This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
9/16/2024
Transit-oriented developments (TOD) in the Dallas Area Rapid Transit (DART) service area generated almost $1 billion in direct spending and spurred 11,000 jobs between 2019 and 2021, DART President and CEO Nadine Lee announced Sept. 6 in her annual "State of the Agency" address.
A University of North Texas Economic Research Group (ERG) study of 31 TOD projects revealed economic benefits when located within a quarter-mile radius of DART stations, DART officials said in a press release. The projects encompassed a mix of commercial, residential and public developments.
“This study further confirms long-held beliefs among economists and real estate developers about DART’s impact on our regional economy,” Lee said. “Proximity to DART adds value to development. ... Projects near DART stations since 1999 have resulted in an aggregated increased property value of $17.1 billion.”
The ERG study also showed DART's TOD projects generated over $980 million in direct spending. The DART station area's economic impact from 2019 through 2021 generated $144.7 million in federal tax revenue and $49.6 million in state and local tax revenue.
Meanwhile, DART is making service enhancements, with light-rail riders will see increased service on the weekends starting Sept. 28. The service changes come as ridership of DART ridership (on trains and buses) is at 80% of its pre-pandemic levels, with riders asking for more frequent rail and bus services.
“Weekend ridership continues to grow – exceeding pre-pandemic ridership levels," said DART Executive Vice President and Chief Development Officer Dee Leggett in a press release. "This means our passengers are utilizing the system to reach more entertainment destinations and getting more out of DART throughout the week."