Funding public transport through land use and value capture

Corinne Mulley*, B.T.H. Yen

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

Abstract

Many cities are renewing, extending and developing their public transport networks in response to the sustainability agenda. Value capture is viewed as one of the most promising alternative funding sources. However, several key elements need to be considered before implementing a value capture scheme. The value capture concept is underpinned by land rent theory which identifies the land value increases or value uplift following changes in accessibility provided by new public transport infrastructure. Therefore, this chapter provides a review of value uplift before turning to the key elements of value capture as a funding tool for public transport infrastructure. Value capture is considered as a number of different strategies including an assessment of equity and concludes with the case study of Crossrail in London.
Original languageAmerican English
Title of host publicationHandbook of Sustainable Transport
EditorsCarey Curtis
PublisherEdward Elgar Publishing
Chapter39
Pages388-397
Number of pages10
ISBN (Electronic)9781789900477
ISBN (Print)9781789900460
DOIs
StatePublished - Dec 2020

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