Evaluating highways: Is progress worth your property?

Highways greatly affect how we live in the Houston metro area. They connect businesses, people and resources across 9,444 square miles. But they’ve also split communities, pushing some apart while confining others.

Progress only moves forward

The tension between public progress and personal loss becomes more obvious with the announcement of new transportation projects. These projects aim to meet the needs of the growing city population and improve transportation for residents and businesses. However, this also means many homeowners, landowners, farms and businesses could lose their property.

Under the Fifth Amendment, the government has the power of eminent domain. This means they can take or destroy private property for public projects like highways as long as they provide “just compensation.” Still, as a property owner, you have to consider whether the compensation is fair. It’s not just about losing property value or future income but also about losing a home filled with memories or an entire community. Deciding on a fair price is not that simple.

Putting things into perspective

A study by the National Bureau of Economic Research found that removing the Interstate Highway System (IHS) would reduce our real GDP between $421 billion and $578 billion. The most significant impact would be on remote counties. So, what do highways actually give us?

• Economic growth: Highways help businesses connect and thrive. When we improve transportation, it attracts investment and boosts our economy.
• Accessibility: Highways make getting to essential places like downtown, suburbs, and industrial areas easier. They’re also crucial for moving goods and emergency services efficiently.
• Regional connections: Highways link Houston to other cities, supporting growth and collaboration in the region.

Knowing how much your property is worth is just the start. It’s also important to understand highway projects’ value to our economy and communities when advocating for just compensation.

Know your property’s true value

Highway projects have provided immense value to the city, but it shouldn’t come at a personal cost.