Denver Light Rail System And How Is Affecting Real Estate Market

Dated: 07/30/2014

Views: 824

The first light rail line in Denver was opened in 1994. Today this 5.3-mile line is called Central Rail Line that runs from I-25/Broadway, through downtown Denver, and along Welton Street to 30th/Downing. The extension of this line is the shortest FasTracks rail project at 0.8 miles.  
      The RTD FasTracks Program is a multi-billion dollar comprehensive transit expansion plan to build 122 miles of new commuter rail and light rail, 18 miles of bus rapid transit, 21,000 new parking spaces at light rail and bus stations, and enhance bus service for easy, convenient bus/rail connections across the eight-county district.

        The rdt-fastrack is posted the expansion schedule of light rail in Denver.
                                     FasTracks Project schedule    
2013-2018
•  West Rail Line (Open)
•  Central Rail Extension: Planning Study (2013)
•  US 36 Bus Rapid Transit: Express Lanes Federal to 88th Ave. (Jan. 2015) and Express Lanes to Table Mesa (Late 2015)
•  Denver Union Station (2014)
•  Northwest Rail:  Mobility study (2014), Union Station to Westminster segment (2016), Longmont Station (2016)
•  Southwest Rail Extension:  UP Rail Line Relocation (2015)
•  Eagle Project - East Rail Line, Gold Line, Northwest Rail Line to Westminster (2016) •               I-225 Rail Line (2016)
•  Southeast Rail Extension:  Completion of  New Starts Application (2016)
•  North Metro Rail Line: Phase 1 to Eastlake·124th Avenue (2018); Phase 2 to 162nd Avenue as funding is identified
          2018-2030
•  US 36: Remaining RTD Commitment
• Southeast Extension

• Southwest Extension

• North Metro Rail Line: Phase 1 to Eastlake·124th Avenue (2018); Phase 2 to 162nd Avenue as funding is identified
            2035-2044
• Central Extension

•  Northwest Rail: Westminster to Longmont

• Southeast Extension

• Southwest Extension                      
                  How light rail is affecting Real Estate Market?
         
      Homes near light-rail stations along the southeast line, which opened in November 2006, have increased by an average of nearly 4 percent over the past two years, according to an analysis by Your Castle Real Estate. But the rest of the Denver market declined an average of 7.5 percent.

        The closer a home is to the station, the more its value increases, according to the Your Castle analysis. Homes less than a half-mile from a station increased an average of 17.6 percent, while those 1 1/2 to 2 miles away increased just 0.1 percent on average. The data varied widely among stations, however.
      Under its FasTracks program, the Regional Transportation District plans to create six new commuter-rail and light-rail corridors and extend three existing corridors by 2017, potentially creating other pockets where values are driven by proximity to rail.
      In other markets with rail lines, single-family home values have increased anywhere from 2 percent in San Diego to 32 percent in St. Louis, according to data gathered by the Regional Transit District.                
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Sheryll White

As a Full Time real estate agent for the past 23 years, Sheryll has helped hundreds of home owners in Colorado buy and sell their homes. Sheryll's easy going, no pressure style and her in depth knowl....

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