Research On Joint Development Of Urban Rail Transit And Real Estate Along The Lines

With the rapid development of economy and the up-growing of the level of urbanization in our country, the commuting flow and the number of private cars increase dramatically in big cities especially in some super cities. Adding the comparative backward of the construction of the city road, all these lead the urban traffic problem seriously. It is widely acknowledged that construct a public traffic system with rail rapid transit as its main body is an optimal solution to this problem which will have a great influence on the cities development in future. The rail traffic especially the metro-rail transit has the characteristic of high one-time investment, operating cost and social benefits but low economic efficiency. Until now, viewing the operation of the rail traffic in hinterland, there is no metro-rail transmit is profitable. Comparing to its inner poor economic returns, the rail traffic has great external effects on the land and real estate along the lines. This correlation leads us to make a systematical and joint research on urban rail traffic system and land development and utilization along the lines. Through joint development, we can solve the shortage of funds when constructing track traffic projects, and this will be benefit to exterior effects into interior effects of the rail transit.Based on articulating the economic characteristics of urban rail transport and the correlation between urban rail transit and real estate along the lines, this paper introduces joint development of urban rail transit and real estate along the lines.After analyzing Tokyo and Hong Kong's successful experience in the joint development of urban rail transit and real estate along the lines, and the experience and shortcomings of the joint development in Guangzhou, combining the real situation of rail traffic and the land utilization along the lines in Wuhan, the paper discusses the joint development modes between rail traffic and the real estate along the line from the perspectives of the diversity of joint development plan, the institutional arrangements for the joint development, investment and financing models, as well as relevant policies.In the paper, examples are cited to analyze the joint development in three areas of Wuhan respectively, that is, the mature land development and utilization area, the semi-mature land development and utilization area and the undeveloped land utilization area. Meanwhile this thesis gives some countermeasures on the joint development in these areas. In a word, this paper aims to shed some light on the joint development between urban rail transit and along-rail real estate development and utilization for the urbanization of Wuhan to a certain extent.