Phased Introduction of the New Transportation System under the Step-by-step Land Development Project

Abstract

Recently, the paradigm of land development has been transformed from the joint development to the step-by-step development due to changes in socio-economic conditions. Nevertheless, the introduction of large-scale transportation facilities such as new transportation system tends to employ the joint development. Although new transportation system is eco-friendly, it occasionally fails at the beginning of the project because of high installation cost. Such phenomenon is caused by not only the system did not reflect the local characteristics but also did not respond to the step-by-step development. Accordingly, in order to introduce transportation system rationally, introducing new methods corresponding to the step-by-step development should be sought. In this study, we assumed that large-scaled land development site be achieved step-by-step development. and suggested the need for a phased introduction through benefit-cost analysis. The findings illustrated that the phased introduction shows economic efficiency with 30% increase of B/C compared to the bulk introduction. It also demonstrates that the bulk introduction under step-by-step development is more efficient than the bulk introduction under joint development.