Digital Journal

Where there is public transit there is demand for real estate growth, and that has especially been the case in North Texas. Prudential Texas Properties reports that the results of a recent study from DART and the University of North Texas found massive real estate growth along DART rail stations over the past 17 years.

The Dallas Morning News reported January 28 that since the very beginning, with the Mockingbird Station originally announced in 1997, the private sector has invested more than $1.5 billion in various real estate developments along the rail stations.

While a decent amount of that $1.5 billion was for commercial real estate projects and ventures designed to bring increased economic activity throughout North Texas, the vast majority was put toward residential real estate growth. In fact, more than $1.1 billion in property value was for residences, and also for retail construction close to the transit locations.

“Residential and commercial real estate growth often go hand in hand,” said DD Flynn, VP of Marketing with Prudential Texas Properties. “Where there is economic opportunity, there will be demand to live close by and where there is a high concentration of people living in one area, commercial growth will follow.” {….} Learn more about TOD at TRAdvisors.com