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Capital Bikeshare becoming an economic development tool

Tuesday - 6/11/2013, 5:08am  ET

Capital Bikeshare is doing more than moving people around on bikes: It's becoming an economic development tool, the Washington Examiner reported.

The bike-sharing system — which has more than 175 docking stations across D.C., Arlington and Alexandria — has become the latest tool to spur development and attract young people.

Craigslist showed 72 active housing listings touting proximity to bikeshare on Friday. It is featured on Airbnb as a perk for visiting tourists seeking to rent out locals' homes, and Wal-Mart Stores Inc. is planning to add the stations to its stores coming to the District, according to bikeshare officials.

And about eight in 10 bikeshare members who responded to an annual survey said they are more likely to patronize a business if it is accessible by bikeshare.

© 2013 American City Business Journals, Inc.