World Bank
On behalf of the World Bank, HR&A developed a land value capture strategy for the Mitre Commuter Rail Line in Buenos Aires — analyzing state-owned parcels, evaluating Argentine financing tools, and delivering a roadmap for public real estate monetization that could fund rail improvements and inform broader infrastructure financing policy across Argentina.
Commuter rail improvements of the scale needed along the Mitre Line cannot be funded through fare revenue alone — identifying a credible alternative required a rigorous, market-grounded assessment of what the corridor’s public land could realistically yield. HR&A reviewed LVC tools commonly used in Argentina and the Buenos Aires Metropolitan Area, analyzed case studies of Argentine local governments that successfully monetized public real estate for infrastructure financing, and estimated the highest and best use for selected ADIF parcels through a land use and real estate market analysis across relevant submarkets. From that foundation, we proposed a sequenced set of alternatives for implementing LVC tools at each site and enabling private real estate development.
The engagement concluded with policy recommendations for the broader application of public real estate monetization as an infrastructure financing strategy across Argentina — positioning the World Bank and its government counterparts to establish a replicable model for transit investment nationwide.
