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its like the lifeline of east london, and it connected large aread of land that used to be borderline slums. Now there are highriae apartments and the fact that
by ClumsyPilot 4y ago
its like the lifeline of east london, and it connected large aread of land that used to be borderline slums. Now there are highriae apartments and the fact that they have access to piblic trandport has increased their valuation by billions.
- dredmorbius 4y agoProviding improved transport and transit is amongst the best way of increasing property values. A stellar example is Denver, Colorado, which grew in size tenfold in a decade after a branch line connected it to the Transcontinental Railroad in 1870, becoming the dominant Rocky Mountain region city, a title which might otherwise have gone to Chyenne, Wyoming. It's also something of a two-edged sword: the property value boost makes further transit rights of way far more expensive to acquire. I've noticed in particular that much rail development happens either as greenfield projects within countries as they're first industrialising (UK and US in the 19th century, China in the late 20th), or following a devastating war or other economic setback --- Japan's shinkansen and to a somewhat lesser degree France's TGV are both legacies of WWII. In the US, aside from political opposition from other parts of the transportation sector, it's wealthy landowners who are the most significant obstacle to new development.