Does transit-oriented development attract private investment? Exploring the investment strategies of horeca business in station areas
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2019-08-30
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en
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Abstract
This research presents on the extent to which transit-oriented development (TOD) characteristics play a role in the investment strategies of horeca businesses regarding areas surrounding a transportation hub.
The research includes the knowledge on locational strategies of businesses, and also, the body of knowledge on the design concept of TOD. This connection is made to understand which TOD characteristics are relevant for businesses in making their investments decisions in hubs. The motivation for the study is to assess whether public improvements in hubs can stimulate horeca businesses to invest in these areas.
The research uses the hubs as the focal point between land use and transportation. The methodology consists of interviews with the representatives of horeca to understand their investment strategies and specifically, their willingness to invest in areas where TOD characteristics are present in a greater extent.
Some TOD characteristics were found in similar businesses divided into subdivisions: ‘hotel’ and ‘restaurant and cafe’. For the first, the lifestyle of the surrounding is playing an essential role in the locational decision-making process. In the second subdivision, the flow of people was a crucial feature in attracting investments. Nonetheless, the combination of all presented characteristics incentivizes businesses’ strategies to some extent.
Keywords: transit-oriented development (TOD); transportation hub; horeca location; investment strategies.
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Faculteit der Managementwetenschappen