1# RECORD 218db14f4ce7ac608cb6bc71c5735d8579cd337f2# TITLE: The impact of walkable environment on single-family residential property values3# YEAR: 2017.0 VENUE: nan DOI: 10.5198/jtlu.2015.8244# AUTHORS: Yun-Tao Guo; S. Peeta; Sekhar Somenahalli5# PAGES: 21 CANDIDATE TABLE PAGES (1-based): []6# ABSTRACT: Due to the impact of urban sprawl, the need for responsible property investing, and the emerging evidence supporting the linkage between walkable environment (in terms of built environment and walk accessibility) and residential property value, there is a critical need to develop systematic methodologies to quantify the impact of walkable environment on residential property value. This study provides a new generalized dissimilarity index for quantifying land-use mix, a key component of built environment, and a new method for measuring a property’s walk accessibility and then links them to residential property values. Ordinary least squares (OLS) regression models are used to validate these methods by examining the empirical property data in Eastern Adelaide, Australia. The results of the OLS models show that the proposed dissimilarity index and property walk-accessibility method outperform other commonly used land-use mix quantification and walk-accessibility methods in estimating single-family residential property values in terms of the goodness-of-fit and explanatory power. This study provides insights for investors to understand the impact of walkable environment on single-family residential property values to enable them to make more informed decisions on property investment, and for planners to design neighborhoods featuring better walkable environments.789===== PAGE 1 (score 3, numeric-paren 0, table-words 0, var-words 3) =====1011The Journal T L U http://jtlu.org12V. 10 N. 1 [2017] pp. 241–26113Abstract: Due to the impact of urban sprawl, the need for respon-14sible property investing, and the emerging evidence supporting the 15linkage between walkable environment (in terms of built environment 16and walk accessibility) and residential property value, there is a criti-17cal need to develop systematic methodologies to quantify the impact 18of walkable environment on residential property value. This study 19provides a new generalized dissimilarity index for quantifying land-20use mix, a key component of built environment, and a new method 21for measuring a property’s walk accessibility and then links them to 22residential property values. Ordinary least squares (OLS) regression 23models are used to validate these methods by examining the empirical 24property data in Eastern Adelaide, Australia. The results of the OLS 25models show that the proposed dissimilarity index and property walk-26accessibility method outperform other commonly used land-use mix 27quantification and walk-accessibility methods in estimating single-28family residential property values in terms of the goodness-of-fit and 29explanatory power. This study provides insights for investors to under-30stand the impact of walkable environment on single-family residential 31property values to enable them to make more informed decisions on 32property investment, and for planners to design neighborhoods featur-33ing better walkable environments.341 35Introduction36Over the past decade, extensive studies have been performed to address the negative impact of land-37use zoning ordinances that result in most residential properties being developed at locations featuring 38highly segregated land uses and curvilinear or cul-de-sac street patterns (Matthews and Turnbull 2007). 39Substantial distances have been created between residential properties, commercial properties, and ser-40The impact of walkable environment on single-family residential 41property values42Yuntao Guo 43Srinivas Peeta44Purdue University 45Purdue University46guo187@purdue.edu 47peeta@purdue.edu48Sekhar Somenahalli49University of South Australia50Sekhar.Somenahalli@unisa.edu.au51Article history:52Received: April 29, 201553Accepted: June 17, 201554Available online: September 21, 55201556Copyright 2015 Yuntao Guo, Srinivas Peeta & Sekhar Somenahalli57http://dx.doi.org/10.5198/jtlu.2017.82458ISSN: 1938-7849 | Licensed under the Creative Commons Attribution – Noncommercial License 3.0 59The Journal of Transport and Land Use is the official journal of the World Society for Transport and Land Use 60(WSTLUR) and is published and sponsored by the University of Minnesota Center for Transportation Studies.61