Has the Trinity River Project Increased the Sales Prices of Surrounding Houses?

The development project underway called the Trinity River Corridor Project, which is located along side Downtown Dallas, has made a huge impact on the surrounding neighborhoods. This project is supposed to cover about 20 miles of the Trinity River, which will include new roads, hike and bike trails, wetlands and lakes, and additional park and recreational facilities. The project is set to have many benefits including increased flood protection, traffic congestion relief, and neighborhood revitalization. North Oak Cliff is one of the areas that has been highly impacted by this project. Although the neighborhood was once an area seemingly in decline, it has had a great comeback in the last few years. The main attraction in North Oak Cliff is the Bishop Arts District. It includes over 50 local merchants, restaurants, boutiques, and services.

There have been many new developments in the past few years in this area and I think that this has definitely boosted the sales prices of surrounding homes. I would like to focus my study on the sales price and the area in which the property is located in. I would like to see if sales prices on homes with a close proximity to the planned Trinity River Project are higher than the prices on homes that are farther away.