Based on the number of land sales transactions (especially repeat sales of the same tract), the turnover of real estate was greater in the study area than in the control area. Since its completion in 1953, the new highway has had a marked influence on unimproved land prices in the study area. The new highway had a less pronounced influence on unimproved subdivided land than nonsubdivided land prices. After the new highway was opened to traffic, the value of abutting acreage land increased rapidly and considerably more than nonabutting land values. Changes in the use of land abutting or near the new highway have been extensive and have occurred at a fairly rapid rate since the completion of the facility. Land value and land use comparisons showed that as land succeeded to higher uses in the study area, it increased in value accordingly. The new highway stimulated new business activity along both routes. The new route reduced traffic volumes on the old route with a corresponding decrease in gross dollar sales of most traffic serving businesses. Traffic serving businesses along the new route experienced a 90 percent increase in gross sales between 1957 and 1961. Nontraffic serving businesses were generally helped by the removal of through traffic.


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    Title :

    Restudy of Changes in Land Value, Land Use, and Business Activity Along a Section of Interstate Highway 35, Austin, Texas


    Contributors:

    Publication date :

    1964


    Size :

    78 pages


    Type of media :

    Report


    Type of material :

    No indication


    Language :

    English