Wednesday, May 17, 2006

Will Transit Villages Outpace Adult Housing?

From the Times Trenton:
Study finds transit village brings far fewer children

"A study conducted by Rutgers University may answer the question of whether residential developments planned near train stations in several townships in the state, including Hamilton, will attract families with large numbers of children who end up overburdening local schools."

"The study, completed by researchers at the Edward J. Bloustein School of Planning and Public Policy shows what supporters of the so-called "transit village" concept have long preached: the villages produce far fewer children -- an average of two per 100 homes -- than similar-sized housing farther from a transit hub."

"The study, which, according to a summary in the report, was paid for by the state Office of Smart Growth, looked at developments surrounding several existing transit hubs throughout the state, including projects in South Orange, New Brunswick, Morristown, Metuchen and West New York."

"The battle over the number of school children who will eventually live in transit villages has raged since the concept was introduced at the beginning of the decade."

"The long-awaited Rutgers study bolsters township officials' claims that transit villages create a positive tax revenue with little or no negative impact on the schools."

""It's part of the nature of the setting that is being created at the transit village that few children will live there.""

"A spokesman for NJ Transit, which owns the land surrounding the station and is developing 300 of the 980 homes, said the study should help put fears to rest."

17 Comments:

Blogger grim said...

Sounds like it might be time for a new slogan.

"Welcome to New Jersey - No Children Allowed"

grim

5/17/2006 06:44:00 AM  
Blogger Shailesh Gala said...

I get really appalled by the even fact that someone is doing such studies, and folks are applauding such effort. I have given myself a timeline for 2 more years. If I can not buy decent house in that time, I am moving out of state. This is no way to live.

5/17/2006 06:51:00 AM  
Blogger Metroplexual said...

This comment has been removed by a blog administrator.

5/17/2006 07:33:00 AM  
Blogger grim said...

CPI and Core CPI come in above estimates.

U.S. April Consumer Prices Rise 0.6%; Core Rises 0.3%

Prices paid by U.S. consumers rose more than forecast in April, rekindling inflation concerns that may invite more interest-rate increases from the Federal Reserve.

The 0.6 percent rise in the consumer price index followed a 0.4 percent increase in March, the Labor Department said today in Washington. Not counting food and energy, so-called core prices rose a larger-than-forecast 0.3 percent for a second month.

Strong demand is allowing more companies to pass along higher commodities and wage costs. Today's data will likely dispel any reassurance Fed policy makers took from recent reports on producer and import prices showing limited inflation, economists said.

``The Fed wants to stop, but the data won't let them,'' Bill Mulvihill, senior economist at First Trust Advisors LP in Lisle, Illinois, said before the report. ``Commodity prices are higher, and price increases are widespread on other goods, so that's all signaling that inflation pressures are continuing to build.''

Economists expected a 0.5 percent increase in the consumer price index, based on the median of 72 forecasts in a Bloomberg News survey. Forecasts ranged from 0.4 percent to 0.9 percent. Core prices were forecast to rise 0.2 percent.

5/17/2006 07:45:00 AM  
Blogger Richie said...

Did anyone notice that NJ.COM's front page doesn't have as many real estate ads? I always remember seeing the Kara Homes and KHovnanion banner ads on the right, haven't seen them in a couple days.

-Richie

5/17/2006 08:13:00 AM  
Blogger Richie said...

Clifton is a transit town, and the schools are overcrowded.

I think the closer the train is to the city, the more congested it will be.

Towns like West New York and South Orange are not highly respected for their school districts. Other towns are simply too far for a decent train commute.

5/17/2006 08:15:00 AM  
Anonymous Anonymous said...

There's a good reason why Hamilton hasn't experienced volumes of children flooding the school system. At that distance, NYC commuters [with children] are better off jumping the river into Bucks PA with better schools and lower taxes.

Just drive around & look at all the PA plates when trying to find a rare spot at the Hamilton station.

Hamilton is insulated, but not stations closer to the city.

5/17/2006 08:38:00 AM  
Anonymous Anonymous said...

here's something useful for those who haven't seen this yet on cnn.com

http://money.cnn.com/2006/05/12/real_estate/reguide_moneymag_addresses_0606/index.htm

5/17/2006 10:34:00 AM  
Anonymous Anonymous said...

OT

Dow is down 162 (1.43%). Down has been roughed-up over the past weeks.
Is this just a bump in the road or is it time to jump ship?
(obviously no one can time the market…just interested in opinions)

5/17/2006 11:08:00 AM  
Anonymous Anonymous said...

Funny you should ask that just now, 12:08.

Myself, I just opened the 10-year charts on a couple of growth funds and compared the "bumps" and wondered if there is one more left this year or if the jig is up.

5/17/2006 11:19:00 AM  
Blogger Metroplexual said...

I think that the study is fishy. First the "n" is not high enough. I also think the desirability of the schools could make a "TV" attractive to families especially now that gas prices are making transit look even more attractive.

It is just making it easier to build "smart growth" in towns that would otherwise not want it. It will be touted as the new "no negative externality" land use like age restricted communities.

5/17/2006 11:23:00 AM  
Anonymous Anonymous said...

It's the locations dummies. Seriously commuters moving into South Orange if they can afford the "transit Village" condos, they will and can afford to send their kids to private school and in S. Orange the schools aren't that great. Now tell me what happens in a place like Ridgewood and it is more telling. While people who live in transit villages are less likely to have kids it is also a function of the condos being built because as we all know the youth market is more oriented towards Hoboken than north jersey suburbs.

5/17/2006 01:19:00 PM  
Blogger pesche22 said...

clifton is a starting place when
they do the enema on new jersey

5/17/2006 02:34:00 PM  
Blogger chicagofinance said...

Yo' Fish Man:

That's grim's base of operations.

5/17/2006 06:28:00 PM  
Anonymous Anonymous said...

I have to agree with the Fish Man! Outside of the Allwood section and Montclair Heights--really in Clifton, what else is there? Is this a communter town--I don't think so. People I know in Clifton and Nutley say it is not easy unless you live on a bus line. Though, I do like the people who live there--very down to earth.

5/17/2006 08:25:00 PM  
Blogger grim said...

Yes, I live in Clifton, more specifically, the Athenia section.

jb

5/18/2006 06:55:00 AM  
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5/22/2006 02:24:00 AM  

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