Philadelphia is Re-Hauling Its Transit System. Here’s What it Means to You!
In a recent article by Curbed Philly, details have emerged regarding a massive overhaul of Philly’s transit system. Among the changes outline include, improved safety, improved bikes lanes, elimination of bus transfer fees, improving walkability as well as improve over all efficiency. So what does this all mean to you? Well for those looking to purchase this could potentially lead to another bump in home values. Therefore, it may be a good time to start looking now as the city has put their commitment to paper in regards to improving the quality of life in Philadelphia.
Philadelphia Becomes More Attractive to Transplants
With an improved transit system as well as walking and bike lane enhancements, the city instantly becomes more attractive to new businesses. More and more works are looking for easier daily transit that does not include driving. Having a safe and efficient transit system fills those needs. With an increase of new residents comes an increase of home prices as the city would remain a seller’s market.
Less Need for Parking
With the availability of transportation alternatives such as Uber and Lyft more and more Americans are being dependent on their own cars. This trend would only look to increase if the city does in fact improve the transportation system. Already one of the most walkable cities in America, the necessity of a car would be less likely. This would mean savings for residents that will not have to deal with the PPA or monthly parking fees.
As the need for having a car looks to dwindle by the city’s expectations, the traffic in or around Philly should see a decrease. Meaning that Philly would be a lot more walk friendly as well as a haven for bike riders. The bike lane improvements should usher in a new wave of riders.
Improvement in Housing and Equitable Growth
According the Curbed Philly’s article, “The whole Connect report comes on the heels of a Housing Action Plan, which was also released by the city Wednesday, and aims to improve housing in Philly with a focus on equitable growth. Though both plans came out around the same time, they were released by different departments—the housing report was put out by the Department of Planning and Development.
Anne Fadullon, the director of the latter department said the two plans are separate for now, as both offices work to outline their specific goals for transit and housing, respectively. Going forward, they may look at creating a connection between the two plans, she said.”