For what its worth..
Researchers say high-speed rail could fuel U.S. real-estate, economic booms
by Andrea Mayeux
May 29, 2013
Medill Reports
A study by researchers at the University of California-Los Angeles and China’s Tsinghua University found that by connecting “second tier” cities to global hubs, more people move to the smaller cities where housing costs are lower, creating a real-estate boom, among other unplanned benefits....
In Illinois a portion of Amtrak’s 284-mile corridor linking Chicago and St. Louis is undergoing a $1.1 billion overhaul to bring train speeds up to 110 miles an hour. The Federal Railroad Administration is funding the project. Instead of five-and-a-half hours, passengers will make the trip in four hours.
Given the Chicago-St. Louis corridor’s speed, Kahn expects cities along the line could experience revitalization of downtowns and add multi-family units near Amtrak stations.
Some of those cities are already seeing benefits.
Normal, Ill., which is about 130 miles from Chicago and 170 miles from St. Louis, received $22 million from the federal government to build a transportation center as a result of plans to upgrade the line. Since then, City Manager Mark Peterson said, development in the uptown area has taken off. A new $80 million conference center sits across the street. A $30 million development near construction will include a hotel, luxury apartments and retail shops.
Peterson said that just “the possibility of high speed rail helped us attract private investment to our central business district. We think we have just scratched the surface on what is the potential economic development implications of being right on that high-speed rail corridor.”