Table 1 : Sales revenue of NYC case study sites after street improvements
Site / Type |
Improvement |
Sales postimprovement |
|
|
|
|
|
by first year |
1 / Corridor Cycling , pedestrian , traffic calming , streetscape , parking management
2 / Plaza One-way traffic , public space , parking management , cycling
3 / Plaza Reduced vehicle access and traffic signals , more public space , cycling
Borough average by first year
Sales postimprovement by third year 39 % 27 % 102 % 18 %
18 % ( second year )
17 % ( second year )
48 % ( second year )
30 % 11 % 50 % 18 %
4 / Plaza Reduced vehicle access and more public space -55 % 1 % 47 % 24 %
5 / Corridor Reduced lane width , mixing zones , bike signals , pedestrian safety / comfort
14 % ( second year )
14 % ( second year )
20 % ( second year )
6 / Corridor Enhanced bus service , parking management 24 % 15 % 71 % 23 %
Borough average by third year
39 % ( second year )
27 % ( second year )
7 / Corridor Road modifications , bike signals , pedestrian safety / comfort
17 % 5 % 49 % 3 %
Source : New York City Department of Transportation ( 2013 ), The Economic Benefits of Sustainable Streets , NYCDOT
Figure 2 : Successful street transformations in NYC
Source : New York City Department of Transportation ( 2013 ), The Economic Benefits of Sustainable Streets , NYCDOT
Public perception is often misguided in historically car-based societies , with retailers consistently overestimating the proportion of their customers that arrive by car as opposed to active or public transport , also underestimating how much the latter spends . 24 Transport ( walking , cycling and driving ) may seem to dominate conversations about place , but that is because it affects not only how people move through a space – it can also significantly affect the quality of the places that people want to linger and spend time in , alongside the presence and quality of vegetation , architecture , and other design elements .
For residents , an ability to comfortably walk and cycle rather than drive saves money compared to the cost of running a car , 25 and that money can then be spent within the community – particularly if it is walkable and pleasant . Residential and retail property values increase in green and walkable streets , and as more employers seek out locations with high levels of pedestrian and cycling amenity , 26 job opportunities within the community also increase . 27 The need for adequate and affordable housing to be located within these communities must be addressed , as a lack of housing can put a brake on economic development as is being demonstrated in regional communities across Victoria and beyond . 28 Individuals and the wider community also benefit from lower costs relating to healthcare , reduced congestion , infrastructure provision and maintenance , and more active lifestyles resulting from an environment that is not designed around car dependency , 29 which can include things like more vegetation and space for people .
Cities and neighbourhoods that are more walkable and enjoy a higher degree of social capital and community attachment are correlated with higher GDPs per capita , with more highly ranked walkable urban areas enjoying a 52 per cent GDP per capita premium over the lowest ranked . 30 Contributing to this is that high amenity streets experience a near doubling of people lingering , walking , and other active activities over unimproved streets , and an extraordinarily large hike ( 216 per cent ) in leisure based static activities like stopping at a café or relaxing on a bench when the quality of the environment is high enough . 31
Cities and neighbourhoods that are more walkable and enjoy a higher degree of social capital and community attachment are correlated with higher GDPs per capita , with more highly ranked walkable urban areas enjoying a 52 per cent GDP per capita premium over the lowest ranked .
ECONOMIC DEVELOPMENT JOURNAL VOL 15 NO 3 2022 19