It is expected that property values will be affected in various ways by the location of I-69 in the selected corridor.  Experience in other places indicates that property values can increase, sometimes significantly, due to construction of an Interstate highway.  For example, a 2002 FHWA study, Economic Impacts Study of I-86 and US 11 Corridors, studied the effect of the completion of a 185-mile freeway in southern New York State.  (This study may be viewed at http://www.fhwa.dot.gov/planning/econdev/I86nye.htm).  This area of New York is comparable in terrain to Southwest Indiana, and also was regarded as being relatively inaccessible, compared with other areas within its region.  The 185 miles of I-86 was completed in 1999; the project involved upgrades to an existing highway as well as some new construction.  In the conclusion of this report, it states, “Interest in land development leads to new land use plans and raises land use values - These changes are clearly occurring within the first two years following completion of the interstate highway.  New expressions of interest in land development led five communities to develop new land use regulations or adopt previously proposed regulations.  At least three communities noted increases in property values that they attributed to the new interstate highway.”  What is noteworthy is that within two years of the completion of the highway, the increases in land values and associated development pressures were such that several communities developed or modified their land use regulations.  (Updated 11/14/07)

<<close window>> <<print window>>