Luas Cross City: Review of the Potential Economic Impact within the route catchment
FAC, in partnership with Lisney, was commissioned to review the potential economic impact within the catchment of the Luas Cross City route, which comprises an extension of the existing Luas Green Line from St. Stephen’s Green to Broombridge in Cabra.
The purpose of the study was to examine the evidence base to project the likely economic benefits of the Luas Cross City scheme to the residential, commercial and visiting communities in its vicinity. This primarily focuses on two areas:
• Potential uplift in property values in the residential and commercial (office) sectors, and,
• The additional development potential in the catchment as a result of the delivery of a higher capacity transport scheme, through higher permitted density.
The analysis took into account a number of key criteria including:
• Demographic and socio-economic changes;
• The impact of demographic changes on demand for development in the catchment;
• The planning and development policies of Dublin City Council;
• Potential additional density of development from Luas Cross City scheme;
• Residential and Commercial Property Value Uplift;
• International comparators; and,
• Wider Economic Benefits of light-rail infrastructure.
Potential economic impact was assessed on the basis of a low, medium and high basis, and identified significant economic value to the receiving residential, commercial and visiting communities from the delivery of the scheme. The findings of the report will contribute to the consideration of a development contributions scheme for development in its catchment.
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FAC is a leading Chartered Town Planning, Development and Socio-economic Analytics Consultancy based in Dublin with an extensive project portfolio throughout Ireland. FAC has extensive experience in town and village renewal, town and village health checks, and settlement profiling.