Impact of internal accessibility on value creation in transit oriented development (TOD) area

Abstract

Accessibility remains an area of concern in Transit-Oriented Development (TOD) design, which involves the integrated planning of transportation and land use. Most of the research has focused on accessibility as the movement using public transportation from one transit node to another, which can be defined as external accessibility. This study uses two accessibility definitions—external and internal accessibility. Internal accessibility defined as mobility using non-motorized transportation in transit node. Along with TOD definition, the non-motorized transportation is a major influencing factor in TOD area. Value creation, which is the process of enhancing value or price to increase efficiency, is derived from land use based on the real price of land and buildings. Value creation might be used as an option for self-financing the TOD area. This paper also uses two methodologies—the TOD index calculation in several Jakarta transit areas and a value creation analysis. The relationship between the TOD index and value creation is tested using regression analysis. The results of the study demonstrate that internal accessibility planning in TOD is crucial, as it contributes 40 % to the TOD index. The model, which suggests exponential correlation, demonstrates that the correlation between internal accessibility and value creation (R2 = 0.8430) is the best compared to the correlation between value creation and TOD index (R2 = 0.7969) and the correlation between external accessibility and value creation (R2 = 0.6739). The results are beneficial for urban and transportation planners, as enhanced internal accessibility increases value creation in TOD.