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Revitalizing Private Intercity Rail in the U.S. A Case Study of Brightline’s Use of Development-Based Land Value Capture

St Lewis, Jonelle LU (2024) In IIIEE Master Thesis IMEM01 20241
The International Institute for Industrial Environmental Economics
Abstract
Confronting the challenges of high transportation emissions, this thesis investigates development-based land value capture (DBLVC) as a pioneering and sustainable funding mechanism for private passenger rail initiatives in the U.S., particularly in contexts marked by a shortage of public financial support. This research centers on the Florida East Coast Industries' Brightline project, exemplifying private investment innovation within U.S. transportation infrastructure—a sector traditionally reliant on public funds. The primary aim is to evaluate how DBLVC strategies can promote sustainable urban development and profitable passenger rail operations without substantial public subsidies. The specific research inquiries focus on the efficacy... (More)
Confronting the challenges of high transportation emissions, this thesis investigates development-based land value capture (DBLVC) as a pioneering and sustainable funding mechanism for private passenger rail initiatives in the U.S., particularly in contexts marked by a shortage of public financial support. This research centers on the Florida East Coast Industries' Brightline project, exemplifying private investment innovation within U.S. transportation infrastructure—a sector traditionally reliant on public funds. The primary aim is to evaluate how DBLVC strategies can promote sustainable urban development and profitable passenger rail operations without substantial public subsidies. The specific research inquiries focus on the efficacy of DBLVC in private rail financing, the role of transit-oriented development (TOD) in enhancing economic sustainability, and the implementation of risk management strategies within DBLVC frameworks. Employing a qualitative case study approach, this study analyzes data from corporate reports, stakeholder interviews, and project documentation to examine the financial arrangements and partnership dynamics of the Brightline initiative. Findings indicate that DBLVC, when integrated with strategic stakeholder partnerships and TOD, effectively mitigates financial risks and bolsters project viability, demonstrating that private rail projects can attain financial sustainability and contribute to urban development while minimizing reliance on public funding. The research concludes that DBLVC represents a feasible model for financing transportation infrastructure, with recommendations for further comparative studies across various markets and regulatory settings to broaden these insights. Future recommendations suggest that firms leverage DBLVC strategies to foster private investment in TOD infrastructure projects, thus advancing broader economic and environmental benefits. This thesis lays a foundational framework for understanding the potential of private funding in passenger rail projects, providing significant implications for future transportation planning and policymaking. (Less)
Please use this url to cite or link to this publication:
author
St Lewis, Jonelle LU
supervisor
organization
course
IMEM01 20241
year
type
H2 - Master's Degree (Two Years)
subject
keywords
Private rail, land value capture, transit-oriented development, risk mitigation, synergistic business models
publication/series
IIIEE Master Thesis
report number
2024.15
ISSN
1401-9191
language
English
id
9171362
date added to LUP
2024-08-09 21:01:28
date last changed
2024-08-09 21:01:28
@misc{9171362,
  abstract     = {{Confronting the challenges of high transportation emissions, this thesis investigates development-based land value capture (DBLVC) as a pioneering and sustainable funding mechanism for private passenger rail initiatives in the U.S., particularly in contexts marked by a shortage of public financial support. This research centers on the Florida East Coast Industries' Brightline project, exemplifying private investment innovation within U.S. transportation infrastructure—a sector traditionally reliant on public funds. The primary aim is to evaluate how DBLVC strategies can promote sustainable urban development and profitable passenger rail operations without substantial public subsidies. The specific research inquiries focus on the efficacy of DBLVC in private rail financing, the role of transit-oriented development (TOD) in enhancing economic sustainability, and the implementation of risk management strategies within DBLVC frameworks. Employing a qualitative case study approach, this study analyzes data from corporate reports, stakeholder interviews, and project documentation to examine the financial arrangements and partnership dynamics of the Brightline initiative. Findings indicate that DBLVC, when integrated with strategic stakeholder partnerships and TOD, effectively mitigates financial risks and bolsters project viability, demonstrating that private rail projects can attain financial sustainability and contribute to urban development while minimizing reliance on public funding. The research concludes that DBLVC represents a feasible model for financing transportation infrastructure, with recommendations for further comparative studies across various markets and regulatory settings to broaden these insights. Future recommendations suggest that firms leverage DBLVC strategies to foster private investment in TOD infrastructure projects, thus advancing broader economic and environmental benefits. This thesis lays a foundational framework for understanding the potential of private funding in passenger rail projects, providing significant implications for future transportation planning and policymaking.}},
  author       = {{St Lewis, Jonelle}},
  issn         = {{1401-9191}},
  language     = {{eng}},
  note         = {{Student Paper}},
  series       = {{IIIEE Master Thesis}},
  title        = {{Revitalizing Private Intercity Rail in the U.S. A Case Study of Brightline’s Use of Development-Based Land Value Capture}},
  year         = {{2024}},
}