The Transit-Oriented Global Centers for Competitiveness and Livability: State Strategies and Market Responses in Asia
This dissertation examines Hong Kong, Singapore, and Tokyo as three transit-oriented global center models, wherein entrepreneurial city-states have largely integrated rail transit investments with urban regeneration projects to guide postindustrial agglomeration and spur economic development in target locations. For each of the three Asian cases, I classify types of joint development packages on the basis of built environment attributes and estimate the impacts of rail transit investments and joint development packages on market location shifts and land price changes over the last decade. The empirical findings suggest that mixed-use redevelopment projects and urban amenity improvements around terminal stations largely shift the competitive advantages of knowledge-based businesses and the lifestyle preferences of highly skilled professionals towards central locations. The hedonic price models, however, reveal that the synergetic effects of rail transit investments and urban regeneration projects are highly redistributive over the rail transit networks as well as within each station catchment area, especially where urban districts are already well-developed and development regulations are generously relaxed for commercial profits.