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According to this blog post[0] the same used to be true in the U.S.---light rail was payed for by property developers. Interestingly, he says this eventually l
by vilhelm_s 10y ago
According to this blog post[0] the same used to be true in the U.S.---light rail was payed for by property developers.
Interestingly, he says this eventually led to the collapse of the Los Angeles street car system, because it was financed by the the increase in land value, and once the development was complete there was no longer a cash stream to pay for operating costs.
[0] http://kontextmaschine.tumblr.com/post/144726791758/was-thinking-about-the-70s-as-one-does-in-this http://kontextmaschine.tumblr.com/post/144726791758/was-thin...
- trome 10y agoYeah, in China they lease the land out to the developments, so there is a constant revenue stream. That is illegal to do in nearly any other country though, the US included.
- rtpg 10y agoThis is slightly different from what Japanese companies do. Japanese train companies actually run the retail operations next to the stations in many cases, renting out store space to high-margin businesses like high-end clothing or other luxury goods. This also leaks into side businesses like credit cards (to support retail spending). These businesses are true conglomerates