SPR-2314: Impacts of CTrail Hartford Line on Real Estate and Urban Economic Development: Phase 1

The Hartford Line, a heavy rail commuter line connecting New Haven, Hartford CT and Springfield MA, with stations built and/or planned for in eleven Connecticut municipalities, received final funding approval in 2012 and opened for service in June 2018. This new commuter service may be encouraging additional transit-oriented development (TOD) along the existing Springfield-Hartford-New Haven rail corridor, including retail stores, restaurants, office space and housing. These potential impacts along the Hartford Line are expected to affect property values. However, a priori, the magnitude of the impact is unknown. The overall aim of this study is to measure the impact of the Hartford Line on real estate and urban economic development in these eleven municipalities. The change in property values and economic development will eventually be analyzed for three crucial periods: before the formation of the interagency workgroup on TOD in 2012 (period 1: pre-2012), before the commencement of service (period 2: 2012-2018, and after the commencement of Hartford Line service in 2018 (period 3: post 2018-2023). The objective of this first phase of this project – the focus of this report – involves collecting the necessary data for developing the baseline of conditions existing before the formation of the Interagency Workgroup on TOD in 2012 (Period 1: Pre-2012), and before the commencement of Hartford Line service in June 2018 (Period 2: 2012 - 2018). The second phase would encompass a detailed statistical analysis study on the potential impacts on residential and commercial property values in the areas surrounding Hartford Line stations for approximately the five years after June 2018 (Period 3).

Language

• English

Project

• Status: Active
• Funding: $262,381
• Contract Numbers:

  SPR-2314

• Sponsor Organizations:

  Connecticut Department of Transportation

  2800 Berlin Turnpike
  P. O. Box 317546
  Newington, CT  United States  06131-7546
• Managing Organizations:

  Connecticut Department of Transportation

  2800 Berlin Turnpike
  P. O. Box 317546
  Newington, CT  United States  06131-7546
• Project Managers:

  Zimyeski, Melanie

• Performing Organizations:

  University of Connecticut, Storrs

  Center for Real Estate and Urban Economic Studies, School of Business
  2100 Hillside Road, Unit 1041RE
  Storrs, CT  United States  06269-1041
• Principal Investigators:

  Cohen, Jeffrey

• Start Date: 20180815
• Expected Completion Date: 20230630
• Actual Completion Date: 0

Subject/Index Terms

• TRT Terms: Before and after studies; Property values; Railroad commuter service; Transit oriented development
• Geographic Terms: Hartford (Connecticut)
• Subject Areas: Economics; Finance; Public Transportation;

Filing Info

• Accession Number: 01853896
• Record Type: Research project
• Source Agency: Connecticut Department of Transportation
• Contract Numbers: SPR-2314
• Files: RIP, STATEDOT
• Created Date: Aug 3 2022 11:11PM