The objective of this research is to investigate the spatial and temporal distribution of economic impacts of beltway investments on residential and commercial property values in North Carolina.
The study will focus on three major highway investments constructed at various times between 1990 and 2015 in North Carolina: (1) I-540 Northern Wake Expressway, (2) Greensboro Southwest Loop, and (3) I-485 Charlotte Outer Loop. A hedonic price model with difference-in-differences estimators will be used to investigate the spatial distribution of treatment effects around highway access points. This research will give answers to the following questions:
- What is the extent and overall spatial distribution of a highway investment's effects on surrounding property values?
- What is the time frame and magnitude of the timing of anticipation and treatment effects in relation to construction dates?
In addition, as part of this research project, we will develop presentations for internal use to NCDOT for knowledge transfer purposes. The presentations will focus on the results of the previous and current research and how they can be used by NCDOT staff.
