Purpose: A family of innovative financial mechanisms and tools for urban public transport, based on the value increment caused by enhanced accessibility, are lately gaining much popularity as a solution to the challenges posed by public financial resources’ shrinkage: Value Capture Finance (VCF). The effectiveness of applied transport financing policies depends significantly on the level of agreement among stakeholders, making collaboration a prerequisite for success. The research presented herein assesses alternative financing options for urban public transportation which are based on the VCF concept. Method: The Multi - Actor Multi-Criteria Analysis (MAMCA) developed by Macharis [1] is used. The methodology is unique in its field, as it includes in-depth involvement of all relevant stakeholders and reveals their way of thinking. Results: The proposed methodological framework is applied to the real-world case study of the under construction metro system of Thessaloniki, Greece. Three different financing scenarios are tested, and the criteria weight elicitation is performed through personal interviews with 70 stakeholders belonging to six different groups, namely: Government/Local Authorities, Transport Authorities, Universities/Research Institutions, Private Sector, Society and Professional Associations. Noteworthy similarities but also contradictions among stakeholder groups emerged, highlighted by the different criteria used for each group. Conclusion: The paper introduces the MAMCA as an ex - ante evaluation method for different VCF mechanisms for urban transportation infrastructure. MAMCA emerges as a robust methodology for this assessment, as it is proved to be capable of dealing with the VCF complexity and multidisciplinary nature.@en

The COVID-19 pandemic has impacted people's everyday lives, as avoiding being in crowded places became the number one societal rule. Crowdedness has therefore increasingly affected decisions such as a place visit via a specific path, the selection of a public transport stop, itinerary, etc., thereby making related information increasingly relevant. The objective of this study is to examine the route and travel choices of pedestrians and public transport users, with the provisioning of travel information related to crowdedness levels. To that end, a choice experiment was designed to elicit travelers' preferences. Discrete choice models were estimated based on data collected from 465 individuals in Greece. Results showed that crowd avoidance plays a significant role in shaping mobility decisions for both pedestrians and public transport users. Factors such as place of residence, age, the importance of COVID-19 measures and arrival time are found to affect the likelihood of switch routes in response to information about high levels of crowdedness.@en

There is a great number of studies which have proved that a new or improved transport system has an important impact on land uses and real estate prices. While there are many studies which examine the effect of a new urban public transport system on the values of neighbouring properties, the number of researches which focus on the identification of the benefits that businesses can expect is rather limited. The objective of the present paper is to identify parameters which have a significant impact on the business revenue, as well as to quantify that impact, focusing on the city of Thessaloniki, Greece, where a metro system is under construction A questionnaire-based survey took place, addressed to business enterprise owners and professionals in the surrounding area of ten of the planned locations of Thessaloniki metro stations. The data collected by this survey were reinforced with additional attributes of the businesses, such as their distance from the nearest metro station, and a statistical analysis has been conducted, utilizing also regression modelling techniques The results indicate that more benefits can be expected for businesses which are located closer to the metro stations, especially in areas with limited parking availability. The benefits are estimated to be higher for the land use category that includes restaurants/café/bars. Models of that type can be very useful in cases of implementing alternative funding/financing methods, such as Value Capture. For the implementation of such methods it is very important to accurately estimate the benefits that all the parties involved in an investment will gain.@en