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Updated about 3 years ago on . Most recent reply

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Dana Gordon
  • New to Real Estate
  • Saint Petersburg, FL
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Saint Petersburg sun runner, bus rapid transit. Good news?

Dana Gordon
  • New to Real Estate
  • Saint Petersburg, FL
Posted

https://www.stpete.org/residen...

I imagine someone has experience with something like this going in near them. I own a home on this street, within about a block of one of the stops on this line, it is a bus rapid transit system that travels from downtown on the bay out to the beach.

Has anyone had one of these put in in close proximity to your property? Did you notice any changes positive or negative in your rent prices or property value?

  • Dana Gordon
  • Most Popular Reply

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    Dan Maciejewski
    • Realtor
    • PInellas County Largo, FL
    806
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    Dan Maciejewski
    • Realtor
    • PInellas County Largo, FL
    Replied

    In general, the idea is to make the area more desirable, and to make it easier to get to desirable areas.  The whole project is to enable (wealthy) people to get to places where they can spend money!

    My prediction is that rents should go up (albeit slowly and maybe unnoticeably in the short run), and rarely is easy access to public transport a bad thing for property values.   Notwithstanding homeless people and vagrants hanging out.  My guess, though, is that it's not going to attract that type -- it would only be an issue if it was already an issue in the area, in which case it's a net zero.

    Even in a "bad" area, easy access to public transport is better than being in a property with a farther walk to public transport!

    I've been crying for rapid transport in Pinellas, from Pinellas to Tampa, and Tampa to Orlando for 20+ years!  This is a great 1st step, and one that doesn't really need much extra infrastructure!

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