South Florida’s private rail company
Brightline is a privately owned rail service has stations in Miami, Fort Lauderdale, West Palm Beach, Aventura, and Boca Raton. A new stop in Orlando will open this year.
Brightline reported a 68% increase in ridership in March of 2023 versus 2022.
The rail line is so popular that it is driving up real estate values in its proximity.
In Fort Lauderdale, homes within the same ZIP code as the station have appreciated almost 70% since 2018 when the station opened versus 33% for the rest of the county. In West Palm Beach, homes near the stations appreciated 37% versus the 30% median for the area. If we look at Miami, there was an 83% appreciation for homes near the station versus 38% for the Miami area.
The thing is that you can’t just add roads as cities grow, you must turn towards public transportation.
Real estate developers are building large developments near the stations.
This rail company is creating the opportunity for people to commute and travel across South Florida.
Works Cited:
https://www.wsj.com/articles/the-biggest-south-florida-housing-boom-is-near-the-rail-stations-d6101467?mod=hp_major_pos3#cxrecs_s
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