Author(s):
J.L. Buffington, M.T. Wildenthal
Publication Date
November 1997
Abstract
The upgrading and widening of highways over the state, especially in urban areas, are causing the directly affected businesses and property owners to inquire about the possible negative economic impacts of such construction. This paper documents the during-construction effects of widening a 3.5 km (2.2 mi) section of U.S. 59, in Houston, Texas, from a 6-lane freeway with a 4-lane service road to a 10-lane freeway and a 6-lane service road. Construction had not been completed when this report was written.Collected data includes information on abutting businesses' estimation of the construction impact on their businesses and property values, and on the traffic volumes, travel times, and accident rates of the highway. Most businesses' number of usable parking spaces, full-time employees, and part-time employees were unaffected during construction. Most business managers thought that sales had decreased. Sales figures reported by 13 businesses showed a two percent decrease in real terms, which was less severe than the business managers estimated. Real appraised abutting residential property values fell more and commercial property values fell less than corresponding Houston property values during construction, while vacant property value changes were similar.There was no consensus among respondents about the change in traffic volume, travel time, and number of accidents on U.S. 59 during construction. The number of accidents and travel time changed little between 1991 and 1995, but were lowest in 1995. There is no clear trend in traffic volume.
Report Number:
1260-3
Keywords:
Abutting Businesses, Abutting Residents, economic impact, Highway Widening, Property Value
Link(s):
Document/Product
http://tti.tamu.edu/documents/1260-3.pdf
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