DART News Release
Jul 23, 2020 | General
DART Rail Generates $10.27 Billion Near Rail Stations
Media Relations Contact: July 23, 2020 DART Rail Generates $10.27 Billion Near Rail Stations
Researchers from the Economics Research Group at the University of North Texas (UNT), led by Michael Carroll, Ph.D., reviewed 81 development projects completed within a quarter mile of DART stations with a total property value of $5.138 billion between 2016 and 2018. "The projects themselves added billions in economic activity for the DFW economy," explained Carroll. "Further, these projects will serve as a catalyst for future economic growth. As the economic landscape fills in around the initial projects, we will see growth in a wide variety of sectors." UNT Researchers concluded:
DART's 93-mile light rail system, with 64 stations, is the longest light rail system in North America and was built at a cost of $5.5 billion. The most recent light rail expansion project was the SOC-3 Blue Line Extension from Ledbetter Station to UNT Dallas, which opened in October 2016. Recent focus has been on system enhancements such as rail replacement in the Dallas Central Business District (CBD) completed in 2019, and Red/Blue platforms extensions, which are under construction. 'The Economic and Fiscal Impacts of Development Near DART Light-Rail Stations' is available for download along with more information about DART and transit oriented development at DART.org/EconomicDevelopment. -- 30 -- |
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