That is the amount of surface parking lots in Downtown and Over-the-Rhine. The map below shows them in black.
To put 92 acres in perspective, that is larger than Burnet Woods, just two acres smaller than Alms Park and almost twice the size of Rapid Run Park.
Those 92 acres of surface parking have tremendous redevelopment potential. Right now a surface lot has a low property value, meaning very little property tax revenue, and may only have a single attendant, or if it is fully automated it may have no employees- creating no income tax revenue. Building the Streetcar will reduce the need for multiple parking spaces for a single car downtown. Someone who works at a law firm on Fourth could take the Streetcar to the Hamilton County Courthouse rather than drive there and occupy another space.
Only in cities where the property value downtown is very low do you see large surface parking lots—they are not the sign of a healthy city. The Cincinnati Streetcar will help redevelop these properties into condos or apartments over underground or first level parking or garages with retail shops along the street by increasing the value of property Downtown. Higher property values mean more tax revenue that can be spent in all of Cincinnati’s 52 neighborhoods.
The Cincinnati Streetcar will increase the value of the properties along the line, it will help redevelop downtown. It will have benefits that exceed its cost by well over two to one and it will spur over a billion dollars in economic development in this City. Revitalize Cincinnati—Build the Streetcar.