The values of parcels located within one-half mile of the line rise with distance from the lines, but fall with distance from the stations. These results are consistent with the hypothesis that the value of proximity to a light rail station is limited to walking distance. The results also suggest that noise or other disamenity effects of proximity to the light rail line are confined to within one-half mile of the line. Unfortunately, there were not enough observations in each year to ascertain if the relationship between light rail stations and land values within one-half mile of the station changed over time. Although real estate transactions provide evidence of changing ownership patterns and land values provide evidence of changing bid rents, neither provides strong evidence that development or redevelopment is taking place.
Building permits do.
They also offer information about the type and intensity of imminent development. For these reasons we also analyzed the spatial and temporal pattern of building permits. Over the four-year period, there were 3089 total permits, 75.8 percent of which were single family residential, 1.6 percent multifamily, 11.2 percent commercial, and 11.4 percent others. Not surprisingly, the spatial pattern of building permits is similar to the pattern of sales. Single family building permits were widely distributed around the study area but clustered in subdivisions in northern Hillsboro and the area between Hillsboro and Beaverton.