Speaking of streetcars, soapboxmedia.com had an interesting article in their newsletter today about the economic impact of streetcars on an area. Below is the article and it's URL.
Downtown - Proposed streetcar plan is economically worthwhile, economist reports
Cincinnati is on the right economic track in considering a streetcar system, says University of Cincinnati economist George Vredeveld. Vredeveld and his Economics Center for Education and Research scrutinized a study of potential streetcar benefits done by consulting firm HDR. The likely average net economic payoff of $315.8 million, as estimated by HDR over a 35-year period, is sound, as is HDR’s most conservative net economic payoff estimate of $186.8 million over 35 years. Even if this most conservative payoff comes to pass, “the proposed streetcar system is economically worthwhile," says Vredeveld.
The current proposal for a Cincinnati streetcar system calls for a four-mile looped system that travels from Cincinnati's riverfront, near the stadiums and the Banks project, through downtown north into Over-the-Rhine, with stops at Music Hall and Findlay Market, and then on to UC. The UC report says the proposed route is a plus because systems that link major activity centers (employment, shopping and recreation) generally experience higher levels of ridership.
Writer: David Holthaus
Source: M.B. Reilly, University of Cincinnati
http://www.soapboxmedia.com/innovationnews/street0902.aspx?referrerID=ba9ee8bf-12e1-47bb-ae54-d5c24dd8cf59
1 comment:
Thought you might like to see the story I produced on this study for my newscast last week: http://www.local12.com/mostpopular/story.aspx?content_id=81FAF837-0BB3-4BC6-B523-8408D2221524&gsa=true
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