For Full Story: Orlando Sentinel

Article By: Laura Kinsler

 

A new study commissioned by the Florida Department of Transportation has confirmed what local transit enthusiasts have promised: SunRail is proving to be a good investment.

Property values around the first 12 train stations increased by $2.4 billion — 63 percent — from 2011-2017, and FDOT estimates that $1.19 billion of that is directly attributable to SunRail, according to a report in GrowthSpotter.

Each station has drawn new development, and most experienced a sharp increase in property values that outpaced their surrounding areas by nearly 23 percent.

The research team from Florida State University first analyzed the property value impact of SunRail in 2015, but at that time, the system had only been operational for two years. Now, with three more years of data, the team determined that property values in the station areas are escalating at a higher rate as the system matures.