By Jim Melwert

KING OF PRUSSIA, Pa. (CBS) – A new analysis, released today by the Economy League of Greater Philadelphia, takes a look at potential benefits of extending the Norristown High Speed line to King of Prussia.

The King of Prussia rail project is still years from being a reality, but this analysis looks at a variety of potential benefits, says Nick Frontino with the Economy League of Philadelphia:

“Including economic activity stimulated by construction, travel time savings for transit riders and for drivers, safety and environmental benefits and then the capacity of the rail system to also stimulate development in King of Prussia.”

That development could increase King of Prussia real estate values from half-a-billion to nearly one-billion dollars over 20 years, according to the report. It also says a rail transit option could save drivers about two million hours a year on less congested roads.

Septa officials say, while the price tag would be hundreds of millions of dollars, Septa is currently going through a process to get federal funding.