Light Rail Transit (LRT) has been getting more attention in U.S. cities due to its socio-economic benefits, such as reducing pollution and congestion, as well as promoting regional economic development. However, huge capital costs remain an obstacle to the construction of a new light rail system. For this reason, cities in the planning phases of LRT want to use value capture tools to finance transit construction and operation. In theory, any improvement in a transportation structure that increases accessibility and reduces transportation cost can be capitalized into property values in an area. In turn, governments levy taxes on a portion of the additional value of adjacent properties. This study, however, aims to empirically examine whether value capture is possible in the recession when property and land values continue to decrease. The study uses the case of the DART Green Line, which started to run in 2009 just after a financial crisis in the U.S. The 5745 residential parcels are analyzed with using a hedonic price model in order to detect the Green Line’s influence on residential values before and after the recession. To enhance the proficiency of the regression, this study includes several structure and neighborhood characteristics. The statistical results found the Green Line’s benefits on residential values both in the pre-Green Line period (before the recession) and the post-Green Line period (during the recession). It is noteworthy there are still positive influences of transit accessibility on residential values even in the unstable housing market, although the magnitude of the variable has diminished compared to the pre-Green Line period. / text

Residential construction projects are complex. New trends such as globalization,urbanization, and sustainability put even more pressure on the capital intense andalready low marginal industry. In Sweden, the market is competitive. There are many large residential contractors active today. To stay competitive and gain market share, the contractors must deliver attractive apartments. However, what future residents value is not easily articulated or understood. The average home buyer makes home purchasing decisions based on individual and situational aspects, dependent on the life-cycle stage and mainly - not always according to rational choice theory. This analysis has through a literature review and interviews with stakeholders at a large Swedish contractor, gathered information on what is considered residential value, and if barriers to realizing them exist. Barriers were found and were namely a lack of information communication infrastructure making the lengthy and stakeholder-intensive projects with high staff turnover challenging to manage. Other barriers were classic split incentive dilemmas due to decentralization and goal misalignment. Other, ad-hoc decision-making, project members working in silos, and difficulties to articulate residential value. / Bostadsrättsprojekt är komplexa. Nya trender som globalisering, urbanisering och hållbarhet sätter press på den kapitalintensiva och låg marginal industrin. I Sverige är marknaden konkurrensutsatt. Det finns många stora entreprenörer verksamma idag. För att förbli konkurrenskraftig och ta marknadsandelar måste entreprenörerna leverera attraktiva bostadsrätter. Men vad framtida bostadsrättsinnehavare värdesätter är inte lätt att formulera eller förstå. Den genomsnittlige bostadsköparen fattar köpbeslut utifrån individuella och situationsbaserade aspekter, beroende på livscykelstadium och huvudsakligen - inte alltid enligt rationell beslutsteori. Denna analys har genom en litteraturstudie och intervjuer med intressenter hos en stor svensk entreprenör samlat in information om vad som anses vara kundvärde, och hinder för att uppnå dem. Barriärer hittades, och var bristen på informationskommunikationsinfrastruktur som gjorde de långa och intressentintensiva projekten med hög personalomsättning svåra att hantera. Andra barriärer var klassiska såsom olika incitament på grund av decentralisering och olika målsättning. Andra orsaker var adhoc beslutsfattande, projektmedlemmar arbetande i silos och svårigheter att förstå vad kunder söker värde.