Cities
around the country are building or planning new streetcar systems
to spur and focus development in their urban cores. Portland is
the best example of a modern streetcar system, but smaller cities
such as Little Rock and Kenosha, Wisconsin have had successes
with streetcars as well. After opening and extending their $100
million streetcar line, the city of Portland experienced $2.8
billion dollars of economic development.
Cincinnati
hired HDR Consulting to do a detailed economic impact study of
Phase 1 of the streetcar system. The results were promising, predicting
an investment of $128 million could lead to $1.4 billion in economic
activity and thousands of new residents in the urban
core. |