1.School of Urban Planning and Design, Peking University, Shenzhen 518055,Guangdong, China 2. College of Urban and Environmental Sciences, Peking University, Beijing 100871, China 3.Urban Planning & Design Institute of Shenzhen, Shenzhen 518031,Guangdong,China 4. Changsha Metro Group Co., Ltd., Changsha 410007, Hunan, China
Under the context of rapid urbanization and motorization in urban China, the demand for multi-jurisdictional passenger transport is becoming increasingly significant for regional integrated development. Following this trend, inter-city passenger rail transit has been viewed by the local governments as an important alternative to driving, particularly when issues of road congestion, land development and regional integration are considered. However, how to obtain the capital to cover huge constructive and operational costs is challenging inter-city passenger rail transit. Current literature has focused on funding for municipal passenger rail transit and the issue of value capture policies and distribution arrangement. The value capture setup for inter-city rail transit has rarely been discussed. In this research, we first review some perceived difficulties and strategies for value capture in China, and then we present a case study of Inter-city Passenger Rail Transit in the Zhujiang River Delta. The case study describes the relevant planning and development processes. In particular, it explains how the funding for this project has evolved from a collaborative effort between Guangdong Provincial Government and The Ministry of Railways to that between the Provincial Government and the relevant municipal governments. The ending arrangement is a new value-capture mechanism for funding the inter-city passenger rail. The innovation of this funding mechanism and the concurrent implementation difficulties are valuable experience for other mega-regions where similar inter-city transport projects have been considered.
. 跨市轨道交通溢价回收策略与多层级管治：以珠三角为例[J]. 地理科学,
2016, 36(2): 222-230.
Guicai Li et al
. Land Value Capture and Multi-level Governance for Inter-city Passenger Rail Transit in the Zhujiang River Delta[J]. SCIENTIA GEOGRAPHICA SINICA,
2016, 36(2): 222-230.
[GuChaolin, WangYing.Governance of urban agglomerations:A case of Shaoxing. , 2013, 28(2): 61-66.]
Levinson DM, ZhaoJ.Introduction to the special issue on value capture for transportation finance[J]. , 2012, 5(1): 1-3.http://www.researchgate.net/publication/241766957_Introduction_to_the_special_issue_on_value_capture_for_transportation_finance?ev=auth_pub
This special issue includes 5 articles on value capture strategies used in transportation finance.
MeddaF.Land Value Capture Financefor Transport Accessibility: A Review[J]. , 2012, 25: 154-161./s?wd=paperuri%3A%283f9bab6c40497cbebc9f1fca139a7bab%29&filter=sc_long_sign&sc_ks_para=q%3DLand%20value%20capture%20finance%20for%20transport%20accessibility%3A%20a%20review&sc_us=54012661657312078&tn=SE_baiduxueshu_c1gjeupa&ie=utf-8
[YuJianhui, ZhangWenzhong, DongGuanpeng.Spatial heterogeneity in the attributes prices of residential land in Beijing. , 2013, 32(6): 1113-1120.]
DammD, Lerman SR, Lerner-LamE, et al.Response of Urban Real Estate Values in Anticipation of the Washington Metro[J]. , 1980, 18: 315-336.http://www.researchgate.net/publication/235357944_Response_of_Urban_Real_Estate_Values_in_Anticipation_of_the_Washington_Metro
The effect of public mass transit systems on the spatial distribution of urban property values is likely to be highly parcel-specific. Changes in real estate values may occur both before and after construction of a transit system. This article describes a series of econometric models of real estate values estimated for parcels in Washington, DC, over the period of the planning and initial construction of the metro system. Separate models are estimated for single-family dwellings, multi-family structures and retail stores. Access to Metro and its implementation schedule are both found to be significant determinants of parcel transaction prices.(a)
Dewees DN.The effect of a subway on residential property values in Toronto[J]. , 1976, 3(4): 357-369./s?wd=paperuri%3A%2806e44f3ebd3d945947e4e733b4382340%29&filter=sc_long_sign&sc_ks_para=q%3DThe%20effect%20of%20a%20subway%20on%20residential%20property%20values%20in%20Toronto%20%E2%98%86%20%20%E2%98%86%E2%98%86&sc_us=7488200343670671066&tn=SE_baiduxueshu_c1gjeupa&ie=utf-8
[WuWei, ZhouShenglu, YangDezhi, et al.Estimation of the value-added effect on residential land price in riverfront sub-city owing to river-crossing channels: A case study of Pukou District of Nanjing City, China. , 2013, 32(1): 29-40.]
DebrezionG, PelsE, RietveldP.The impact of rail transport on real estate prices: an empirical analysis of the Dutch housing market[R]. , 2006.
VoithR.Transportation, Sorting and House Values[J]. , 1991, 19(2): 117-137.http://onlinelibrary.wiley.com/doi/10.1111/1540-6229.00545/epdf
In this paper, the author examines the importance of accessibility to employment and transportation system attributes for residential location choice, car ownership and house values. Using the 1980 Census of Housing and Journey to Work data merged with transportation system data, there is strong evidence of residential sorting based on employment location. It was found that suburban areas with good commuter rail access to the CBD have significantly greater fractions of their labor force working in the CBD, own fewer cars and have higher house prices than similar neighborhoods and houses in census tracts without service. The house value premium is over 6.4 percent.
BajicV.The Effects of A New Subway Line on Housing Prices in Metropolitan Toronto[J]. , 1983, 20(2): 147-158.http://www.researchgate.net/publication/235357525_The_effects_of_a_subway_line_on_housing_prices_in_Metropolitan_Toronto
An analysis by means of using the estimation results of a modal choice model and the hedonic price regressions model is conducted in order to identify the effects of a subway line in Toronto on the values of housing units. The modal choice model is used for the estimation of the direct benefits from the improvement in transportation, and the hedonic price equations for the identification of subway effects on housing prices. Empirical results indicate that the direct savings in commuting costs have been capitalized into housing values.
[LiuChaoqun, LiZhigang, XuJiang, et al.The restructuring of the city-regions in transitional pearl river delta:a case study of the construction of inter-jurisdictional infrastructures. , 2010, 25(2): 31-38.]