CHICAGO-Residential housing construction near the CTA and Metra rail stations pales in comparison to new housing being added near transit centers in New York, Philadelphia, San Francisco and Boston, according to a report.
The Chicago-based Center for Neighborhood Technology in its report analyzed development of housing and small businesses within a half-mile of passenger rail stations in the Chicago area and the aforementioned four other metropolitan regions between 2000 and 2010.
New York, Philadelphia, Boston and San Francisco all experienced stronger growth in their transit areas as compared to their overall region, the study concludes. However, Chicago was the only market where residential development outside of the transit zone was stronger, according to the Chicago Tribune.
The number of households across the Chicago region increased by 5.8% between 2000 and 2010, while households living within a half mile of a CTA or Metra station increased just 2.1%, according to the study. See story in the Chicago Tribune.
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