 Mail Service Center
    Raleigh, NC  United States  27699-1549
  • Managing Organizations:

    North Carolina Department of Transportation

    Research and Development
    1549 Mail Service Center
    Raleigh, NC  United States  27699-1549
  • Project Managers:

    Penny, Lisa

  • Performing Organizations:

    University of North Carolina at Wilmington

    School of Business
    Wilmington, North Carolina  United States  28403-5973
  • Principal Investigators:

    Jones, Adam

  • Start Date: 20190901
  • Expected Completion Date: 20210228
  • Actual Completion Date: 0
  • Source Data: 2020-47

Subject/Index Terms

Filing Info

  • Accession Number: 01724958
  • Record Type: Research project
  • Source Agency: North Carolina Department of Transportation
  • Contract Numbers: FHWA/NC 2020-47
  • Files: RiP, STATEDOT
  • Created Date: Dec 11 2019 3:54PM