Land ValueThe one thing that gets over looked when doing a comparison between BRT and LRT is land use and value up turn.
We have seen in various cities in the United States over the last 10 years where new LRT and BRT systems have been built to see what kinds of changes they bring to the area they are servicing.
In all cases, there has been greater demand and land changes where LRT lines have gone in compared to BRT. BRT lines have generated $4 for every $1 that was invested in the BRT while LRT are seeing $10 or more for that same $1. At the same time, development starts faster with LRT than BRT.
People are prepared to walk a little further to an LRT than a BRT.
Not only LRT bring development faster to the area, it helps to transform that area into a more pedestrian area in all ships and forms. People are willing to sit at a cafe with an LRT running by it than one where an BRT because of the buses exhaust, let alone traffic.
One thing that is starting to show up more, people want to live close to an LRT as well in a smaller complexes than a BRT. At the same time, people are willing to use LRT more in the off peak time frame, than a BRT. Phoenix, who only just open their 20 mile line at a Cost of $1.3 Billion dollars at the end of December 2009, have seen their ridership exceeded not only the 12,000 daily ridership by the end of 2010, but the 20,000 figure by 2020 in 2011 by 45,000 daily. At the same time, 62% of the ridership is off peak which totally against the norm for ridership of any type of system in service today.
Land value has seen a 5% increase in the short time frame which some people don't like as it increase their tax level. That increase in tax level is off set by having more people moving to the area or city to help to spread the cost level over more people, than just a few.