I think the main takeaway from this is that the American system of financing and then capturing benefits from mass transit infrastructure is flawed compared to other countries.https://twitter.com/AlecMacGillis/status/935961443568177152 …
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In the American system, the public pays for infrastructure improvements while private land owners adjacent to the stations reap the financial benefits of increased land values, to the detriment of displaced tenants.
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In other countries more of the increased land value is captured to finance the project itself, finance ongoing transit access/maintenance or to provide other public benefits.
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But I would hate to see people interpret this story as a reason to never invest in more mass transit. Let’s figure out a better way to do value capture in America.
1:05 PM - 29 Nov 2017
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